Geothermal Power Firm Fervo Energy Files for IPO (Correct)

Fervo Energy Co. filed for an initial public offering, disclosing wider losses as it plans to start generating power from its first geothermal project in Utah later this year.

The Houston, Texas-based geothermal energy developer had a net loss of $70.5 million in the year ended Dec. 31, 2025, compared with a net loss of $41.1 million a year earlier, according to its filing Friday with the US Securities and Exchange Commission.

In December, Fervo raised $462 million from a Series E funding round led by B Capital, the venture capital firm led by Facebook co-founder Eduardo Saverin, and including ...