31 FEBRUARY 2025 WorldWide Drilling Resource® Rapid Scale-Up of Enhanced Geothermal System Adapted from Information by Fervo Energy At Fervo Energy’s second annual Technology Day in Beaver County, Utah, they unveiled groundbreaking technical and commercial achievements, including drilling 15 wells at Cape Station, attaining record-breaking commercial flow rates at the first well test, and obtaining a $100 million construction loan from X-Caliber Rural Capital to accelerate their operations. Fervo’s Cape Station project has demonstrated its ability to generate utility-scale power and has solidified its position as the most productive enhanced geothermal system in history. With 400 megawatts of renewable power contracted and expected to be online by 2028, Fervo is poised to play a significant role in the transition to carbon-free energy. “Fervo continues to achieve technical milestones for geothermal development that experts predicted to be set decades from now,” said Tim Latimer, Fervo CEO and cofounder. “At a time when 24/7 clean energy is urgently needed, Fervo has shown that the geothermal industry is ready to meet that need with power projects that can come online this decade.” Fervo’s sustained drilling progress accompanied by record-breaking reservoir performance allowed for the Cape Station wellfield to be developed ahead of schedule earlier this year, while also achieving a 70% reduction in drilling times and pushing the limits of high-temperature drilling performance with reservoir temperature exceeding 428ºF (220ºC). The company has achieved significant milestones with the support of a robust gas and oil workforce, with fossil fuel workers accounting for over 90% of on-site labor hours at Cape Station to date. They aim to expand the workforce in this labor pool by partnering with local oilfield services companies and focusing on workforce development, as well as local hiring across Southwest Utah. “The accomplishments that Fervo is announcing today confirm that nextgeneration geothermal is on the cusp of commercial success,” said Jeff Marootian, Principal Deputy Assistant Secretary for the U.S. Department of Energy’s Office of Energy Efficiency and Renewable Energy. “It’s this type of literal groundbreaking achievement that is paving the way to expand geothermal energy and realize its crucial role in our clean energy future.” GEO
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