Fervo Energy Company (FRVO)

Fervo Energy Company develops geothermal power using enhanced geothermal systems. Adapting horizontal drilling and well-completion techniques from the oil and gas industry, Fervo creates engineered reservoirs in hot rock that lacks natural permeability, circulating water through them to produce steam and generate electricity around the clock.

The company demonstrated its approach at its Project Red pilot in Nevada and is developing Cape Station, a large commercial geothermal project in Beaver County, Utah. Fervo sells power under long-term agreements to utilities and large corporate buyers, including technology companies seeking firm, carbon-free electricity.

Fervo Energy was founded in 2017 and is headquartered in Houston, Texas. Its Class A common stock trades on the Nasdaq.