Fervo Energy — Startup Profile

Next-generation geothermal power using horizontal drilling and fiber optic sensing

HQ: Houston, TX, United States | Founded: 2017 | Employees: 200-500 | Stage: Public (IPO 2026) | Website: https://fervoenergy.com

About

Fervo Energy is a geothermal energy technology company that develops next-generation geothermal power plants using horizontal drilling and fiber optic sensing. The company's technology enables geothermal energy production in regions previously considered unsuitable, dramatically expanding the potential for clean, baseload power generation.

The Take

Fervo Energy is unlocking the massive potential of geothermal energy by applying proven horizontal drilling and fiber optic sensing techniques from the oil and gas industry, making clean, baseload power accessible in regions previously thought unsuitable for geothermal. With a Google 396MW PPA and recent IPO, Fervo is positioned to become a major player in the clean energy transition.

Key Metrics

• Total Funding: $1.4B
• Last Round: IPO (May 2026)
• Founded: 2017
• Headcount: 200-500
• Market Cap: ~$6.5B

Funding Rounds

• Round: $400M (2026-05-15) — Goldman Sachs, Morgan Stanley
• Round: $244M (2023-11-01) — DCVC, Breakthrough Energy Ventures

Key People

• Tim Latimer
• Jack Norbeck

Key Competitors

• Ormat Technologies —
• Eavor Technologies —

Timeline Highlights

• 2026-05-15: IPO
• 2023-11-01: Series C
• 2017-01-01: Founded

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