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Fervo Energy's Cape Station project in Milford, Utah, is on pace to send power to the grid next month. This would make it the first enhanced geothermal system in the U.S. to reach commercial operation.

Fervo Energy CEO Tim Latimer joins CNBC's Pippa Stevens from their Cape Station site to discuss the company's big bet on enhanced geothermal energy, their new 400 MW deal with Google, their ambitious plans to bring down high upfront costs, and much more.

Think back to the summer of 2023, back when nuclear and uranium stocks were dead money. Back then, everyone kept asking if Big Tech would actually choose nuclear to power its data centers.

Fervo Energy secures a landmark 396 MW PPA with Google, validating enhanced geothermal as a viable baseload for hyperscaler data centers. FRVO's relationship with Google spans equity, pilot projects, and now a large commercial contract, signaling deep strategic alignment and de-risking early-stage execution. Transmission curtailment remains the key near-term constraint, with 2027 revenue guidance of $60–$80M well below prior expectations despite robust capital resources.

Google's data centers devour electricity. Fervo wants to help supply the AI giant with the energy it craves.

Today, Sept. 1, 2026, the geothermal developer signed a landmark commercial agreement that validates firm power demand and clears a path to Cape Station revenue.

Fervo will supply nearly 400 MW to Alphabet's Google to power a data center. The deal significantly expands Fervo's contracted capacity and makes Google a key customer.