Energy
Geothermal Startup Fervo Attracts Investors Including Google
Steam from thermal vents.
Photographer: David McNew/Getty Images
Fervo Energy, the US geothermal startup whose technology uses the earth’s heat to generate power, raised $462 million from a group of new and existing investors.
The series E funding round was led by B Capital, Fervo said Wednesday in a statement. Other new investors include Alphabet Inc.’s Google, Tesla Inc. co-founder JB Straubel, and Kris Singh, the founder of nuclear company Holtec International Corp. Existing investors participating in the latest fundraising include Bill Gates’ investment firm Breakthrough Energy Ventures and shale oil producer Devon Energy Corp.