Marunouchi Innovation Partners has invested in Fervo Energy, a leader in next-generation geothermal technology, through its Marunouchi Climate Tech Growth Fund, aiming to support the development of sustainable and scalable energy solutions.

Information on the Target

Marunouchi Innovation Partners has made an investment through its Marunouchi Climate Tech Growth Fund L.P. (collectively referred to as "MIP") in Fervo Energy, a leading company in the development of next-generation geothermal power technology. Fervo Energy is pioneering Enhanced Geothermal Systems (EGS), which involves creating artificial reservoir layers in high-temperature underground rock formations. Water is injected into these layers through wells, extracting high-temperature hot water or steam for power generation. EGS alleviates geological constraints that traditionally limit geothermal energy sources, enabling scalable, cost-competitive, and emission-free power generation.

Previously considered commercially unviable, EGS has gained attention for its potential. Fervo has successfully developed commercial projects using innovative approaches, including a current drilling project for the 400 MW Cape Station in Utah, which follows successful undertakings in Nevada. The funding raised will be directed toward the Cape Station project, aiming to deliver clean base-load power to the grid by 2026. MIP participated in this funding round alongside Mitsubishi Heavy Industries and other investors.

Industry Overview in the Specific Country

The geothermal industry, particularly in the United States, is witnessing significant advancements and growing interest amid increasing needs for sustainable and uninterrupted clean energy. The U.S. geothermal power capacity continu