Nearly four years ago, Google announced a partnership with enhanced geothermal company Fervo Energy. In 2023, the companies successfully put carbon-free energy on the grid that serves Google’s Nevada data centers. And by the end of 2024, Fervo had secured $255 million in new funding and capital availability, its second quarter-billion-dollar fundraiser in less than a year.
Meanwhile, Meta is betting on a different approach to geothermal for data centers, via a partnership with the startup Sage Geosystems, which also builds long-duration energy storage. The two signed a partnership in August 2024.
These startups and their peers may soon have even more interest — and Google and Meta may have some competition for securing enhanced geothermal power. According to a new Rhodium Group report, behind-the-meter enhanced geothermal energy could meet up to 64% of the forecasted growth in electricity demand at hyperscale facilities across the U.S.
Read more in Latitude Media here.
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