Next-generation geothermal developer applying horizontal drilling to enhanced geothermal systems
Fervo Energy applies horizontal drilling and hydraulic stimulation techniques from oil & gas to enhanced geothermal systems (EGS). Powering Google data centers in Nevada since 2023. Cape Station in Utah will deliver 400 MW of baseload renewable power to Southern California Edison starting 2026.
Energy📍 Houston, TXFounded 2017
Current Valuation
$1.4B
as of 2024-Q3
UNICORN
QL Price
$13B
+23% vs last round
QuantLogix's current estimate for Fervo Energy, published 2026-09-09 — above the last disclosed round of $10B (2026-05).
Confidence
medium
Basis
secondary led
What backs this price
Last disclosed round
$10B
2026-05
weight 0.78
Secondary market print
$15B
2026-06-27
weight 0.64
How this price has held up
No round has priced for Fervo Energy since QuantLogix began publishing a price for it, so there is nothing to grade yet. The claim above is on the record from 2026-09-09 and will be graded against the next priced round. See the full accuracy record →
Which publicly-traded funds already hold it, what $10,000 buys, and whether any route is open to you.
Cite this price as QuantLogix QL Price, Fervo Energy, 2026-09-09 (865ba39994bada1d).
The id pins this exact claim, so a citation stays checkable after the price moves.
Model estimate for research — not a quote, target price, or investment advice.
IPO Outlookprivate
Is Fervo Energy going public?
No. Fervo Energy has no imminent IPO plans on record. It is still private.
What is Fervo Energy's valuation in 2026?
Fervo Energy is valued at $1.4B as of 2024-Q3, set by its Series D ($244M, Sep 2024). That is the last confirmed mark, not a live price — private shares do not trade continuously.
Has Fervo Energy filed an S-1?
No public S-1 is on file for Fervo Energy.
Who are Fervo Energy's investors?
Fervo Energy's investors include Devon Energy, Breakthrough Energy Ventures, Bill Gates, DCVC, Galvanize Climate.
Answers are derived from the roster record shown on this page — filing status, last round and confirmed marks. Where the record is silent, the answer says so rather than guessing.
Company Profile
CEO
Tim Latimer
Founded
2017
HQ
Houston, TX
Employees
~200
Total Raised
$530M
Last Round
Series D — $244M (Sep 2024) · Lead: Devon Energy
IPO Status
no imminent plans
Fundraising Status
Series D · $244M · 2y ago
no imminent plansTotal raised $530M
Secondary Market
Implied price / share
$12.32
Last round price / share
$8.17
vs last round
+50.8%
Last round price vs secondary price
Secondary price return by period
Implied per-share price from private secondary transactions, as of Jun 2026. This is a point estimate, not a quote — the feed carries no bid, ask or spread, and a secondary print is evidence of what someone paid on that date rather than a live market. Compare across every tracked name →
Latest Funding Round
Round
Amount
Date
Lead Investor
Post-Money
Series D
$244M
Sep 2024
Devon Energy
—
Talent Signal
Hiring trend
● First snapshot
trend accrues with monthly sweeps
Open roles
4
via careers page
Product-build share
25%
engineering, research, product, design
Trajectory
strengthening
balanced build + GTM — 25% builders vs 75% go-to-market/G&A — scaling both sides.
Recent senior hire: 1 senior hire (COO).
Open roles by month
Open roles by function
■ product-building ■ go-to-market / G&A
Key Executive Moves
INSarah JewettCOO · 2026-08-12
From trusted-source news extraction (deep-enrich pipeline); dates approximate publication, not effective date.
Comprehensive medical, dental, and vision plansSkip to contentFlexible time-off policyHybrid workplace
Counted from Fervo Energy's live job board as of 2026-08-17; role functions classified from posting titles. Open-role counts are an activity signal, not headcount. Refreshed monthly.
Founders & Key People
Tim LatimerJack Norbeck
Investors
Devon Energy · Breakthrough Energy Ventures · Bill Gates · DCVC · Galvanize Climate
Products
Project Red (Nevada)
Cape Station (Utah, 400 MW)
Competitors
Eavor · Sage Geosystems · GreenFire Energy
EnergyGeothermalClimateGates Backed
Private-company numbers are not real-time. Reflects publicly disclosed valuations from press releases, news reports, and tender offers as of 2024-Q3. Refreshed quarterly.