Fervo Energy key facts
as of Sep 2026- Operator of a geothermal power developer company intended to leverage innovation in geoscience to accelerate the clean energy transition.
- Fervo Energy is valued at approximately $20.2B (~$37/share) as of Sep 2026, per PrivateMarketView’s composite mark.
- It has raised $2.0B across 11 recorded rounds; the latest was IPO in Jan 2026.
- Notable investors include U.S. Department of Energy, Greentown Labs, DCVC, Breakthrough Energy, B Capital Group — 51 tracked in total.
- 4 institutional filers report fund marks on Fervo Energy across 9 filings.
- Fervo Energy has filed 6 Form Ds with the SEC since 2021, most recently Dec 2025 ($452.0M sold to 39 investors).
- Status: Publicly Held.
Membership and data by Private Market View
- ·Post-money valuations for 3 rounds
- ·The complete investor list: 51 names
- ·Watch Fervo Energy: the Monday email on marks, rounds and moves
Institutional fund marks on Fervo Energy
4 filers · latest Jul 20264 SEC-registered funds reported 9 fair-value marks on Fervo Energy between May 2026 and Jul 2026. Filer-level marks and implied $/share are available to Pro members.
Membership and data by Private Market View
Fervo Energy funding rounds
11 roundsFervo Energy leadership
- Timothy LatimerCo-Founder, Chief Executive Officer, President & Board Member
- David UlreyChief Financial Officer & Board Member
- Jack Norbeck Ph.DCo-Founder, Chief Technology Officer & Board Member
- Cybil VargheseDirector, Supply Chain
Who backs Fervo Energy
51+Fervo Energy valuation
Fervo Energy is now publicly traded; this page covers its private-market history, where its last recorded valuation was $2.9 billion (Dec 2025). Secondary trades, fund marks and rounds below are the private-market record; the listed share price is not tracked here.
Recent activity
In the last 90 days, Fervo Energy's record added 4 institutional fund marks (latest period Jul 2026).
How much has Fervo Energy raised?
Fervo Energy has raised $2 billion across 11 recorded rounds since 2021. The largest was a $499 million Series D in Dec 2024; the most recent was an IPO in Jan 2026. 3 of the rounds disclosed a post-money valuation.
Fervo Energy has filed 6 Form Ds with the SEC since 2021, most recently in Dec 2025 ($452 million sold to 39 investors).
Institutional holders and vehicles
4 SEC-registered funds reported 9 fair-value marks on Fervo Energy between May 2026 and Jul 2026, in their N-PORT filings. Filer-level marks and implied per-share values are available to Pro members.
Fervo Energy investors
51 investors are on record for Fervo Energy, including U.S. Department of Energy, Greentown Labs, DCVC and Breakthrough Energy. By type, the record holds 6 venture capital firms and 2 private investors. The Series E in Dec 2025 drew 25 investors.
Who runs Fervo Energy
13 people are listed on the Fervo Energy team: 5 executives and 8 board members, including Jack Norbeck Ph.D (Co-Founder) and Timothy Latimer (Co-Founder). 12 of them have a verified direct contact on file.
About Fervo Energy
Operator of a geothermal power developer company intended to leverage innovation in geoscience to accelerate the clean energy transition. The company offers carbon-free energy through the development of next-generation geothermal power and plays a major role in the future electric grid, enabling clients to increase their productivity and make energy scalable.
- Sector
- Energy
- HQ
- Houston, TX, United States
- Founded
- 2017
- Employees
- 199
- Website
- fervoenergy.com/
- Ownership
- Publicly Held
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