Geothermal frontrunner Fervo Energy said Wednesday that it had secured $206 million in financing to continue work on a new power plant in Utah. The startup is developing what promises to be the largest enhanced geothermal power plant in the world. The initial phase of Cape Station is expected to come online next year and […]
Fervo Energy lands $206M in financing to build massive geothermal power plant Read More »
Geothermal startup Fervo Energy is reportedly eyeing an initial public offering in the next two years. Driving the consideration is the growing concern over power demand growth from data centers, which could double by 2029. “There’s clearly a huge hunger in the public markets right now to figure out, how are we going to solve
Geothermal unicorn Fervo Energy may IPO as early as next year Read More »
There’s a power crunch looming as AI and cloud providers ramp up data center construction. But a new report suggests that a solution lies beneath their foundations. Advanced geothermal power could supply nearly two-thirds of new data center demand by 2030, according to an analysis by the Rhodium Group. The additions would quadruple the amount
Geothermal could power nearly all new data centers through 2030 Read More »
President-elect Donald Trump said on Saturday that he would be nominating Chris Wright, CEO of oilfield services company Liberty Resources, to the post of energy secretary. Wright has been a big booster of oil and gas. From his perch at Liberty, Wright last year denied that there’s a climate crisis or that it’ll result in
