Fervo Energy lands $206M in financing to build massive geothermal power plant

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Geothermal frontrunner Fervo Energy said Wednesday that it had secured $206 million in financing to continue work on a new power plant in Utah. 

The startup is developing what promises to be the largest enhanced geothermal power plant in the world. The initial phase of Cape Station is expected to come online next year and produce 100 megawatts of electricity, and a subsequent expansion set to open in 2028 will add another 400 megawatts.

Enhanced geothermal, which runs deeper and hotter than traditional geothermal, has become a favored…



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Fervo Energy lands $206M in financing to build massive geothermal power plant


Geothermal frontrunner Fervo Energy said Wednesday that it had secured $206 million in financing to continue work on a new power plant in Utah. 

The startup is developing what promises to be the largest enhanced geothermal power plant in the world. The initial phase of Cape Station is expected to come online next year and produce 100 megawatts of electricity, and a subsequent expansion set to open in 2028 will add another 400 megawatts.

Enhanced geothermal, which runs deeper and hotter than traditional geothermal, has become a favored…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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