Analysis: Geothermal startup Fervo catapults itself over the ‘valley of death’

Fervo landed a large new loan with terms that strongly suggest the company's most turbulent days are behind it. Enhanced geothermal has had a promising few years, nudged forward by data centers’ insatiable demand for electricity. Fervo Energy has landed deals on those tailwinds, suggesting, but not guaranteeing that the company was through the “ valley of death .” The term describes when a startup has proven its tech, but hasn’t raised enough money to show it can work profitab…

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