Marunouchi Innovation Partners Co., Ltd. through Marunouchi Climate Tech Growth Fund L.P. (collectively “MIP”), has made a follow-on investment in Fervo Energy (“Fervo”), a Houston-based startup recognized as the leading innovator in next generation geothermal energy development. The US$462 Million oversubscribed fundraising round was led by new investor, B Capital, joined by additional new investors including Alliance Bernstein, Atacama Ventures, Carbon Equity, Climate First, and Google.

This investment will accelerate Fervo’s growth, supporting the continued buildout of Cape Station and early development of several other projects across its expanding pipeline. Cape Station will begin delivering 100 megawatts (MW) of firm clean power to the grid beginning in 2026, with an additional 400 MW online by 2028 for a total of 500 MW.

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Tim Latimer, Fervo Energy Co-Founder and CEO：
“Energy markets are demanding dependable, carbon-free power at an unprecedented scale, and Fervo is uniquely positioned to supply it. This funding sharpens our path from breakthrough technology to large-scale deployment at Cape Station and beyond. We’re building the clean, firm power fleet the next decade requires, and we’re doing it now.”

Ichiro Miyoshi, MIP CEO / CIO：
“We have been a proud supporter of Fervo since our initial investment in March 2024, and this funding round marks a significant milestone in the advancement of the next-generation geothermal energy and Fervo’s continued evolution. We are delighted to further contribute to the growth of Fervo, a pioneer in the next-generation geothermal energy industry, alongside its esteemed group of investors.”

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Please click below to find a press release by Fervo.
https://fervoenergy.com/fervo-energy-raises-462-million-series-e-to-accelerate-geothermal-development-and-meet-surging-energy-demand-with-clean-firm-power/