Geothermal company Fervo Energy has signed a major deal to sell power to Alphabet’s Google from a Utah project that it plans to turn into the world’s largest enhanced geothermal facility. The agreement for nearly 400 megawatts of electricity is enough to power a midsize city and would be Fervo’s largest-ever power deal. Fervo plans...
SLB agreed to acquire thermal management company Kelvion from private-equity funds for $4.1 billion. The oil drilling and production company said Monday that the acquisition is meant to strengthen its growing data center business. “This transaction accelerates our ambition to become an industrial technology partner to the data center industry and help customers address the...
Woodside Energy considers everything to be on the table in a review of its Beaumont New Ammonia facility in Texas, raising the prospect that it could seek a buyer for a project that it agreed to acquire for US$2.35 billion only two years ago. Chief Executive Liz Westcott said the review reflected a shift in...
A startup that makes giant iron-air batteries that store enough power to last several days has raised a new round of funding valued at $750 million. Form Energy, which has now raised more than $2 billion in total, plans to use the money to boost manufacturing at its Weirton, WV, plant and for its first...
Not long ago, the artificial intelligence boom lifted pretty much any stockwith a story to tell about serving electricity to data centers. Investors are getting more fretful about whether there will be enough power demand to go around. For them, selling into a tight market in the 2030s would be a nice way to fund the continued...
In 2011, after the Fukushima disaster, Germany made the fateful decision to switch off its nuclear plants. Now, two have been promised a second life as fusion-energy projects in a high-risk technology bet aimed at revitalizing Europe’s industrial core. The plan rides on two ventures that are pursuing the same dream—creating a star on Earth to create abundant...
The American steel industry is reaping the benefits of the AI data-center construction boom. But now, steelmakers are warning of a high-stakes competition with their data-center customers for a commodity they both require: electricity. Data centers’ insatiable demand for electricity is driving up power costs for steel companies by tens of millions of dollars a year and...
Drew Bond wrote a letter to the Wall Street Journal on the red tape and poor tax credits hindering the solar industry. Rahm Emanuel rightly identifies America’s dependence on Chinese solar as a policy failure in his op-ed “On Energy, Democrats Can Learn From Texas” (June 16), but he misattributes the cause. The U.S. didn’t lose...
Forget about learning to code. Meta says it’s time to pick up a wrench. The company is starting a “workforce academy” to train Americans to build its data centers as skilled trade workers become a sought-after commodity. The five-week training program, in partnership with CBRE and the Associated Builders and Contractors, is free of charge and guarantees graduates a job at...
Tech companies are earmarking unprecedented sums of money to finance the build-out of massive data centers, with a planned $80 billion equity-raise by Google parent being the latest example. But even as the piles of capital secured have grown ever larger, the ability to deploy it in the artificial-intelligence race has become less certain. Supply-chain backlogs, permitting...
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