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Fervo Energy is a Houston-based next-generation geothermal company that borrows horizontal drilling and fiber-optic sensing from the oil and gas playbook to make enhanced geothermal systems (EGS) commercially viable. By drilling into hot dry rock almost anywhere - not just rare natural hotspots - Fervo produces around-the-clock, carbon-free firm power. Its flagship Cape Station project in Utah is on track to be the world's largest next-generation geothermal development, and the company has become a go-to supplier of clean baseload electricity for AI data centers and utilities.

$1.89 billion gross proceedsIPO (Nasdaq: FRVO)

geothermalenhanced-geothermal-systemsegsclean-energyrenewable-energy24-7-carbon-free-power