Fervo Energy, the leader in next-generation geothermal power, today (Feb 23) announced that it will design and engineer a fully integrated geothermal and direct air capture (DAC) facility, with support from the Chan Zuckerberg Initiative (CZI).
According to the Intergovernmental Panel on Climate Change, limiting warming to 1.5 degrees C will require the net removal of 100-1000 gigatons of carbon dioxide by 2100, creating significant demand for carbon removal solutions, including DAC solutions and associated clean, reliable power.
In a DAC facility, large fans move air over materials that capture carbon dioxide. The captured carbon dioxide is heated, concentrated, and then, in many instances, pumped underground. To operate economically and sustainably, DAC requires a reliable source of carbon-free electricity and heat. Fervo's designs for a combined geothermal and direct air capture facility can provide an innovative solution to these challenges that will lower the cost of carbon removal.
"Geothermal can deliver the carbon-free power and heat needed to make DAC a viable means for removing carbon dioxide from the atmosphere," said Tim Latimer, CEO of Fervo. "With robust expertise in geosciences and new support from the Chan Zuckerberg Initiative, Fervo is well positioned to drive innovation in carbon removal and demonstrate the natural alignment between geothermal and DAC."
In pioneering next-generation geothermal technology, Fervo has adapted existing innovations, such as horizontal drilling and distributed fiber optic sensing, to combat climate change by turning reservoirs of hot rock beneath the earth's surface into economically viable sources of clean energy. The new funding helps Fervo leverage geothermal resources to provide 24/7 carbon-free power and heat to DAC systems and explore geothermal reservoirs' potential for local subsurface carbon sequestration.
This funding builds on CZI's support for organizations that are advancing promising climate change solutions, including carbon dioxide removal. "Carbon removal technologies are a critical tool for addressing climate change," said CZI Vice President of Strategic Initiatives Caitlyn Fox. "In order to scale carbon removal, costs need to come down dramatically. Fervo's unique integration of next-generation geothermal technology with direct air capture creates exciting opportunities to develop rigorous carbon removal at a lower cost while providing a reliable, abundant, carbon-free source of power and heat."
Fervo has established a Technical Advisory Board of leading experts in carbon removal, including Dr. Vikram Rao, Technical Reviewer for the Stripe Frontier Climate Initiative and former CTO of Halliburton, and Doug Hollett, former Principal Deputy Assistant Secretary of Fossil Energy.
About Fervo Energy
Fervo Energy provides 24/7 carbon-free energy through development of next-generation geothermal power. Fervo's mission is to leverage innovation in geoscience to accelerate the world's transition to sustainable energy. Geothermal has a major role to play in the future electric grid, and Fervo's key advancements in drilling and subsurface analytics bring a full suite of modern technology to make geothermal cost competitive. For more information, please visit www.fervoenergy.com.
About Chan Zuckerberg Initiative
The Chan Zuckerberg Initiative was founded in 2015 to help solve some of society's toughest challenges from eradicating disease and improving education, to addressing the needs of our communities. Through collaboration, providing resources and building technology, our mission is to help build a more inclusive, just and healthy future for everyone. For more information, please visit chanzuckerberg.com.
Contacts
Fervo Energy
Sarah Jewett
VP of Strategy
sarah@fervoenergy.com
Chan Zuckerberg Initiative
Leah Duran
Director of Communications for Science
lduran@chanzuckerberg.com
