Investments

Fervo Energy Secures US$ 462 Million Series E to Scale Next-Generation Geothermal and Power the Surge in 24/7 Carbon-Free Electricity Demand

Fervo Energy has raised US$ 462 million in an oversubscribed Series E round. This is one of the biggest private investments in geothermal energy recently. It shows a strong move toward reliable, clean power solutions to meet the U.S.'s growing energy demands. B Capital, a global investment firm, led this round. Investors think advanced geothermal technologies will be crucial for a strong, decarbonized electricity system. The new funding will speed up construction of Fervo’s Cape Station in Beaver County, Utah. It will also support early development for more projects in its growing national pipeline. Cape Station will start delivering 100 megawatts of clean power in 2026. By 2028, its total capacity is expected to hit 500 megawatts. Once finished, it will be the world's largest next-gen geothermal facility. This will…