Geothermal energy technology developer Fervo has received $28m from investors including Congruent Ventures and Helmerich & Payne.
Fervo Energy, a US-based geothermal energy technology developer, has closed a $28m series B round backed by Congruent Ventures, the venture firm backed by University of California.
Capricorn Investment Group led the round, which also featured petroleum contract drilling company Helmerich & Payne, Breakthrough Energy Ventures, 3X5 Partners and Elemental Excelerator.
Fervo Energy has created technology to increase the efficiency and lower the cost of harnessing carbon-free geothermal energy.
The technology was developed thanks to a grant…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
