See their website here. The plant can be a repurposed fossil fuel powered plant, as long as it is powered by geothermal energy created using Quaise's technology.
From what I heard the main problem with their tech is getting the heat out
Apparently the main reason why you can't do geothermal in many places is not because the hot rock is too deep, but because the ground isn't porous enough to pump water through it
You could theoretically dig tons of little channels to allow the ground to heat the pumped water, but good luck doing that at any reasonable depth, microwaves or no
https://www.resfrac.com/blog/why-deep-closed-loop-geothermal-guaranteed-fail
I was disappointed that the recent Real Engineering video made no mention of this problem
Still not buying too much No because you can always do a pilot plant