---
title: "Fervo Energy’s $1.9B IPO sets clean energy record"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/286558576.md"
description: "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."
datetime: "2026-05-15T11:41:18.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/286558576.md)
  - [en](https://longbridge.com/en/news/286558576.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/286558576.md)
---

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

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.

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