Fervo Energy Announces Launch Of Its Initial Public Offering

(MENAFN- GlobeNewsWire - Nasdaq) HOUSTON, May 04, 2026 (GLOBE NEWSWIRE) -- Fervo Energy (“Fervo” or the“Company”) today announced the launch of the Company's roadshow for its initial public offering (“IPO”) of 55,555,555 shares of its Class A common stock. The IPO price is expected to be between $21.00 to $24.00 per share. Additionally, Fervo expects to grant the underwriters a 30-day option to purchase up to an additional 8,333,333 shares of the Company's Class A common stock. Fervo has applied to list its Class A common stock on the Nasdaq, subject to official notice of issuance, under the ticker symbol“FRVO.”

J.P. Morgan, BofA Securities, RBC Capital Markets, and Barclays are acting as joint lead bookrunning managers for the proposed offering. Baird, BBVA, Guggenheim Securities, MUFG, Societe Generale, William Blair, Piper Sandler, and Wolfe | Nomura Alliance are acting as additional bookrunning managers for the proposed offering.

The proposed offering will be made only by means of a prospectus. Copies of the preliminary prospectus may be obtained from J.P. Morgan, Attention: c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by email at... and...; BofA Securities, Attention: Prospectus Department, NC1-022-02-25, 201 North Tryon Street, Charlotte, North Carolina 28255-0001, or by email at...; RBC Capital Markets, LLC, Attention: Equity Capital Markets, 200 Vesey Street, 8th Floor, New York, New York 10281, by telephone at (877) 822-4089, or by email at...; or Barclays, Attention: Syndicate Registration, 745 Seventh Avenue, New York, New York 10019, or by telephone at 1-888-603-5847, or by email at....

A registration statement relating to these securities has been filed with the SEC but has not yet been declared effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended.

About Fervo Energy

Fervo Energy delivers 24/7 carbon-free power through the large-scale deployment of enhanced geothermal systems. By combining the application of horizontal drilling, fiber-optic sensing, and advanced reservoir engineering with an innovative approach to power systems engineering, Fervo believes it has established a repeatable, industrial approach to building firm, utility-scale power. The company is driving geothermal toward scalable, reliable, and cost-competitive deployment, making it a foundational component of the global energy system.

Contacts

V2 Communications for Fervo Energy
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ICR, Inc.
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