Bill Gates-Backed Fervo Energy Joins Firms Profiting From Data Center Buildout
Fervo Energy announced a deal to supply nearly 400 megawatts of geothermal power to Google for a potential data center in Utah. The energy, sourced from Fervo's Cape Station project, is expected to be delivered starting in 2028, highlighting the increasing demand for clean energy in data center operations.
Fervo Energy, a geothermal power company backed by Bill Gates's Breakthrough Energy Ventures fund, has announced a significant deal to provide nearly 400 megawatts of power to Google for a potential data center in Utah. The energy supply is slated to begin in 2028 from Fervo's Cape Station project in Utah, utilizing advanced geothermal methods inspired by oil and gas fracking.
Fervo Energy's CEO and co-founder, Tim Latimer, emphasized the increasing demand for reliable, scalable, and round-the-clock electricity from customers like Google. This agreement underscores the growing trend of AI data center buildouts benefiting unexpected companies, such as generator manufacturer Generac and HVAC firm Comfort Systems, which are expanding their services to cater to the data center industry's needs for clean and readily available renewable energy.
The announcement led to a 28% boost in Fervo Energy's shares. This deal is part of a broader pattern of major tech companies seeking sustainable energy solutions for their expanding data center infrastructure.