2025 marked a strong year of progress for Fervo Energy, momentum we're carrying into 2026 as we approach the anticipated start of commercial operations at Cape Station. Last year we moved decisively from demonstrating the potential of enhanced geothermal systems to scaling how fast and how far they can go. Across our developments, partnerships, and communities, the year was defined by execution, record-setting performance, and growing confidence that geothermal is ready to play a central role in delivering clean, firm energy at scale.
From drilling our deepest and hottest well to date to securing the capital, agreements, and policy momentum needed to accelerate geothermal growth, 2025 brought us materially closer to our goal: delivering reliable, zero-carbon power where and when the grid needs it most. Along the way, Fervo also set new performance benchmarks, expanded its development pipeline, and continued to help define what responsible, large-scale enhanced geothermal development looks like. Together, these milestones reflect not just a year of progress, but a clear signal that geothermal is ready to play a central role in the future energy system - and that Fervo is helping lead that transition.
