Fervo Energy filed with the U.S. Securities and Exchange Commission on May 4 to pursue a U.S. initial public offering that could raise up to $1.33 billion. [1]
The Houston-based geothermal energy developer plans to sell 55.56 million shares at $21 to $24 each. [1]
At the top of that range, Fervo would be valued at $6.5 billion based on its outstanding shares. [1]
Fervo is seeking public market capital as power demand rises from data centers, which has increased interest in new electricity supplies. [1]
The company’s filing sets up the next step in the listing process, with pricing still to be set within the proposed range. [1]