Fervo Energy is trading at $18.57, up 13.58%, after securing approximately $20 million in U.S. Department of Energy awards for Enhanced Geothermal Systems projects in Idaho and Nevada.
- The awards support drilling, high-temperature technology testing and site appraisal, expanding Fervo’s geothermal development pipeline.
- The move contrasts with a weaker pre-market backdrop as major U.S. indexes trade lower and Treasury yields remain elevated.