Fervo Gets Two US Energy Department Grants Totaling $20 Million for Geothermal Projects in Idaho, Nevada

10:12 AM EDT, 09/22/2026 (MT Newswires) -- Fervo Energy (FRVO) said Tuesday it has won two US Department of Energy awards totaling about $20 million to support the development of geothermal projects in Idaho and Nevada. The company said that in Idaho, it will use the funding for drilling and completing Enhanced Geothermal Systems wells in Elmore County in partnership with national labs. In Nevada, the grant will back a targeted appraisal campaign at an Enhanced Geothermal Systems prospect in Humboldt County to confirm the reservoir is suitable for development, the company said. Price: 16.77, Change: -0.06, Percent Change: -0.39