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

Cape Station Enhanced Geothermal System (EGS) — Phase 1 ~100 MW, scaling to 500 MW by early 2027, Beaver County, Utah

Fervo Energy → RBC Capital Markets, Barclays, BBVA, HSBC, MUFG, Société Générale, J.P. Morgan, Bank of America, Sumitomo Mitsui Trust Bank

$421M

Fervo Energy / Turboden 1.7 GW Geothermal ORC Turbine Supply Framework Agreement — 35 GeoBlocks of 50 MW each

Fervo Energy

Fervo Energy IPO (Nasdaq: FRVO) — enhanced geothermal systems pure-play; flagship 500 MW Cape Station EGS project in Beaver County, Utah; 3.65 GW disclosed pipeline (under construction / ready to build / advanced development)

Fervo Energy → J.P. Morgan, BofA Securities, RBC Capital Markets, Barclays (joint lead bookrunners); Baird, BBVA, Guggenheim, MUFG, Société Générale, William Blair, Piper Sandler, Wolfe|Nomura (additional bookrunners)

Zanskar AI-native geothermal exploration platform — $40M development capital facility (initial close, structured to scale to $100M); projects in Nevada (Pumpernickel, Big Blind), New Mexico (Lightning Dock), and California

Zanskar → Just Climate; Spring Lane Capital; Tierra Adentro Growth Capital

$40,000,000

Corsac Station Enhanced Geothermal — 115 MW EGS, Nevada (powering Storey County data centers)

Fervo Energy → Google (via NV Energy Clean Transition Tariff)

115 MW

80 MW PPA from the 471 MW Mockingbird Solar Center under construction near Paris, Texas — brings project to fully contracted status

Ørsted (Mockingbird Solar Center) → Bloomberg LP