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Founded Year

2017

Stage

Corporate Minority | Alive

Total Raised

$176.4M

Last Raised

$10M | 5 mos ago

About Fervo Energy

Fervo Energy develops geothermal energy for generating clean power. It provides carbon-free energy through the development of next-generation geothermal power plants. Its offers technologies such as advanced computational models, horizontal drilling, and distributed fiber optic sensing. Fervo Energy was founded in 2017 and is based in Houston, Texas.

Headquarters Location

609 Main Street

Houston, Texas, 77002,

United States

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ESPs containing Fervo Energy

The ESP matrix leverages data and analyst insight to identify and rank leading companies in a given technology landscape.

EXECUTION STRENGTH ➡MARKET STRENGTH ➡LEADERHIGHFLIEROUTPERFORMERCHALLENGER
Industrials / Energy Tech

The direct air capture market refers to the process of capturing carbon dioxide (CO2) directly from the atmosphere using advanced technologies such as chemical scrubbers and absorption systems. This captured CO2 can then be stored or utilized in various industrial applications, such as enhanced oil recovery, carbonated beverages, or construction materials. The market for direct air capture is driv…

Fervo Energy named as Highflier among 15 other companies, including Climeworks, Carbon Capture, and Global Thermostat.

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Research containing Fervo Energy

Get data-driven expert analysis from the CB Insights Intelligence Unit.

CB Insights Intelligence Analysts have mentioned Fervo Energy in 3 CB Insights research briefs, most recently on Sep 12, 2023.

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

2,920 items

Companies in the Renewable Energy space, including solar, wind, hydro, geothermal, and nuclear energy providers, as well as related software developers.

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

Emerging firm and peaking clean energy tech can slash carbon-free power costs: Google

Sep 15, 2023

Google is urging corporate clean energy buyers to help commercialize technologies like next-generation geothermal, carbon capture and storage, advanced nuclear, hydrogen and long-duration storage. Published Sept. 15, 2023 Fervo Energy's Project Red enhanced geothermal facility in Nevada. Emerging firm and peaking clean energy technologies – such as next-generation geothermal, carbon capture and storage, advanced nuclear, hydrogen and long-duration storage – can sharply reduce the cost of having carbon free energy, Google said Thursday. Permission granted by Fervo Energy Emerging firm and peaking clean energy technologies — such as next-generation geothermal, carbon capture and storage, advanced nuclear, hydrogen and long-duration storage — can sharply reduce the cost of having carbon free energy, Google said in a paper released Thursday. In a 90% emissions-free scenario, Google’s modeling found that adding advanced clean firm and peaking resources can cut the cost of a portfolio of wind, solar and four-hour lithium-ion batteries by 40%, according to the paper, The Corporate Role in Accelerating Advanced Clean Electricity Technologies . Although the advanced technologies are more expensive, they reduce the over-procurement of wind, solar and storage, which would otherwise be needed to cover periods of low output from the variable resources, Google said. “Firm technologies can produce electricity during the most expensive hours when wind and solar are unavailable,” Google said. “Taking these factors into account, our modeling finds that a cost-optimal portfolio includes a diverse mix of [variable renewable energy], clean firm generation, and flexible balancing resources, including energy storage of varying durations.” Also, Google said its modeling showed that advanced clean electricity technologies can reduce market risks in clean energy portfolios, including mismatches between hourly generation and electricity use. “A diverse portfolio can also hedge against uncertainty in future technology cost and deployment trajectories and the possibility of over-reliance on any single technology that ultimately fails to deliver hoped-for improvement,” Google said. In its modeling, Google said it focused on next-generation geothermal, carbon capture and storage, advanced nuclear, hydrogen and long-duration storage, partly because of their expected pricing and potential for cost cuts, scalability and environmental factors. “We are most interested in technologies that have potential for significant cost declines through repeated deployment so that our efforts can spur further technological progress,” Google said. However, advanced clean energy technologies face major financial, regulatory and power market barriers, according to Google. “We need much greater capital investment in the next generation of advanced clean electricity technologies today to move them down their own cost curves and toward cost competitiveness and widespread market adoption,” Google said. Voluntary clean energy buyers can help spur emerging technologies, according to the company. Google urged companies to consider signing power purchase agreements to help enable financing and construction of initial commercial plants while possibly making direct investments in projects. Google, for example, has a contract to buy power from Fervo Energy, an advanced geothermal startup company. Companies should also work with utilities and regulators to develop new approaches to green tariffs, according to Google. “These ‘Clean Transition Tariffs’ can buy down the cost of the utility transition for all ratepayers while appropriately crediting the participating customer for the value these new resources bring to the grid,” the company said. With 6.2 GW of renewable energy under contract, Google is one of the largest voluntary clean energy buyers in the United States. Google is 64% towards its goal of running exclusively on clean energy 24/7 by 2030 on the grids where it operates, according to its 2023 environmental report , released in July. Recommended Reading

Fervo Energy Frequently Asked Questions (FAQ)

  • When was Fervo Energy founded?

    Fervo Energy was founded in 2017.

  • Where is Fervo Energy's headquarters?

    Fervo Energy's headquarters is located at 609 Main Street, Houston.

  • What is Fervo Energy's latest funding round?

    Fervo Energy's latest funding round is Corporate Minority.

  • How much did Fervo Energy raise?

    Fervo Energy raised a total of $176.4M.

  • Who are the investors of Fervo Energy?

    Investors of Fervo Energy include Devon Energy, Elemental Excelerator, Breakthrough Energy Ventures, 3x5 Partners, Capricorn Investment Group and 14 more.

  • Who are Fervo Energy's competitors?

    Competitors of Fervo Energy include Criterion Energy Partners and 6 more.

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Trusted by the world's smartest companies to:
  • Predict emerging trends
  • See competitors' playbooks
  • Stalk the smart money
  • Identify tomorrow's challengers
  • Spot growing industries
  • Kill analyst data work
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Compare Fervo Energy to Competitors

Eavor Logo
Eavor

Eavor is a geothermal, technology-based energy company that specializes in clean, dispatchable, and baseload-capable power. It offers closed-loop geothermal technology and harvests heat for commercial heating applications. The company's products include Eavor-Lite and Eavor-Deep. Eavor was founded in 2017 and is based in Calgary, Canada.

Sage Geosystems Logo
Sage Geosystems

Sage Geosystems provides research, development, and deployment of geothermal technologies. It offers a proprietary supercritical CO2 (sCO2) turbine to use turn heat into electricity. Its key geothermal well designs include HeatRoot, HeatCycle, Battery+, and HeatFlood. The company was founded in 2020 and is based in Houston, Texas.

Quaise Logo
Quaise

Quaise operates an industrial company utilizing millimeter wave drilling technology to access deep geothermal energy. This technology uses a gyrotron to generate millimetric electromagnetic waves for drilling at depths. Quaise was founded in 2018 and is based in Cambridge, Massachusetts.

GreenFire Energy Logo
GreenFire Energy

GreenFire Energy develops and implements geothermal technology to accelerate the transition to clean, continuous renewable energy. It extracts and transports heat from the earth for geothermal power generation. It leverages geothermal wells, resources, and infrastructure to accelerate deployments. The company was founded in 2014 and is based in Walnut Creek, California.

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Eesti Energia

Eesti Energia is an Estonian state-owned energy company that provides electricity, gas, heat pumps and solar panels. The company owns and operates wind parks, CHP plants, hydroelectric plants and solar power stations. It serves business and private clients. Eesti Energia was founded in 1939 and based in Tallinn, Estonia.

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