# Fervo Energy

> Next-generation enhanced geothermal systems delivering 24/7 carbon-free electricity.

## Why it is interesting

Houston geothermal that reached public markets: Nasdaq FRVO IPO (May 2026) raised ~$1.89B at $27/share after a $462M Series E — oilfield drilling techniques applied to firm clean power.

## Profile

- **Latest funding:** Series E — $462M (December 2025)
- **Latest known valuation:** ~$10.2B debut (reported) (May 2026)
- **Total disclosed equity funding:** $462M
- **Stage:** public
- **Status:** public
- **Industries:** climate-tech, deep-tech
- **Coverage:** full
- **Last updated:** 2026-07-26
- **Latest funding investors:** B Capital, Breakthrough Energy Ventures, Capricorn Investment Group, Devon Energy, Google

## Key facts

- IPO (May 2026): Nasdaq FRVO; ~$1.89B raised at $27/share; debut valuation ~$10.2B (Reuters)
- Series E (Dec 2025): $462M led by B Capital
- HQ: Houston, TX; founders Tim Latimer & Jack Norbeck (2017)
- Tech: EGS using oil & gas drilling/sensing methods for firm geothermal power

## Funding history

- IPO · ~$1.89B · May 2026
  Source: https://www.reuters.com/business/energy/fervo-energy-valued-1021-billion-shares-rise-nasdaq-debut-2026-05-13/
- Series E · $462M · December 2025
  Source: https://forgeglobal.com/fervo-energy_ipo/

## Related articles

- https://venturecapitaltracker.com/houston-startups-and-vc-firms-2026

**By:** [Venture Capital Tracker](https://venturecapitaltracker.com/editorial-policy)
**Last updated:** July 26, 2026

**Editorial note:** AI tools assisted with research, structure, or drafting. Venture Capital Tracker retains human editorial responsibility for factual accuracy, relevance, and source quality before publication.

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Source: https://venturecapitaltracker.com/startup/fervo-energy