Geothermal startup Fervo Energy to raise up to $1.3B in IPO | TechCrunch

"Fervo's price target comes on the heels of X-energy's successful IPO. The nuclear power startup raised $1 billion in an upsized IPO, seeking a valuation of around $7 billion."

"Fervo says its Cape Station power plant - its first large-scale project - will generate electricity at $7,000 per kilowatt of installed capacity, aiming to reduce that to $3,000."

Fervo Energy plans to raise up to $1.3 billion in its initial public offering, targeting a valuation of $6.5 billion if shares sell at the top of its price range. This valuation is more than double what the company sought earlier this year. The stock will trade on Nasdaq under the ticker FRVO. Fervo's price target follows X-energy's successful IPO, which raised $1 billion. Both companies benefit from rising electricity demand driven by tech companies.

Read at TechCrunch