Geothermal technology has enormous potential to power the planet and Fervo wants to tap it

But Latimer said the stability and predictability of geothermal power made the cost differential palatable for utilities and businesses that need the assurance of uninterruptible power supplies. As a current Houston resident, the issue is something that Latimer has an intimate experience with from this year’s winter freeze, which left him without power for five days.n

Indeed, geothermal’s ability to provide always-on clean power makes it an incredibly attractive option. In a recent Department of Energy study, geothermal could meet as much as 16% of the U.S. electricity demand, and other estimates put geothermal’s contribution at nearly 20% of a fully decarbonized grid.n

u201cWeu2019ve long been believers in geothermal energy but have waited until weu2019ve seen the right technology and team to drive innovation in the sector,u201d said Ion Yadigaroglu of Capricorn Investment Group, in a statement. u201cFervou2019s technology capabilities and the partnerships theyu2019ve created with leading research organizations make them the clear leader in the new wave of geothermal.u201dn

""

Fervo Energy drilling site. Image Credits: Fervo Energyn”,”protected”:false},”excerpt”:{“rendered”:”

Tapping the geothermal energy stored beneath the Earth’s surface as a way to generate renewable power is one of the new visions for the future that’s captured the attention of environmentalists and oil and gas engineers alike. That’s because it’s not only a way to generate power that doesn’t rely on greenhouse gas emitting hydrocarbons, […]n”,”protected”:false},”author”:59254947,”featured_media”:2118968,”comment_status”:”open”,”ping_status”:”closed”,”sticky”:false,”template”:””,”format”:”standard”,”meta”:{“outcome”:””,”status”:””,”crunchbase_tag”:0,”amp_status”:””,”relegenceEntities”:[],”relegenceSubjects”:[],”carmot_uuid”:”160afbbb-efea-3357-acec-a2efdd17187a”},”categories”:[1102388,576602979,20429,17396],”tags”:[2214,70627,449552022,576829965,576841777,449556860,576714502,7507383,58913,6601,1212,359155,12586,371887,576629990,228993,274,867237,13570,449549834,1125289,602846,449557042,84598,1575,449557049,449555799],”crunchbase_tag”:[],”tc_stories_tax”:[],”tc_ec_category”:[],”tc_event”:[],”jetpack_featured_media_url”:”https://techcrunch.com/wp-content/uploads/2021/03/GettyImages-129370200.jpg”,”shortlink”:”https://tcrn.ch/3nyMV10″,”rapidData”:{“pt”:””,”pct”:””},”premiumContent”:false,”premiumCutoffPercent”:1,”featured”:false,”subtitle”:””,”seoTitle”:””,”seoDescription”:””,”tc_cb_mapping”:[],”associatedEvent”:null,”event”:null,”authors”:[59254947],”hide_featured_image”:false,”_links”:{“self”:[{“href”:”https://techcrunch.com/wp-json/wp/v2/posts/2146082″}],”collection”:[{“href”:”https://techcrunch.com/wp-json/wp/v2/posts”}],”about”:[{“href”:”https://techcrunch.com/wp-json/wp/v2/types/post”}],”replies”:[{“embeddable”:true,”href”:”https://techcrunch.com/wp-json/wp/v2/comments?post=2146082″}],”version-history”:[{“count”:6,”href”:”https://techcrunch.com/wp-json/wp/v2/posts/2146082/revisions”}],”predecessor-version”:[{“id”:2146240,”href”:”https://techcrunch.com/wp-json/wp/v2/posts/2146082/revisions/2146240″}],”authors”:[{“embeddable”:true,”href”:”https://techcrunch.com/wp-json/tc/v1/users/59254947″}],”https://techcrunch.com/edit”:[{“href”:”https://techcrunch.com/wp-admin/post.php?post=2146082&action=edit”}],”author”:[{“embeddable”:true,”href”:”https://techcrunch.com/wp-json/tc/v1/users/59254947″}],”wp:featuredmedia”:[{“embeddable”:true,”href”:”https://techcrunch.com/wp-json/wp/v2/media/2118968″}],”wp:attachment”:[{“href”:”https://techcrunch.com/wp-json/wp/v2/media?parent=2146082″}],”wp:term”:[{“taxonomy”:”category”,”embeddable”:true,”href”:”https://techcrunch.com/wp-json/wp/v2/categories?post=2146082″},{“taxonomy”:”post_tag”,”embeddable”:true,”href”:”https://techcrunch.com/wp-json/wp/v2/tags?post=2146082″},{“taxonomy”:”_tc_cb_tag_taxonomy”,”embeddable”:true,”href”:”https://techcrunch.com/wp-json/wp/v2/crunchbase_tag?post=2146082″},{“taxonomy”:”tc_stories_tax”,”embeddable”:true,”href”:”https://techcrunch.com/wp-json/wp/v2/tc_stories_tax?post=2146082″},{“taxonomy”:”tc_ec_category”,”embeddable”:true,”href”:”https://techcrunch.com/wp-json/wp/v2/tc_ec_category?post=2146082″},{“taxonomy”:”tc_event”,”embeddable”:true,”href”:”https://techcrunch.com/wp-json/wp/v2/tc_event?post=2146082″}],”curies”:[{“name”:”wp”,”href”:”https://api.w.org/{rel}”,”templated”:true}]},”_embedded”:{“authors”:[{“id”:59254947,”name”:”Jonathan Shieber”,”url”:””,”description”:””,”link”:”https://techcrunch.com/author/jonathan-shieber/”,”slug”:”jonathan-shieber”,”avatar_urls”:{“24″:”https://secure.gravatar.com/avatar/a81fccb1686f7db1afd1c14a019b5bc1?s=24&d=identicon&r=g”,”48″:”https://secure.gravatar.com/avatar/a81fccb1686f7db1afd1c14a019b5bc1?s=48&d=identicon&r=g”,”96″:”https://secure.gravatar.com/avatar/a81fccb1686f7db1afd1c14a019b5bc1?s=96&d=identicon&r=g”},”links”:{“twitter”:”https://twitter.com/jshieber”,”linkedin”:”https://www.linkedin.com/pub/jonathan-shieber/0/baa/b27″,”crunchbase”:”https://www.crunchbase.com/person/jonathan-shieber”},”position”:”Writer”,”cbDescription”:”

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