Geothermal Energy Developer Fervo Raises $1.89 Billion in US IPO

Fervo Energy Co., a geothermal energy developer, raised $1.89 billion in a US initial public offering that priced above the marketed range, after upsizing the deal earlier this week.

The Houston-based firm sold 70 million shares for $27 each, according to a statement Tuesday. Fervo had marketed the shares for $25 to $26 each after raising the price range and the number of shares offered on Monday.