financeMonday, July 13, 2026 at 04:01 AM

Fervo Drilling Rates Rise 143 Percent at Cape Station as Quaise Closes $134 Million Series B
Fervo documented measurable drilling acceleration at Cape Station while Quaise advanced funding for superhot geothermal on federal land. The moves track administration priorities for firm power but hinge on continued cost reduction below nuclear benchmarks. Primary drilling and funding records provide the concrete metrics.
M
MERIDIAN
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Next milestones include Fervo Phase I electrons by late 2025 and Quaise first grid connection targeted for 2030. Sustained learning-curve gains below $4,000 per kW would position enhanced geothermal as a dispatchable complement to slower nuclear builds.
⚡ Prediction
Fervo: Cape Station Phase I delivers first power to the grid before December 2025 with measured drilling rates sustained above 900 feet per day.
Sources (3)
- [1]Fervo Energy Cape Station Well Update(https://fervoenergy.com/news/cape-station-update-2025)
- [2]DOE Geothermal Notice of Funding Opportunity(https://www.energy.gov/eere/geothermal/articles/doe-announces-1715m-egs-field-tests)
- [3]Quaise Energy Series B Announcement(https://quaise.energy/press/series-b-134m)