Fervo Energy

Fervo Energy

Private
Houston, TexasEnergy & Sustainabilityhttps://www.fervoenergy.com

Last Round

IPO

4/17/2026

Total Funding Raised

$1.7B

Momentum Score

25 /100

Company Overview

Fervo Energy is a clean energy company that develops next-generation geothermal power projects to provide carbon-free energy and enhance the future electric grid.

Sector

Energy & Sustainability

Verticals

Renewable Energy, Smart Grid, Sensors

Business Model

B2G

Customer Profile

Government Contracts

AI Layer

Non-AI

Keywords

enhanced geothermal systemsEGSgeothermal power24/7 carbon-free energyPower Purchase AgreementsPPAshorizontal drillingnext-gen geothermalbaseload powergeothermal project developmentfirm clean poweroil and gas technologyutility scale powerhydraulic fracturingdata center powerfiber optic sensing

Historical Pricing

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Caplight Momentum Score

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Fervo Energy Comps

Public and private peers based on sector, stage, and business model.

CompanyStatusEst. ValuationRev Multiple
OpenAIPrivate$86.0B~40x
CoherePrivate$5.0B--
Competitor 1Public$XX.XBXXx
Competitor 2Public$XX.XBXXx

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Fervo Energy Funding Rounds

Historical fundraising activity

RoundDateAmount RaisedValuationInvestorsSources
IPO4/17/2026
Debt3/19/2026
Series E12/10/2025
Debt6/11/2025
Debt12/19/2024
Corporate Funding
12/19/2024

Key People

Founding team and executive leadership

Jack Norbeck

Co-Founder And CTO

Founding Team

Richard Chow

CEO Coach Advisor

Executive Team

Tim Latimer

Chief Executive Officer

Executive Team

David Ulrey

Chief Financial Officer

Executive Team

Fervo Energy Investors

Notable investors and investment history

InvestorRounds
CPP InvestmentsCorporate Funding, Series E, Series C
Barclays Bank PLCDebt
AllianceBernsteinSeries E
Capricorn Investment GroupSeries D, Series E, Series B
Mitsubishi UFJ Financial GroupIPO, Debt
Sumitomo Mitsui Trust BankDebt
Elemental ImpactSeries D, Series C

Market signals

Structured signals derived from secondary market and firmographic data.

  • Dec 31, 2026

    Enhanced geothermal plant to be completed by end of 2026.

  • Apr 17, 2026

    Completed an IPO round of funding.

Fervo Energy Filings

SEC and related filings with document metadata.

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Fervo Energy Filings

SEC and related filings with document metadata.

Frequently Asked Questions

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Firmographic Details

HeadquartersHouston, Texas
Employee Range211
Year Founded2017
Last Funding4/17/2026

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