Fervo Energy ^{Filed, US Offering, Nasdaq: FRVO}

As the pioneer of enhanced geothermal systems (“EGS”), we are commercializing a new category of firm power that is scalable, rapidly deployable, readily available, and geographically flexible. By applying proven technologies like horizontal drilling and multi-stage hydraulic fracturing, we are transforming geothermal energy from a niche resource into a utility-scale power solution that is clean, reliable, cost-competitive, and suited to the needs of hyperscalers and utilities. Our EGS technology addresses the scalability limitations and key development risks of traditional geothermal energy. By designing and controlling subsurface flow pathways, we can predictably recover heat without relying on naturally occurring permeability. We deploy innovative subsurface monitoring technologies such as AI-enhanced fiber optic sensing that enable us to monitor and predict geothermal heat transfer at high spatial and temporal resolution. We believe these capabilities will enable us to standardize project development, optimize power facility placement and design, and capture economies of scale previously unavailable to the geothermal industry. We expect this innovative approach to position us to deliver predictable, cost-effective, and scalable geothermal power that follows learning curve cost declines, thereby providing the dependable energy needed to help close the nation’s capacity shortfall.