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

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

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

//business-finance.news-articles.net/content/202 .. d-massive-geothermal-power-plant-techcrunch.html

Published in Business and Finance on Sunday, June 15th 2025 at 12:00 GMT by TechCrunch
^{🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source}

Fervo is developing what promises to be the largest enhanced geothermal power plant in the world.

2025-06-15 312 x 208 / 117081 Bytes

Fervo Energy, a geothermal energy startup, has secured $206 million in financing to construct a massive geothermal power plant in southwest Utah, aiming to produce 400 megawatts of clean energy. The funding round was led by Devon Energy, with participation from existing investors like DCVC and Prelude Ventures, and new investors including Liberty Mutual and Marunouchi Capital. This project, set to be the largest of its kind globally, will utilize Fervo's innovative drilling technology to tap into geothermal reservoirs, significantly contributing to the decarbonization of the energy sector. The plant is expected to begin operations by 2028, providing a substantial boost to the region's renewable energy capacity and supporting the broader goal of achieving net-zero emissions.

Read the Full TechCrunch Article at:
[ https://techcrunch.com/2025/06/11/fervo-energy-lands-206m-in-financing-to-build-massive-geothermal-power-plant/ ]