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Fervo Energy IPO and Alphabet power deal lift hopes for geothermal growth

Fervo Energy Company logoFervo Energy Company
Sig3.42Sen+4.63Env+3.56Soc0.00Gov0.00

Fervo Energy went public in May, raising $2.2 billion, and built a pipeline of more than 50 gigawatts. While revenue was just $113,000 in its first quarter as a public company, part of its plant is expected to operate by year-end. A Sept. 1 power purchase agreement with Alphabet covers 396 megawatts of carbon-free electricity for a Utah data center, lifting shares about 25%. GeoCluster is expected by 2028.

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