H&P Continues to Invest in Fervo Energy's Next-Generation Geothermal Efforts
Late this summer, Fervo Energy announced that it had raised $138 million in new funding to build, own and operate 24/7 carbon-free power plants. The round saw strong participation from existing investors including H&P.
H&P is committed to improving lives through efficient and responsible energy. Investing in unconventional geothermal is one way we can appreciate our past as we look to the future. Fervo Energy's latest news is a big step toward their mission and exciting for those of us who collaborate with them.
Fervo has adapted innovations pioneered by the oil and gas industry, such as horizontal drilling and distributed fiber optic sensing, to make reservoirs of hot rock that exist beneath the earth’s surface into practical, economically viable, clean sources of energy. The new funding helps Fervo complete power plants in both Nevada and Utah and evaluate new projects in California, Idaho, Oregon, Colorado, New Mexico and internationally.