CEO: ‘We’re Building the Firm Clean Power Fleet of the Next Decade’
Fervo CEO and co-founder Tim Latimer said soaring demand for dependable, carbon-free power is rewriting the energy landscape.
“Energy markets are demanding dependable, carbon-free power at an unprecedented scale, and Fervo is uniquely positioned to supply it,” Latimer said. “This funding sharpens our path from breakthrough technology to large-scale deployment at Cape Station and beyond.”
He added that the company is building “the clean, firm power fleet the next decade requires—and we’re doing it now.”
A Mix of New and Returning Investors
The Series E round was led by B Capital, with participation from new investors including AllianceBernstein, Atacama Ventures, Carbon Equity, Climate First, Google, and others. Major existing investors—such as Breakthrough Energy Ventures, CalSTRS, Capricorn Investment Group, Centaurus Capital, and Congruent Ventures—also doubled down.
“Fervo is setting the pace for the next era of clean, affordable and reliable power in the U.S.,” said Jeff Johnson, general partner at B Capital. With electricity demand surging due to AI and electrification, Johnson said the grid needs “scalable, always-on solutions,” arguing that enhanced geothermal is positioned to deliver exactly that.
