A company that plans to drill deeper into Earth than ever before, creating holes that would extend a record-shattering 12 miles under our planet’s surface, has raised a total of $63 million since its launch in 2020. 

Most recently, Quaise Energy, a startup that aims to revolutionize the geothermal energy market, secured $40 million in series A funding in February, reports Axios. The goal of these super-deep holes is to access a limitless amount of renewable energy from the heat deep inside Earth.

“This funding round brings us closer to providing clean, renewable baseload energy,” said Carlos Araque, CEO and co-founder of Quaise Energy, according to BusinessWire. “Our technology allows us to access energy anywhere in the world, at a scale far greater than wind and solar, enabling future generations to thrive in a world powered with abundant clean energy.”

Geothermal energy has a low profile compared to other renewable energy sources such as solar, wind, and hydro, but Quaise believes it is […]