# Fervo Energy Co. Startup profile on Capital Atlas: https://capitalatlas.ai/startups/fervo-energy - Industry: Renewable Energy - Headquarters: Houston, US - Website: www.fervoenergy.com - Total disclosed funding: $926M - Latest round: Series E (Dec 4, 2025) - Investors on record: 34 ## About Founded in 2017 by CEO Tim Latimer and CTO Jack Norbeck, and based in Texas, US, Fervo Energy Co. commercializes proprietary technology to develop, own, and operate geothermal assets as the dispatchable foundation to a 100% clean energy grid. Geothermal is a 24/7, carbon-free, renewable energy resource that, with the right technology, can play a central role in decarbonizing the most challenging parts of the electricity sector. In December 2025, Fervo Energy Co. raised USD 451.9 million in Series E funding led by B Capital, with participation from AllianceBernstein, Atacama Ventures, Carbon Equity, Climate First, Mitsui & Co., and Google Holdings, Breakthrough Energy Ventures, Capricorn Investment Group, Congruent Ventures, CPP Investment Board, DCVC, Devon Energy Corporation, Echelon, Galvanize, CalSTRS, Impact Science Ventures, Liberty Mutual Strategic Ventures, Marunouchi Innovation Partners, Mercuria, Mitsubishi Heavy Industries, Sabanci Ventures, and Centaurus Capital. Fervo Energy is a provider of technology that leverages over a decade of innovation in drilling and production from the shale sector, leading to dramatic improvements in system performance and well design. The company combines advanced drilling techniques, fiber-optic sensing, and cloud-based analytics, unlocking a new class of geothermal resources. The company plans to use the December 2025 funding to expand Cape Station in Utah and develop additional geothermal projects across its pipeline. ## Funding rounds - Series E, Dec 4, 2025, $452M — Capricorn Investment Group, CPP Investment Board, Google Holdings, CalSTRS (Real Estate - 1 decimal PERFORMANCE ONLY), AllianceBernstein, DCVC, Devon Energy Corporation, Atacama Ventures, Mitsui & Co., Breakthrough Energy Ventures, B Capital, Liberty Mutual Strategic Ventures, Mitsubishi Heavy Industries, Congruent Ventures, Impact Science Ventures, Sabanci Ventures, Mercuria, Marunouchi Innovation Partners, Galvanize Climate Solutions, Carbon Equity, Echelon, Climate First, Centaurus Capital - Series D, Dec 13, 2024, $135M — California State Teachers' Retirement System, Capricorn Investment Group, CPP Investment Board, Devon Energy Corporation, Breakthrough Energy Ventures, Liberty Mutual Strategic Ventures, Congruent Ventures, Sabanci Ventures, Mercuria, Galvanize Climate Solutions, Dcvc - Series D, Mar 5, 2024, $25M — Capricorn Investment Group, Mercuria, DCVC, Mitsubishi Heavy Industries, Ltd., Devon Energy Corporation, Liberty Mutual Strategic Ventures, Congruent Ventures, Helmerich & Payne, Inc., Elemental Impact, Impact Science Ventures, Marunouchi Innovation Partners, Galvanize Climate Solutions - Series D, Feb 7, 2024, $138M — Capricorn Investment Group, DCVC, Devon Energy Corporation, Mercuria Investment, Liberty Mutual Strategic Ventures, Mitsubishi Heavy Industries, Congruent Ventures, Helmerich & Payne, Inc., Elemental Impact, DCVC Bio, Impact Science Ventures, Marunouchi Innovation Partners, Galvanize Climate Solutions - Series C, Aug 8, 2022, $138M — Capricorn Investment Group, CPP Investment Board, Macquarie Capital, Grantham Foundation, Prelude Ventures, DCVC, 503 Partners, Breakthrough Energy Ventures, Congruent Ventures, Helmerich & Payne, Inc., Elemental Impact, Liberty Oilfield Services LLC, Impact Science Ventures - Series B, Mar 18, 2021, $26M — Capricorn Investment Group, 503 Partners, Breakthrough Energy Ventures, Congruent Ventures, Helmerich & Payne, Inc., Elemental Impact - Series A, Jul 2, 2019, $11M — Congruent Ventures ## Investors - Congruent Ventures (https://capitalatlas.ai/funds/congruent-ventures) — Series A, Series B, Series C, Series D, Series E - Capricorn Investment Group (https://capitalatlas.ai/funds/capricorn-investment-group) — Series B, Series C, Series D, Series E - 503 Partners (https://capitalatlas.ai/funds/503-partners) — Series B, Series C - Breakthrough Energy Ventures (https://capitalatlas.ai/funds/breakthrough-energy-ventures) — Series B, Series C, Series D, Series E - Helmerich & Payne, Inc. — Series B, Series C, Series D - Elemental Impact (https://capitalatlas.ai/funds/elemental-impact) — Series B, Series C, Series D - CPP Investment Board — Series C, Series D, Series E - Macquarie Capital — Series C - Grantham Foundation — Series C - Prelude Ventures — Series C - DCVC (https://capitalatlas.ai/funds/dcvc) — Series C, Series D, Series E - Liberty Oilfield Services LLC — Series C - Impact Science Ventures (https://capitalatlas.ai/funds/impact-science-ventures) — Series C, Series D, Series E - Devon Energy Corporation — Series D, Series E - Mercuria Investment (https://capitalatlas.ai/funds/mercuria-investment) — Series D - Liberty Mutual Strategic Ventures (https://capitalatlas.ai/funds/liberty-mutual-strategic-ventures) — Series D, Series E - Mitsubishi Heavy Industries — Series D, Series E - DCVC Bio — Series D - Marunouchi Innovation Partners (https://capitalatlas.ai/funds/marunouchi-innovation-partners) — Series D, Series E - Galvanize Climate Solutions (https://capitalatlas.ai/funds/galvanize-climate-solutions) — Series D, Series E - Mercuria — Series D, Series E - Mitsubishi Heavy Industries, Ltd. — Series D - California State Teachers' Retirement System — Series D - Sabanci Ventures (https://capitalatlas.ai/funds/sabanci-ventures) — Series D, Series E - Google Holdings — Series E - CalSTRS (Real Estate - 1 decimal PERFORMANCE ONLY) — Series E - AllianceBernstein (https://capitalatlas.ai/funds/alliancebernstein) — Series E - Atacama Ventures (https://capitalatlas.ai/funds/atacama-ventures) — Series E - Mitsui & Co. — Series E - B Capital (https://capitalatlas.ai/funds/b-capital) — Series E - Carbon Equity (https://capitalatlas.ai/funds/carbon-equity) — Series E - Echelon (https://capitalatlas.ai/funds/echelon) — Series E - Climate First (https://capitalatlas.ai/funds/climate-first) — Series E - Centaurus Capital — Series E