Fervo Energy is set to launch an initial public offering that could raise $1.8 billion. The geothermal power company will list under the ticker FRVO when Nasdaq opens. This debut stands as one of the largest Wall Street entries for renewable energy in years.
Fervo Energy uses horizontal drilling and fiber-optic sensing to access geothermal heat for electricity generation. The company has already produced enough power in Nevada to supply about 2,600 homes and is constructing a much larger Cape Station facility in Utah that is scheduled to begin operations later this year.
