Fervo Energy Co. (Ticker: FRVO US) is an American geothermal energy company developing enhanced geothermal systems (EGS) to generate electricity. The company uses horizontal drilling and hydraulic fracturing to access underground rock formations and circulate heat to produce geothermal power in locations without natural permeability.

Fervo plans to list on NASDAQ under the ticker FRVO. Following the upsizing, the company is offering 70.0 million primary shares at a price range of $25.00 to $26.00 per share. At the $25.50 midpoint, the IPO would raise approximately $1.785 billion in gross proceeds. The IPO consists entirely of primary shares, with proceeds going to the company. Reuters also reported that the upsized deal implies proceeds of up to approximately $1.82 billion at the top of the range. J.P. Morgan, Bank of America, Barclays and RBC are acting as bookrunners.