Fervo Energy (FRVO) is a technology-enabled independent power producer. Founded in 2017 and based in Houston, Texas, the company develops, builds, and operates enhanced geothermal systems (EGS) using advanced horizontal drilling techniques originally developed in the oil and gas industry to unlock carbon-free baseload power from the earth's geothermal heat.
Fervo's flagship Cape Station project in Utah, comprised of a 100 megawatt Phase I and a 400 MW Phase II expansion, anchors a 42 GW development pipeline backed by a 3 GW framework agreement with Alphabet (GOOGL) and $7.2 billion in contracted revenue through power purchase agreements. A landmark Nvidia (NVDA) partnership on the EGS-Twin digital twin platform further cements Fervo's position at the convergence of clean energy infrastructure and artificial intelligence (AI).
