There are two kinds of “geothermal” energy. One is the ground source heat pump, that relies on constant temperatures a few feet below ground to warm and cool homes and businesses.
The other is when you use advanced drilling technology to go REALLY deep, where there is hot, hot rock, just about anywhere.
A leading geothermal energy startup just raised $138million to build and run afleet of power plants fueled by the Earth’s heat.
Fervo Energyannounced the new fundingon Monday. With the latest round, which was led by venture capital firmDCVC, the Houston-based startup has raised $177million in total investment since launching five yearsago.
Fervo aims to lower the cost of developing geothermal power by making it easier to tap heat deep within the Earth to make steam and produce clean electricity. The startup uses the same horizontal drilling techniques and fiber-optic sensing tools…
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