Fervo Energy's Cape Station Record and Scaling

Fervo completed Sawtooth 7 well in 21 days (70% faster), per-well cost down to $4.8M, targeting $3,000/kW by 2028. Signed 3 GW framework deal with Google (March 2026). IPO and project financing secured; Phase I commissioning underway. Induced seismicity remains a key risk; Fervo partnered with NVIDIA on a digital twin to model seismicity. A recent analysis discusses whether the industry can follow Fervo's trajectory, noting XGS's 150-MW Meta deal and potential IPO.