North American completions expert Liberty Energy Inc. is looking for ways to expand its electric fleets and services as customers vie for environmentally friendly equipment, according to CEO Chris Wright.
The latest addition to the portfolio is a $10 million investment in Fervo Energy, a geothermal energy technology company that develops assets for dispatchable baseload grid power with low-carbon intensity.
“The investment in Fervo is a natural fit for Liberty in the rapidly evolving geothermal market,” Wright said. “Our technical expertise in underground reservoir fluid flow and network fractures should help improve project economics and the scalability of geothermal as an energy source. Unconventional geothermal applications offer a potential pragmatic solution for a reliable source of low-carbon electricity, and we’re excited to be a part of the journey.”