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Fervo Energy Raises $138 Million For 24/7 Carbon-Free Next-Generation Geothermal Energy

Aug 22, 2022about 3 years ago

Amount Raised

$138 Million

HoustonSolarRenewable EnergyEnergy

Description

Fervo Energy, the leader in next-generation geothermal power, today announced that it had raised $138 million in new funding led by DCVC to build, own, and operate 24/7 carbon-free power plants.

Company Information

Company

Fervo Energy

Location

609 Main Street

Houston, Texas, United States

About

Fervo Energy provides 24/7 carbon-free energy through development of next-generation geothermal power. Fervo’s mission is to leverage innovation in geoscience to accelerate the world’s transition to sustainable energy. Geothermal has a major role to play in the future electric grid and Fervo’s key innovations bring a full suite of modern technology to make geothermal cost competitive. Fervo’s innovations include technologies such as advanced computational models, horizontal drilling, and distributed fiber optic sensing that have been developed with partners including Schlumberger, ARPA-E, and the Lawrence Berkeley National Lab. Fervo has an industry leading development pipeline with projects with multiple partners including Google and East Bay Community Energy. Fervo’s investors and financiers include leading venture capital firms Capricorn and Breakthrough Energy Ventures, industry leaders Helmerich and Payne and BHP, and research support through Activate, ARPA-E, and the Department of Energy Geothermal Technologies Office. For more information, please visit www.fervoenergy.com.

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