Fervo Energy IPO — 70,000,000 Class A shares at $27.00 (upsized from 55.6M); next-generation enhanced geothermal systems (EGS); proceeds fund the Cape Station project, Beaver County, Utah; Nasdaq: FRVO

Fervo Energy Series C — enhanced geothermal systems (EGS) using horizontal drilling

Fervo Energy → DCVC (lead); CPP Investments, Liberty Energy, Macquarie, Grantham Foundation, Impact Science Ventures, Prelude Ventures

$138M

Initial Devon Energy investment in Fervo Energy — geothermal technology partnership

Fervo Energy → Devon Energy

$10M

Project Red — 3.5 MW Enhanced Geothermal System (EGS) pilot, Beaver County, Nevada — first commercial EGS to deliver power to grid

Fervo Energy → Google (via NV Energy)

3.5 MW

Geopressured Geothermal System — 150 MW (Phase 1: 4-8 MW by 2027; Phase 2: 150 MW by 2029), east of Rocky Mountains

Sage Geosystems → Meta

150 MW

Sage Geosystems $97M+ Series B — Pressure Geothermal power + long-duration energy storage

Sage Geosystems → Ormat Technologies ($25M, co-lead), Carbon Direct Capital (co-lead), Exa, Nabors, alfa8, Arch Meredith, Abilene Partners, Cubit Capital, Ignis H2 Energy, SiteGround Capital, UC Berkeley Foundation Climate Solutions Fund

$97M+

Mira Loma Battery Storage Facility — 20 MW / 80 MWh Li-ion (~400 Tesla Powerpacks)

Tesla → Southern California Edison

20 MW