GoKawiilFervo's contracted revenue rises to $11.9 billion as geothermal orders grow
Fervo reported $11.9 billion in contracted revenue in its third-quarter earnings, up from $7.2 billion the prior quarter. The company is building a 396-megawatt geothermal plant for Google at its Cape Station site in Utah, expected to be complete by 2028, following the connection of a first 100-megawatt plant to the grid earlier this year. Fervo posted an operating loss of $43.7 million for the quarter but held $1.9 billion in cash and equivalents.
GoKawiil's interpretation of the reporting above, not reported fact.
The surge in orders suggests growing demand from hyperscalers seeking reliable, always-on power for AI data centers, an area where geothermal can compete with nuclear and gas due to its phased, modular construction. CEO Tim Latimer's comments indicate the Google arrangement lets both companies build on independent timelines, which could make geothermal more attractive for fast-scaling data center needs, though Fervo's continued operating losses show the business remains financially unproven at this stage.
- Fervo's contracted revenue nearly doubled quarter-over-quarter to $11.9 billion.
- The company is building a 396-megawatt plant for Google in Utah, due by 2028.
- Fervo still posted a $43.7 million operating loss despite $1.9 billion in cash reserves.
Source: techcrunch.com — Tim De Chant, 2026-11-09
Published there as: “Fervo now has $12B in orders for its geothermal power tech”
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