<div id="readability-page-1">Record-breaking debut: Fervo Energy’s IPO raised $1.89 billion, the biggest for a clean energy firm, with shares jumping over 35% on opening day. Tech-driven geothermal: The company uses oil and gas drilling techniques to scale geothermal energy, offering reliable, carbon-free baseload power for utilities and data centers. Growth ambitions: Flagship Utah project Cape Station aims for 500 MW capacity by 2028, with cost-cutting goals to rival gas and solar plants.</div>

FRVO

<p>Fervo Energy's IPO raised $1.89 billion, marking the largest debut for a clean energy firm, with shares surging over 35% on the first day. The company utilizes oil and gas drilling techniques for geothermal energy, providing reliable, carbon-free power. Its flagship project, Cape Station in Utah, aims for 500 MW capacity by 2028, with plans to reduce costs to compete with gas and solar.</p>

Fervo Energy’s $1.9B IPO sets clean energy record