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fervoenergy.com

Founded Year

2017

Stage

Series B | Alive

Total Raised

$28.4M

Last Raised

$28M | 1 yr ago

About Fervo Energy

Fervo Energy is a geothermal developer generating clean power in new places.

Fervo Energy Headquarter Location

1 Cyclotron Rd

Berkeley, California, 94720,

United States

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Research containing Fervo Energy

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CB Insights Intelligence Analysts have mentioned Fervo Energy in 1 CB Insights research brief, most recently on Dec 10, 2020.

Expert Collections containing Fervo Energy

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Fervo Energy is included in 1 Expert Collection, including Renewable Energy.

R

Renewable Energy

2,812 items

Includes companies working on technology to support renewable energy generation.

Fervo Energy Patents

Fervo Energy has filed 1 patent.

The 3 most popular patent topics include:

  • Drilling technology
  • Oil wells
  • Petroleum engineering
patents chart

Application Date

Grant Date

Title

Related Topics

Status

8/14/2019

Drilling technology, Petroleum production, Oil wells, Petroleum engineering, Petroleum geology

Application

Application Date

8/14/2019

Grant Date

Title

Related Topics

Drilling technology, Petroleum production, Oil wells, Petroleum engineering, Petroleum geology

Status

Application

Latest Fervo Energy News

09:00 EDT East Bay Community Energy Adds Fervo Geothermal Energy to Portfolio, Opening Doors to 24/7 Zero-Emission Electricity

May 24, 2022

News provided by Share this article Share this article EBCE becomes the latest community choice aggregator (CCA) to add mandated non-weather-reliant power source, stabilizing long-term consumer prices & powering 44,000+ homes annually OAKLAND, Calif., May 24, 2022 /PRNewswire/ -- East Bay Community Energy (EBCE), one of the nation's top-ranking clean energy providers, is partnering with Fervo Energy to equip EBCE with geothermal power, adding non-weather-dependent clean energy to its power supply. Helping communities maintain resilience in today's evolving energy landscape, EBCE enables consistently stable, long-term energy rates by leveraging power that can be accessed and meet demand regardless of the season, weather, or time of day. Developed by Fervo Energy, this facility marks EBCE's first geothermal power purchase agreement (PPA), broadening the agency's clean energy portfolio. EBCE tapped Fervo Energy, a next-generation geothermal company applying transformative geothermal technology to address climate change, to increase its carbon-free energy deployment in response to a State of California mandate to procure 1,000 MW of non-weather-dependent, zero-emission energy by 2026. This project will dispatch 40 megawatts of firm, 24/7, zero-emission geothermal energy from Churchill County, Nevada to California's regional grid, with expected operation in Q4 2026. Fervo Energy brings a variety of innovative technologies to geothermal including horizontal drilling and distributed fiber optic sensing to deliver more reliable and cost-effective projects. This approach makes geothermal power accessible in far more places than before and dramatically increases its potential as a widespread energy source. "Geothermal power is vital to achieving the decarbonization goals of California and around the world," said Tim Latimer, CEO at Fervo Energy. "East Bay Community Energy has established itself as the leader in scaling dependable, clean electricity in the best interest of its customers, and we're honored to be partnering with them." Serving Alameda County and fourteen incorporated cities, EBCE offers a power mix of carbon-free and renewable energy sources including wind, solar, hydro, and geothermal, with a goal of providing 100 percent clean electric service for its customers by 2030 – 15 years ahead of California's target date. With this first geothermal PPA, EBCE is doubling down on providing long-term stable prices for its ratepayers, while ensuring greater reliability as more regions fall under the threat of climate change-induced power outages. "Developing a diverse portfolio of clean energy facilities helps keep prices stable and the lights on," said Nick Chaset, CEO at EBCE. "As one of the cleanest energy providers in California, adding geothermal to our portfolio adds resiliency to the communities we serve and a level of stability EBCE customers can count on." About EBCE EBCE is a not-for-profit public agency that operates a Community Choice Energy program for Alameda County and fourteen incorporated cities , serving more than 1.7 million residential and commercial customers. EBCE initiated service in June 2018 and expanded to Tracy in neighboring San Joaquin County in 2021. As one of 24 community choice aggregation (CCA) programs operating in California, EBCE is part of the movement to expedite the climate action goals of their communities and those of California. EBCE is committed to providing clean power at competitive rates while reinvesting in its local communities. For more information about East Bay Community Energy, visit ebce.org . About Fervo Energy Fervo Energy produces 24/7 carbon-free energy through next-generation geothermal energy technology. The company commercializes technology to develop, own, and operate geothermal assets that will be key to decarbonizing the electric grid. Fervo brings a variety of innovative technologies to geothermal including horizontal drilling and distributed fiber optic sensing to deliver more reliable and cost-effective projects, developed with partners including Schlumberger, ARPA-E, and the Lawrence Berkeley National Lab. Fervo is supported through Capricorn's Technology Impact Fund, Breakthrough Energy Ventures, and the Department of Energy. Media Contacts

Fervo Energy Web Traffic

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  • When was Fervo Energy founded?

    Fervo Energy was founded in 2017.

  • Where is Fervo Energy's headquarters?

    Fervo Energy's headquarters is located at 1 Cyclotron Rd, Berkeley.

  • What is Fervo Energy's latest funding round?

    Fervo Energy's latest funding round is Series B.

  • How much did Fervo Energy raise?

    Fervo Energy raised a total of $28.4M.

  • Who are the investors of Fervo Energy?

    Investors of Fervo Energy include Breakthrough Energy Ventures, Elemental Excelerator, Capricorn Investment Group, Congruent Ventures, 3x5 Partners and 4 more.

  • Who are Fervo Energy's competitors?

    Competitors of Fervo Energy include TAS Energy and 4 more.

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