Fervo Energy
Next-generation geothermal developer applying horizontal drilling to enhanced geothermal systems
Energy
📍 Houston, TX
Founded 2017
Current Valuation
$1.4B
as of 2024-Q3
UNICORN
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.
Company Profile
Last Round
Series D — $244M (Sep 2024) · Lead: Devon Energy
IPO Status
no imminent plans
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.