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.
techcrunch.com
· 2026-11-09
MIT Technology Review's latest Download newsletter covers two topics: an ongoing debate over whether frontier AI models should be open-sourced or kept proprietary, and a profile of Fervo Energy, named one of the outlet's 10 Climate Tech Companies to Watch for 2026. Fervo uses horizontal drilling and hydraulic fracturing to enable geothermal power generation outside traditional hotspots, and has secured a $2.2 billion public offering plus an expanded agreement with Google to build larger plants.
technologyreview.com
· 2026-10-13
Fervo Energy has started commercial operations at its Cape Station project in Utah, turning on an initial 33-megawatt unit that will supply carbon-free electricity to Shell Energy in California. The $2 billion project uses drilling techniques adapted from oil and gas to create artificial geothermal reservoirs in hot, dry rock, and is designed to eventually reach 500 megawatts, with additional capacity backed by an agreement with Google.
spectrum.ieee.org
· 2026-10-12
Fervo Energy said it started delivering electricity to the grid from its Cape Station facility on September 30, a day ahead of schedule, after the plant synchronized with the grid about a week earlier. The initial phase represents one-third of a planned 100-megawatt facility that took 23 months to build from groundbreaking to operation, with the full site potentially scaling to 4 gigawatts.
techcrunch.com
· 2026-10-01
Google has agreed to purchase nearly 400 megawatts of electricity from Fervo Energy's Cape Station geothermal plant in Utah, set to come online in 2028, with an option to buy 600 megawatts more through 2030. The power will support a new Google data center as the company seeks additional electricity sources to meet rising AI computing demands.
techcrunch.com
· 2026-09-02
Fervo Energy is launching its first utility-scale power plant, aiming to prove that enhanced geothermal technology can produce reliable, round-the-clock clean energy at commercial scale. The project follows a period in which geothermal has lagged far behind solar and wind as a share of the renewable energy mix.
fastcompany.com
· 2026-08-25
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