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Fervo Energy raised $421M in non-recourse debt financing to support the construction of Cape Station, led by RBC Capital Markets and other investors.

PUBLIC · FRVOMar 19, 2026•2 months ago

Amount Raised

$421 Million

HoustonEnergyRenewable EnergySolar

Investors

Sumitomo Mitsui Trust Bank, Limited, New York BranchBank Of AmericaJ.P. MorganSociété GénéraleMufgHsbcBbvaBarclaysRbc Capital Markets

Description

Fervo Energy, a Houston-based geothermal energy company, secured $421M in debt funding, which includes a construction-to-term loan and other financial facilities. The investment will help complete the Cape Station project, expected to provide significant carbon-free energy. With advanced technologies, Fervo is poised to meet the growing demand for geothermal power. The project is fully contracted through agreements with major energy providers.

Company Information

Company

Fervo Energy

Location

Houston, Texas, United States

About

Fervo Energy provides 24/7 carbon-free energy through the development of next-generation geothermal power. Fervo’s mission is to leverage innovation in geoscience to accelerate the world’s transition to sustainable energy. Geothermal has a major role to play in the future electric grid, and Fervo’s key advancements in drilling and subsurface analytics bring a full suite of modern technology to make geothermal cost competitive.

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Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech

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