• First GeoBlock reaches contractual commercial operation date (COD) and is generating revenue under the terms of Fervo’s Power Purchase Agreement (PPA)
  • First GeoBlock achieved 33 MW of net power production – meeting the expected production threshold under the PPA
     

HOUSTON, Oct. 01, 2026 (GLOBE NEWSWIRE) -- Fervo Energy (NASDAQ:FRVO), a global pioneer of next-generation geothermal energy, today announced that its first power plant at Cape Station in Beaver County, Utah, has reached commercial operation, making it the first greenfield enhanced geothermal development in the world to achieve contractual commercial operations. The landmark milestone marks a pivotal moment for Fervo and for the broader geothermal industry, demonstrating that enhanced geothermal systems (EGS) can deliver reliable, 24/7 carbon-free electricity at commercial scale on an industry-leading timeline.

Cape Station synchronized to the grid on September 24 and declared commercial operation just six days later on September 30, one day before its contractual COD. Revenue is now being generated under Fervo’s power purchase agreement.