In an article for E&E News, White & Case partner Nandan Nelivigi discusses recent momentum across geothermal energy. The piece focuses on Houston-based Fervo Energy, which is pursuing a US IPO targeting a valuation of up to US$6.5 billion. The article notes that Fervo has captured roughly half of all venture capital and private equity invested in geothermal startups since 2016. At the same time, the Department of Energy and US lawmakers are advancing supportive measures through a dedicated Hydrocarbons and Geothermal Energy office, targeted funding and permitting reforms, even though geothermal does not yet receive federal backing on the scale of nuclear.
Nelivigi maintains that, compared with new technologies in the space, such as small modular reactors, geothermal is closer to commercialization and that, over the next decade, the central challenge is likely to shift from technology risk to finding capital and executing projects, with Fervo's IPO potentially serving as a catalyst for greater institutional investor attention to the broader geothermal industry, potentially improving access to funding across the sector.
Read the full article here.
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