Fervo Energy Reports Q1 2026 Loss, Completes $2.2B IPO

Fervo Energy completed a $2.2 billion IPO in May 2026 and reported a Q1 net loss of $31.8 million while advancing its Cape Station geothermal project toward Q4 2026 commercial operation. The company secured a 3-gigawatt Google framework agreement and $421.4 million in project financing, positioning it as a leading provider of firm renewable power.