Houston-based Fervo Energy is preparing for a US initial public offering on the Nasdaq, targeting a valuation of up to 6.5 billion dollars. The company intends to raise 1.3 billion dollars by issuing 55.6 million shares to fund its advanced geothermal energy projects. Fervo focuses on developing next generation geothermal systems that provide constant, carbon-free baseload power. This technology serves as a reliable alternative to intermittent renewable sources like wind and solar, addressing the need for steady green energy on the power grid.
