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CEO of geothermal startup Fervo Energy looks forward

Ben Geman of Axios reports on Fervo Energy, a geothermal startup.

The C3 Take
  • Last year Fervo Energy raised $28 million, bringing its total funding to $60 million.
  • Fervo uses horizontal drilling in tandem with fiber optic sensing to drill wells which extends the lifetime and efficiency of the geothermal wells.
  • The company expects to expand operations in 2022, but Fervo said that the current permitting system for energy on federal lands may slow down development.
  • Fervo Energy is showing that private sector innovation is key to a cleaner energy future.

“The company raised $28 million last year from investors including the Bill Gates-led Breakthrough Energy Ventures, and he said total VC funding to date is almost $60 million.”

Read the full article here.

The views and opinions expressed are those of the author’s and do not necessarily reflect the official policy or position of C3.

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