Yahoo Finance·2025-12-10 12:05Core Insights - Fervo Energy has raised $462 million to advance its first large-scale power plant and initiate development on additional projects to meet growing electricity demands [1] - The funding round was led by B Capital, with participation from various notable investors including Google and Devon Energy [2] - Fervo has a partnership with Google to supply electricity for its data centers, targeting to bring the first phase of its Cape Station online by 2026 [3] Company Developments - Fervo is working on its 500-megawatt Cape Station power plant in Utah, which is expected to be mechanically complete this year [3] - The company previously raised $206 million in financing six months ago and nearly $500 million in equity and debt last year [3] - Fervo is recognized as a leader in enhanced geothermal energy, utilizing advanced drilling techniques to access hotter rocks for increased power generation [6] Industry Trends - Enhanced geothermal energy is gaining traction due to rising demand from data centers, with projections indicating it could meet nearly two-thirds of new data center energy needs by 2030 [4] - The technology is viewed positively by the current administration, with past investments from energy sector players indicating strong support for geothermal solutions [5] - Fervo's drilling efficiency has improved significantly, reducing the average time to complete a well from about a month to approximately 16 days [7]