Fervo Energy provides 24/7 carbon-free energy through development of next-generation geothermal power. Fervo's mission is to leverage innovation in geoscience to accelerate the world's transition to sustainable energy. Geothermal has a major role to play in the future electric grid and Fervo's key innovations bring a full suite of modern technology to make geothermal cost competitive. Fervo's innovations include technologies such as advanced computational models, horizontal drilling, and distributed fiber optic sensing that have been developed with partners including Schlumberger, ARPA-E, and the Lawrence Berkeley National Lab. Fervo has an industry leading development pipeline with projects with multiple partners including Google and East Bay Community Energy.
| Date | Amount | Type | Investors | Valuation |
|---|---|---|---|---|
| 08/22/22 | $138,000,000 | Series C |
3x5 Partners Breakthrough Energy Ventures Canada Pension Plan Investment Board Capricorn's Technology Impact Fund Congruent Ventures DCVC  Elemental Excelerator Grantham Foundation Helmerich & Payne Impact Science Ventures Liberty Energy Macquarie Capital Prelude Ventures | undisclosed |
| 02/29/24 | $244,000,000 | Venture |
Capricorn's Technology Impact Fund Congruent Ventures DCVC Devon Energy Elemental Excelerator Galvanize Climate Solutions Helmerich & Payne Impact Science Ventures John Arnold Liberty Mutual Investments Marunouchi Innovation Partners Mercuria Investment Co Mitsubishi Heavy Industries America | undisclosed |
| 12/19/24 | $255,000,000 | Venture |
Breakthrough Energy Ventures CalSTRS Capricorn's Technology Impact Fund Congruent Ventures CPP Investments DCVC Devon Energy Galvanize Climate Solutions Liberty Mutual Investments Mercuria Energy Group Sabanci Climate Ventures | undisclosed |
