Geothermal Unicorn Fervo Energy, IPO as next year

Geothermal Starting Fervo Energy, it is reportedly expected to wait for a preliminary public proposal in the next two years.

Managing perfect is the growing concern of the increase in power demand from data centers Double by 2029. “Currently, there is a great hunger in folk markets, how to understand, how do we solve the story of power?” CEO Tim Latimer gossip for axios.

Despite the conversation, an IPO is unlikely to be inevitable.

The beginning is a “awesome place” that a source of recent funds recently recently gave a source of a source near Fervo. The company raised $ 244 million In February 2024 and more than $ 255 million In DecemberThe second is divided between equality and debt equality in equality.

Fervo approach makes continuous progress with trade Geothermal powerOil and gas companies use drilling techniques in a wide area to touch resources, which extends to the sensors and fiber optic cables, and the company allows the company to focus on time.

Starting competes to lower the boring costs. Last year, 21 days, he dug a horizontal well, he said that 70% less time for the first well. And last week Latimer said Fervo’s target a target 50% Cost Reduction About projects this year.

FERVO currently works in Geothermal Power Station in the first place with Google. The project is known red, which can provide 3.5 megawatts of electricity to Nevada Grid, and Google can help make power usage.

FERVO and other developed geothermal beginnings believe that oil and gas companies are similar in many ways, it will be a slightly safer game during the current Koz Office. For example, Energy Secretary Chris Wright monitors an investment Fervoya while the Director General of Liberty. An oil treatment company took part in a $ 138 million round in 2022.