Fervo Energy
Fervo Energy develops next-gen geothermal power, using horizontal drilling to provide 24/7 carbon-free energy from projects like Cape Station.
Secondary Market Price
Secondary Market Price
How Fervo Energy Measures Up
To help you manage your Fervo Energy equity, Prospect has run the company through our machine learning model.
Prospect Rating
2X
Our 2X rating for Fervo Energy indicates we project its value will be at least double what it is today in four years. For an employee with equity, this means your stock could be worth twice its current value upon a successful company exit.
Exit Risk
Moderate Risk
Our Moderate Risk rating for Fervo Energy is based on its ambitious 'moonshot' approach within a nascent market, which presents a moderate likelihood of the company not reaching a liquidity event for employees when compared to other startups.
Funding Stage
Series D
As a Series D company, Fervo Energy has moved beyond the early, uncertain stages of a startup. This means you can expect a more stable company that is focused on large-scale growth.
Secondary Market Price Chart
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Prospect Projected Future Fervo Energy Prices
Prospect’s machine learning model has been trained on the same data top-tier investors use to project the likely range of outcomes for Fervo Energy's equity. Create a free account to view 10th-90th percentile projections over 2, 4, and 6 years.
Powerful tools to earn more from your equity
Company Description
Fervo Energy is a geothermal energy company applying technologies from the oil and gas industry, such as horizontal drilling and distributed fiber optic sensing, to develop carbon-free power. The company develops, owns, and operates its geothermal assets, with a current focus on its first utility-scale project, the 400 MW Cape Station in Utah. Fervo Energy was founded in 2017 by Tim Latimer, a former drilling and completion engineer, and Jack Norbeck, a Stanford Ph.D. and petroleum research engineer. Since its inception, the company has focused on adapting these drilling techniques to make geothermal energy more scalable and cost-effective.
Fervo Energy aims to begin delivering electricity from its Cape Station project to the grid in 2026. The company has reported early progress at the site, with recent drilling operations reducing well costs to $4.8 million, a figure that exceeded initial expectations. Fervo’s development is supported by significant recent funding, including a $244 million round in late 2024 from investors including Devon Energy and Breakthrough Energy Ventures. The company has also gained industry recognition, such as being named to MIT Technology Review’s 2025 list of Climate Tech Companies to Watch.
- DCVC
- Breakthrough Energy
- Prelude Ventures
- CPP
- Capricorn
- Macquarie Group
- Co-Founder, CEO Tim Latimer
- Co-Founder, Jack Norbeck
Peer Group Comparison
Vs Peer Group of >$4B Startups
Frequently Asked Questions
Joining Anduril as an employee is another way to acquire equity, typically through stock options included in compensation packages.
Is Fervo Energy worth joining?
Fervo Energy is a well-funded company with a 'Moderate Risk' rating on the Prospect platform, backed by prominent investors and working on innovative geothermal projects. Platforms like Prospect can help you independently evaluate the company's potential and what your equity offer might be worth.
What should I do with my Fervo Energy stock?
Managing equity in a private company like Fervo Energy involves complex decisions around exercising options and tax planning. Specialized platforms like Prospect offer tools to help you create optimized strategies for your shares to potentially increase their post-tax value.
Can you sell Fervo Energy stock?
As Fervo Energy is a private company, its stock cannot be sold on public exchanges and is generally illiquid. Platforms like Prospect provide tools to help shareholders navigate infrequent selling opportunities, such as tender offers, in a tax-optimal way.
How can I find the value of my Fervo Energy stock?
The value of private stock is based on factors like the company's most recent 409A valuation, the price set in funding rounds, and any secondary market data. You can use a platform like Prospect to access independent projections on your equity's potential worth based on their proprietary models.
What is Fervo Energy's equity worth?
Following a recent $244 million fundraise, Fervo Energy's latest valuation is estimated to be between $1 billion and $3 billion. To understand what your personal equity stake could be worth under different scenarios, you can use the modeling tools on a platform like Prospect.
What is Fervo Energy's stock ticker symbol?
Fervo Energy is a privately held company and is not listed on a public stock exchange. Consequently, it does not have a stock ticker symbol.
Can I buy or sell Fervo Energy stock?
Because Fervo Energy is a private company, its stock is not available for trading on public markets like the NYSE or NASDAQ. While buying shares is typically restricted to accredited investors, existing shareholders can use tools from Prospect to prepare for selling opportunities like tender offers.
What is the criteria to buy or invest in Fervo Energy stock?
Direct financial investment in Fervo Energy is generally limited to accredited investors and institutions during official funding rounds. However, prospective employees can evaluate the company as a career investment by using platforms like Prospect to analyze the value of an equity offer.
