Fervo Energy jumps after Google power deal

Fervo Energy

01/09/2026 13:32

Updates
** Shares of geothermal energy developer Fervo Energy FRVO.O rise 14% to $17.5 premarket
** The company signs a deal to sell 396 megawatts of electricity to Alphabet's GOOGL.O Google from its Cape Station project in Utah
** Google has the option to expand the agreement by about 600 megawatts by June 2030
** FRVO in March inked a 3-gigawatt non-binding framework agreement with Google for future projects
** It plans to begin supplying power to Google in 2028 from the Utah project
** As of last close, FRVO is down 43% from its May IPO price

(Reporting by Varun Sahay in Bengaluru)
((Varun.sahay@thomsonreuters.com))