DLA Piper advised Quaise Energy, a developer of utility-scale superhot geothermal energy, on a financing with Nabors Industries that will support the development of the world’s first commercial superhot geothermal power plant.
Quaise Energy and Nabors Industries have also entered into a strategic collaboration covering drilling operations, technology integration, and commercial deployment, which is expected to advance Quaise Energy’s millimeter wave drilling technology. The investment from Nabors brings to a close Quaise’s Series B financing, which raised a total of US$180 million, including the US$35 million investment from Nabors in the form of approximately 392,000 shares of Nabors’ common stock, and brings the company’s total funding to date to US$280 million.
The DLA Piper deal team was led by Partners Joshua Fox and Alexander Civetta (both Boston) and included Partners Era Anagnosti (Washington, DC/Palo Alto) and Brian Hamano (Los Angeles/Palo Alto), and Associate Mina Zaky (Austin).
Where the legal industry reads first.
Enjoyed this article? Get the biggest legal industry updates, deals, appointments, insights and expert interviews in your inbox, free.
No spam. Unsubscribe anytime.