Fervo Energy Raises $244 Million in a funding round led by Devon Energy to accelerate deployment of next-generation geothermal.
Amount Raised
$244 Million
Round Type
Series A
HoustonEnergyRenewable EnergySolarInvestors
Description
Fervo Energy, the leader in next-generation geothermal development, announced a new funding round of $244 million led by Devon Energy. The funding will unlock Fervo’s next phase of growth, deploying proven technology adapted from the oil and gas industry at scale to deliver commercially viable 24/7 carbon-free energy.
Quick answer
Fervo Energy raised $244 Million in a Series A round, dated February 29, 2024. Investors: Capricorn's Technology Impact Fund, Impact Science Ventures, Helmerich & Payne, Elemental Excelerator, Dcvc, Congruent Ventures, Mitsubishi Heavy Industries and Mercuria. Fervo Energy is based in Houston, Texas, United States.
- How much did Fervo Energy raise?
- Fervo Energy raised $244 Million in a Series A round on February 29, 2024.
- Who invested in Fervo Energy?
- Capricorn's Technology Impact Fund, Impact Science Ventures, Helmerich & Payne, Elemental Excelerator, Dcvc, Congruent Ventures, Mitsubishi Heavy Industries and Mercuria are named as investors in this round.
- What does Fervo Energy do?
- Fervo Energy provides 24/7 carbon-free energy through the development of next-generation geothermal power.
- Where is Fervo Energy based and how big is it?
- Fervo Energy is based in Houston, Texas, United States.
- Who are the decision-makers at Fervo Energy?
- Fundz holds 2 contacts at Fervo Energy, including the Head of Asset Management. Names and contact details are shown to Fundz members.
Source: Fundz verified event record.
Who else raised in Energy and Renewable Energy around the same time
Companies in the same sectors as Fervo Energy that raised within 45 days of this round, from Fundz verified event records.
- zolar raised $108M (Funding Round) on April 8, 2024.
- MN8 Energy Holdings raised $325M (Post-IPO Equity) on April 1, 2024.
- Lightyears Solar raised $6M (Funding Round) on March 26, 2024.
- Niko Energy raised $3.3M (Seed) on March 14, 2024.
- Enviria raised $200M (Series B) on February 29, 2024.
- SunPower raised $300M (Funding Round) on February 23, 2024.
Who to call at Fervo Energy, and when
A new round usually means Fervo Energy is about to hire and buy. The teams that reach out first get the meeting.
- An alert the day Fervo Energy raises, hires an executive or expands, scored against what you sell
- The decision-makers there, with verified emails
- Who you already know at Fervo Energy, from your own LinkedIn network
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Funding Insights
What this usually meansFervo Energy raised. Fundz records a round at a median of 3.6 minutes from the SEC filing, with the decision-maker attached.
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