FRVO Stock Rockets on Record Deal with Google for Carbon-Free Electricity
Fervo Energy (FRVO) stock surged pre-market after securing its largest-ever power agreement with Alphabet's Google. The deal is set to supply 396 megawatts of carbon-free electricity from Fervo's Cape Station project in southwestern Utah, expected to come online in 2028.
Google also secured an option to add roughly 600 MW by June 2030, potentially expanding the agreement to nearly 1 gigawatt (GW). This expansion would support a new Google data center in Utah, although the exact location has not been finalized.
The partnership between Fervo and Google began with a smaller project in Nevada in 2023. Fervo's CEO Tim Latimer said the company's commercial model enables it to meet customer needs by delivering clean, firm power directly to large electricity users.