Fervo Energy (FRVO) will host an investor open house at Cape Station in Beaver County, Utah, on November 19, 2026.
Cape Station declared commercial operation on September 30, 2026. The visit includes a site tour and questions with the team, with no formal presentations. Space is limited, and confirmed attendees will receive logistics and safety information in advance.
Fervo Energy (FRVO) launched Ground Truth, a six-part narrative podcast tracing the geothermal company's development from a graduate-school pitch to a public offering. Episode One, “Twenty Feet of Water,” is available on Spotify, Apple Podcasts, YouTube and the company's podcast website.
Hosted by Fervo multimedia producer Olivia Johnson, the series combines interviews with company personnel and field recordings from Cape Station. Its subjects include the founders' meeting at Stanford, Project Red in Nevada, contracts that financed growth, Cape Station's construction in Utah and Fervo's May 2026 Nasdaq debut. New episodes will be released on the same platforms.
Fervo Energy (FRVO) reached commercial operation at its first Cape Station power plant in Utah on September 30, ahead of schedule. The first GeoBlock, a power facility, began generating revenue under its power purchase agreement one day before its contractual deadline. It achieved 33 MW of net power production, meeting the agreement's expected production threshold.
Phase I comprises approximately 100 MW across three GeoBlocks. Fervo expects the remaining two, currently being commissioned, to reach contractual commercial operation by January 1, 2027. An additional 400 MW is under construction, with commercial operation expected in 2028. Across its portfolio, Fervo has signed over 1 gigawatt of binding power purchase agreements.
Fervo Energy (FRVO) announced on September 24, 2026, that Cape Station in Utah achieved First Power and began exporting electricity.
The first of three 33 MW GeoBlocks in Cape Station’s approximately 100 MW Phase I has reached this milestone. It is expected to reach its contractual commercial operations date by October 1, 2026. The other two GeoBlocks are being commissioned and are expected to reach contractual commercial operation by January 1, 2027.
An additional 400 MW phase is under construction, with commercial operation expected in 2028. Approximately 900 MW of Cape Station offtake is fully contracted. Fervo’s Project Red has supplied electricity to the grid since 2023; Cape Station extends the technology to a new development site.
Fervo Energy (FRVO) received two U.S. Department of Energy awards totaling approximately $20 million to advance Enhanced Geothermal Systems (EGS) projects in Idaho and Nevada.
In Idaho, funding will support drilling and completion of EGS wells in Elmore County with multiple national labs, and deployment of new technology for high-temperature EGS operations and geophysical data collection. In Nevada, the grant backs a targeted appraisal campaign in Humboldt County to confirm EGS reservoir suitability, complementing Fervo’s existing 3 MW Project Red pilot that has supplied power to the Nevada grid since 2023.
Fervo Energy (Nasdaq: FRVO) announced a 396 MW power purchase agreement (PPA) with Google for carbon-free energy from the Cape Station enhanced geothermal GeoCluster in Utah, which is expected to come online in 2028. According to Fervo Energy, Google also receives an option to expand offtake by about 600 MW by June 2030, for nearly 1 GW total.
The PPA is described as the world’s largest enhanced geothermal agreement to date and is designed to support a potential Google data center in Utah. Fervo states the deal unlocks new, around-the-clock capacity at no cost to existing ratepayers and builds on earlier collaborations in Nevada.
Fervo Energy (NASDAQ: FRVO) reported Q2 2026 results, its first quarter as a public company after completing an IPO that raised approximately $2.2 billion in gross proceeds. The company recorded revenue of $113,000, an operating loss of $28.7 million and a net loss of $55.9 million. Q2 capital expenditures were $226.5 million, up from $108.0 million in Q2 2025, as Fervo invested in its Cape Station project and broader pipeline.
Cash and cash equivalents rose to $2.11 billion at June 30, 2026, with total assets of $3.54 billion and total liabilities of $554.3 million. Fervo advanced its geothermal portfolio, raising its 2030 development target to 1.1 GW, achieving mechanical completion on two GeoBlocks at the ~100 MW Cape Station Phase I, progressing Phase II toward 400 MW for 2028, and moving 400 MW into Advanced Development within a >50 GW pipeline.
Fervo Energy (NASDAQ: FRVO) announced it will release its second quarter 2026 financial and operational results before the market opens on Wednesday, August 12, 2026. The company will host a webcast and conference call at 10:00 a.m. ET (9:00 a.m. CT), accessible via the Events section of its investor relations website, with Q&A available to registered participants and a replay offered after the live event.
Fervo Energy (FRVO) reported a new drilling pace record at Cape Station Phase II with its Sawtooth 7 well. The 3.0 design well reached 19,448 ft measured depth and a 7,500 ft lateral in 21 days within a 460 °F resource.
This matches a prior 70% drilling-time reduction versus Fervo’s first commercial horizontal well, but on a deeper, hotter, longer design. According to Fervo, Cape Phase II is on track to deliver at $5,500/kW toward a long-term goal of $3,000/kW for a planned 400 MW project by 2028.
Fervo Energy (NASDAQ: FRVO) reported Q1 2026 results with an operating loss of $20.1 million and net loss of $31.8 million. Capital expenditures were $172.8 million, with about $1.2 billion expected through Q1 2027. The company completed a $2.2 billion IPO, secured $421.4 million non-recourse project financing for Cape Station Phase I, advanced construction on 100-megawatt Phase I and 400-megawatt Phase II, and signed a Geothermal Framework Agreement with Google for up to 3 gigawatts of capacity through 2033.