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Geothermal unicorn Fervo Energy may IPO as early as next year
Driving the consideration is the growing concern over power demand growth from data centers, which could double by 2029.
Fervo has been making steady progress on commercializing its approach to geothermal power, which uses directional drilling techniques developed by oil and gas companies to tap resources over a wide area. Known as Project Red, it can supply up to 3.5 megawatts of electricity to the Nevada grid, helping to offset Google data centers’ power use in the state. Because Fervo and other advanced geothermal startups are similar in many ways to oil and gas companies, they’re thought to be a somewhat safer play during the current Trump administration.
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