Fervo Energy Partners with Google for Enhanced Geothermal Projects in Nevada and Utah
Fervo Energy, a U.S. geothermal startup, has raised over $1.5 billion, including $462 million in December 2025. With backing from Google, Mitsui, and others, Fervo employs enhanced geothermal techniques to access deeper reserves, reducing drilling costs by over 70%. The company aims to provide 24/7 carbon-free energy and is developing projects in Nevada and Utah, including a site that will add 100 megawatts to the local grid by October. Fervo is also exploring an IPO in 2026.
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Fervo Energy has raised over $1.5 billion, including $462 million in December 2025, with investors like Google and Mitsui. The company utilizes enhanced geothermal techniques to access heat sources up to 12,000 feet deep, significantly reducing drilling costs to $400 per foot.
Its first corporate-backed project in Nevada, supported by a special utility tariff with Google and NV Energy, aims to provide around-the-clock clean power. Fervo is also developing a 500-megawatt capacity project in Utah, adding 100 megawatts to the grid by October. The company employs AI to optimize drilling and has plans for an IPO in 2026.
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