This Bill Gates-Backed Geothermal Startup Just Landed $462 Million

Fervo Energy Raises Another $462 Million

The enhanced geothermal company Fervo is raising another $462 million, bringing on new investors in its Series E equity round.The lead investor is a new one to the company’s books: venture capital firm B Capital, started by Facebook co-founder Eduardo Saverin. Fervo did not disclose a valuation, but Axios reported in March that it had been discussing an IPO in the next year or two at a $2 billion to $4 billion valuation.Much of the capital will …

This Bill Gates-Backed Geothermal Startup Just Landed $462 Million

Fervo Energy uses hot underground rocks to create electricity. Google is also an investor.

Google invests in Fervo’s $462M round to unlock even more geothermal energy

Fervo Energy's Series E round will help the company build additional phases of its Cape Station power plant while beginning development on new sites.

Fervo Energy $462M Funding Round Powers Ambitious Geothermal Expansion

Geothermal innovator Fervo Energy announced Wednesday that it has closed an oversubscribed Series E funding round, raising $462 million to accelerate its march toward large-scale, next-generation clean power deployment. The company, advised by Vinson & Elkins LLP, said the fresh capital will supercharge corporate growth while fueling rapid development across its expanding project pipeline. Cape Fervo Energy $462M Funding Round fuels major geother

Google, Bill Gates’ Breakthrough Energy Back $462 Million Fundraise for Geothermal Developer Fervo Energy

Geothermal energy project developer Fervo Energy announced that it has raised $462 million aimed at supporting the development of its large-scale project in Utah and other new carbon-free energy projects, with the new Series E funding round adding Google as a new investor, and Bill Gates-backed Breakthrough Energy Ventures as a returning investor. Founded in 2017, Houston Texas-based Fervo Energy focuses on the development of enhanced geothermal…