Fervo Energy selects Baker Hughes to supply geothermal tech for power plants

geothermal deal

Fervo Energy has tapped Baker Hughes to supply technology to five power plants at Cape Station, its flagship geothermal power generation project in Utah. Photo courtesy Fervo Energy.

Houston-based geothermal energy startup Fervo Energy has tapped Houston-based energy technology company Baker Hughes to supply geothermal equipment for five Fervo power plants in Utah.

The equipment will be installed at Fervo’s Cape Station geothermal power project near Milford, Utah. The project’s five second-phase, 60-megawatt plants will generate about 400 megawatts of clean energy for the grid.

Financial terms of the deal weren’t disclosed.

“Baker Hughes’ expertise and technology are ideal complements to the ongoing progress at Cape Station, which has been under construction and successfully meeting project milestones for almost two years,” says Tim Latimer, co-founder and CEO of Fervo. “Fervo designed Cape Station to be a flagship development that's scalable, repeatable, and a proof point that geothermal is ready to become a major source of reliable, carbon-free power in the U.S.”

Cape Station is permitted to deliver about two gigawatts of geothermal power. The first phase of the project will supply 100 megawatts of power to the grid beginning in 2026. The second phase is scheduled to come online by 2028.

“Geothermal power is one of several renewable energy sources expanding globally and proving to be a vital contributor to advancing sustainable energy development,” Baker Hughes Chairman and CEO Lorenzo Simonelli says. “By working with a leader like Fervo Energy and leveraging our comprehensive portfolio of technology solutions, we are supporting the scaling of lower-carbon power solutions that are integral to meet growing global energy demand.”

Founded in 2017, Fervo is now a unicorn, meaning its valuation as a private company has surpassed $1 billion. In March, Axios reported Fervo is targeting a $2 billion to $4 billion valuation in an IPO.

Over the course of eight years, Fervo has raised almost $1 billion in capital, including equity and debt financing. This summer, the company secured a $205.5 million round of capital.

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Baker Hughes has incorporated a new tech platform for its CCUS operations. Photo via Getty Images

Baker Hughes launches new digital platform for CCUS operations

now online

Baker Hughes has announced the debut of its digital platform to track CO2 volumes in real time, CarbonEdge. CarbonEdge utilizes carbon capture utilization and sequestration journey, which includes pipeline flows.

Powered by Cordant, the Houston-based Baker Hughes boasts CarbonEdge is “the first end-to-end, risk-based digital platform for CCUS operations that provides comprehensive support, regulatory reporting, and operational risk management,” according to the company.

The connectivity across the entire CCUS project lifecycle will assist customers to better improve decision-making, enhance operational efficiency, identify and manage risk, and simplify regulatory reporting. Applicable to any CCUS infrastructure applied across multiple industries, CarbonEdge joins other Baker Hughes’ digital solutions in JewelSuite, Leucipa, and Cordant, which all span the energy and industrial value chains to help ensure lower emissions.

“CCUS technology solutions are essential for driving decarbonization of the energy and industrial sectors on our path to solving for climate change,” Baker Hughes Chairman and CEO Lorenzo Simonelli says in a news release.

The launch customer will be Wabash Valley Resources (WVR), which is a low-carbon ammonia fertilizer pioneer in Indiana.WVR will deploy Baker Hughes’ CarbonEdge platform to monitor, measure, and verify volumes of CO2 transported, collected, and sequestered underground.

“With the launch of CarbonEdge, we not only expand our portfolio of digital solutions to support new energies and empower our customers’ ability to mitigate risk while enhancing operational efficiency, but also take a bold step toward a future with more sustainable energy development,” Simonelli continues.”We look forward to working alongside Wabash Valley Resources to refine and evolve CarbonEdge, ensuring it continues to meet the dynamic needs of a rapidly changing industry.”

Baker Hughes has officially moved into its new headquarters in Houston. Photo via bakerhughes.com

Baker Hughes unveils new HQ in Houston's Energy Corridor

moving in

Houston-based Baker Hughes officially opened the doors to its new headquarters in the Energy Corridor last week.

At a celebration held Oct. 23, the energy service company unveiled its new space within Energy Center II at 575 N. Dairy Ashford. The move represents a consolidation of Baker Hughes' various offices in the Houston-area as the company decreases its corporate footprint by about 346,000-square-feet, according to a report from the Houston Chronicle.

It is moving from its former headquarters in North Houston, near IAH. About 1,300 employees will work from the building, according to a statement from Baker Hughes.

“The opening of our new Houston headquarters is an important moment in our strategic transformation as we continue to take energy forward,” Lorenzo Simonelli, Baker Hughes chairman and CEO, said in a statement. “Collaboration will be key to solving for the energy transition. We look forward to collaborating with our colleagues, partners, customers and new neighbors in the Energy Corridor to solve the Energy Trilemma.”

Additionally, the company reported that the new space will aim to help the company reduce costs, cut emissions, create more flexible workspaces and strengthen relationships within the Energy Corridor.

The new HQ includes features such as

Tech- and food-free quiet zones
Hybrid experience rooms for enhanced online meetings
About 25 open collaboration spaces
About 40 meeting rooms, including hybrid meeting rooms and a creative thinking room
About 12 community spaces
Nursing mothers suites
Prayer and meditation rooms

In other HQ news, ExxonMobil officially changed its headquarters to Houston over the summer. A July 5 filing with the United States Securities and Exchange Commission showed a significant step toward the HQ move that Exxon originally announced in early 2022.

For the third time, the Baker Hughes Foundation has granted funding to One Tree Planted, totalling its impact to $1 million toward reforestation. Photo via onetreeplanted.org

Houston energy company triples down on funding to tree planting nonprofit with $1M total impact

reforestation station

Baker Hughes has doled out another grant for an organization that's growing a global impact.

The Baker Hughes Foundation announced its third grant to One Tree Planted, which is hoping to put 1 million new trees into the ecosystems of 17 countries. The foundation initially donated $250,000 to the organization in 2021 and followed up with a $350,000 grant in 2022. This most recent contribution, which was announced this week, did not disclose the monetary amount.

“This milestone speaks to our commitment to environmental sustainability, and I want to recognize the contributions of our employees, who last year came together across the world to plant trees in the areas where we work and live,” Baker Hughes Chairman and CEO Lorenzo Simonelli says in a news release. “I am grateful for their continued dedication to our sustainability goals and am inspired by what we and One Tree Planted can accomplish together.”

According to the company, Baker Hughes Foundation has contributed an impact of $1 million to One Tree Planted over the past three years. Its 2021 grant resulted in planting 268,000 trees, and in 2022, 350,000 trees were planted. With this latest grant, Baker Hughes adds 382,000 trees to that tally, targeting several areas where the company has a business presence, including the Andes region of South America; British Columbia, Canada; China; France; Germany; Scotland; and Texas, U.S.

“We all have a role to play in protecting the environment and combating climate change, and we admire the Baker Hughes Foundation’s continued dedication to being a force for good,” Matt Hill, founder of One Tree Planted, adds in the release. “With the Baker Hughes Foundation’s impressive commitment to giving back to the environment by planting 1 million trees to date, we are making a powerful impact for nature and communities in 17 countries around the world.”

Last month, the Baker Hughes Foundation doled out a $100,000 grant to the University of Houston Energy Transition Institute. The funding reportedly will work towards the ETI’s goals to support workforce development programs, and environmental justice research. The program addresses the impact of energy transition solutions in geographical areas most-affected by environmental impacts.

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Houston cleantech company closes $12M seed round

fresh funding

Houston-based Helix Earth Technologies has closed a $12 million Seed 2 funding round to scale manufacturing of its energy-efficient commercial HVAC add-on technology.

Veriten, a Houston-based energy investment firm, led the round. Rua Ventures, Carnrite Ventures, Skywriter LLC and Textbook Ventures also participated.

Helix Earth—which was founded based on NASA technology, spun out of Rice University and has been incubated at Greentown Labs—is developing high-efficiency retrofit dehumidification systems that aim to reduce the energy consumption of commercial HVAC units. The company reports that its technology can lead to "healthier indoor air, lower energy bills, reduced building maintenance, and more comfortable spaces for building owners and occupants."

"Building owners are dealing with rising energy costs, uncontrolled humidity, and aging infrastructure with no viable, cost-effective path forward. We are in the field today solving these problems for commercial customers, and this capital puts us on an aggressive path to scale,” Rawand Rasheed, Helix Earth co-founder and CEO, said in a news release.

“The strength of this round reinforces our team's conviction that we can transform innovation-starved sectors with transformational solutions that deliver order-of-magnitude improvements to owners and operators, for both their bottom line and the environment,” Rasheed added.

Maynard Holt, Veriten’s founder and CEO, said that the investment firm is tripling its investment in Helix Earth.

"The team has built breakthrough technology with real applicability across multiple industries,” Holt said in the release. “Their first product will have an immediate and measurable impact on our energy system, and they are already pursuing adjacent innovations to help heavy industries operate more efficiently and with less waste. This is a well-rounded team with a proven track record of strong execution and disciplined capital management.”

Helix Earth also closed a $5.6 million seed funding round in 2024, led by Veriten.

Last year, the company secured a $1.2 million Small Business Innovation Research (SBIR) Phase II grant and won in the Smart Cities, Transportation & Sustainability contest at the 2025 SXSW Pitch Showcase. Rasheed was also named to the Forbes 30 Under 30 Energy and Green Tech list for 2025.

SLB and NVIDIA expand partnership to scale AI across energy sector

AI partnership

Houston-based energy technology company SLB has expanded its 18-year tech collaboration with chipmaker NVIDIA to include the development of an “AI factory for energy.”

Through their partnership, SLB and NVIDIA will create AI infrastructure and models built around SLB’s existing digital platforms to help energy companies scale AI for data and operations.

In addition to the development of the “AI factory,” SLB will:

Provide modular design services to enhance NVIDIA’s blueprint for building, launching and operating gigawatt-scale AI data centers. In this case, modular design involves manufacturing data center components off-site.
Use NVIDIA’s AI infrastructure to improve the processing of large datasets and AI models across SLB’s digital platforms.

Energy companies generate vast amounts of operational data, which can slow down and silo decision-making, SLB says. By combining NVIDIA’s Omniverse libraries and its Nemotron open models with SLB’s digital and AI platforms, the companies aim to more rapidly transform data into actionable insights.

Omniverse libraries are sets of prebuilt 3D elements, such as objects, surfaces and interactive features, that make it easier to construct detailed virtual spaces without having to design everything manually. They’re commonly used for building immersive environments, digital replicas of real-world systems and simulation scenarios.

Nemotron open models are AI models that are freely available to download and modify. Instead of relying on a hosted service, you can run them on your own infrastructure and tailor them to fit specific needs.

Vladimir Troy, vice president of AI infrastructure at NVIDIA, says the energy sector is at the forefront of AI driving a “new industrial revolution.”

“The winners in AI will be companies with the best data, the deepest domain expertise, and the ability to scale,” Demos Pafitis, SLB’s chief technology officer, added. “By collaborating with NVIDIA to advance modular data center construction and harness our domain expertise and digital platforms, we’re enabling the energy industry to deploy AI at scale and transform operational data into smarter decisions.”

Houston poised for Texas-sized data center growth and more energy news

Trending Topics

Editor's note: The top energy transition news of the month looks at the future of data centers in Houston; a big step for Fervo; and what hotter, longer summers mean for Texans. Below are the five most-read EnergyCapital stories published March 16-30, 2026:

1. Houston data center capacity could more than double by 2028, CBRE report says

Houston's data center scene has received its latest bullish forecast. Photo via serverfarmllc.com

The Houston market could more than double its data center capacity by the end of 2028, a new report indicates. The report, published by commercial real estate services provider CBRE, says greater demand for data center capacity in the Houston area is being fueled by energy companies, along with large-scale cloud services and AI-driven tenants. In the second half of 2025, the Houston market had 154 megawatts of data center capacity, which was on par with capacity in the second half of 2024. Another 28.5 megawatts of capacity was under construction during that period. Continue reading.

2. Fervo secures $421M in financing for Cape Station construction

Fervo Energy has closed financing to support the remaining construction costs for the first phase of Cape Station. Photo via fervoenergy.com

Houston geothermal unicorn Fervo Energy has closed $421 million in non-recourse debt financing for the first phase of its flagship Cape Station project in Beaver County, Utah. Fervo believes Cape Station can meet the needs of surging power demand from data centers, domestic manufacturing and an energy market aiming to use clean and reliable power. According to the company, Cape Station will begin delivering its first power to the grid this year and is expected to reach approximately 100 megwatts of operating capacity by early 2027. Fervo added that it plans to scale to 500 megawatts. Continue reading.

3. Energy expert: What record heat and extended summers mean for Texans

Extreme weather in Texas is not only increasing but also becoming more hazardous for communities, infrastructure, and the economy. Photo by Jarosław Kwoczała on Unsplash

Earth’s third-warmest year on record occurred in 2025, reinforcing a decades-long pattern of rising global temperatures. This warming trend is increasingly reflected in regional weather patterns across the United States, particularly in Texas, where hotter summers, prolonged droughts, and heavier rainfall events are becoming more common. A 2024 report from Texas A&M University highlights how these shifts are already reshaping weather conditions across the Lone Star State. The assessment analyzes climate and weather data from 1900 through 2023 and projects likely trends through 2036. Continue reading.

4. TotalEnergies strikes $1B federal deal to exit offshore wind sector

TotalEnergies is canceling its U.S. offshore wind projects. Photo via totalenergies.com

TotalEnergies, a French company whose U.S. headquarters is in Houston, has agreed to redirect nearly $930 million in capital from two offshore wind leases on the East Coast to oil, natural gas and liquefied natural gas (LNG) production. In its agreement with the U.S. Department of the Interior, TotalEnergies has also promised not to develop new offshore wind projects in the U.S. “in light of national security concerns.” Continue reading.

5. 30+ CERAWeek events featuring Houston energy leaders

Heading to CERAWeek? Here's where to find Houston energy leaders on the Agora track. Photo courtesy of CERAWeek

CERAWeek returned to Houston March 23-27, bringing more than 1,000 speakers, executives and energy innovators to Houston.Here are some of the many events that featured Houston leaders on the Agora track. Continue reading.

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