Fervo Energy
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Lead
Founded in 2017, Fervo Energy is an energy resource company primarily focused on harnessing heat through engineered geothermal systems (EGS). Co-founded by Tim Latimer, a mechanical engineer by background, Latimer worked as a drilling engineer at BHP until 2015[1]. His departure from the oil and gas sector was driven by a desire to apply techniques observed during the shale revolution[2] to geothermal extraction.[3]
To date, Fervo Energy has been back by over 189 million dollars in equity backed funding and approximately 17 million dollars in non dilutive grants[3]. In Q3 2022, Fervo Enegry received 22 million dollars of series C funding from a multitude of venture capitals.[3] In 2021, Fervo Energy partnered with Alphabet (formerly known as Google) in hopes that Fervo can provide green electricity to Alphabet's cooling centres in the Las Vegas cloud region which met the three demands of Alphabet[4]; baseload, green sourced and nearby.[5]
On July 18, 2023, Fervo Energy announced that their first pilot geothermal plant was successful in generating 3.5 MW (megawatts) of baseload power and consistently maintained flow rates of 60 liters per second (l/s).
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Petroleum industry applications
By 2005, American oil production had reached a 35-year low, with the United States producing just over 50% of what it had produced in 1976. This significant decline led to a reliance on foreign imports, perpetuating a constant feeling of hesitancy in American markets. However, two key technologies that had been present in the oil and gas industry for some time combined to propel the American oil industry to its fastest growth ever. These technologies are horizontal drilling and hydraulic fracturing (commonly known as fracking).[6] Put simply horizontal wells were drilled stacked one upon another and then fractures were induced to connect a multitude of horizontal wells. This allowed the surface area of the reservoir to grow improve permeability and thus achieving higher barrel production daily.[6]
EGS Application
According to Latimer, the first time this novel technolgy was first prosed to geothermal technolgy in 2013 as by dhhhhh who is now a technical consultant ot fervo energy.
maakdjdjd belived that the combination of horiozntal drilling and fracking utilzise in the petorleium sector has the potnetial to de risk enignnered geothermal system. In simpler terms, as long as you know there is sufficent mounts of heat, your ystem will produce viable eltical energy.
Engineered geotehrmal systems around the world struggled with few problesm short circuits, uncpmelte fracture network (plu method)
Utah Drilling demonstration
Nevada Scaling operation
Future outlook
References
- https://www.thinkgeoenergy.com/drilling-starts-for-first-commercial-eavor-loop-in-geretsried-germany
- https://calgaryherald.com/opinion/columnists/varcoe-calgary-company-eavor-prepares-to-welcome-german-chancellor-at-its-new-geothermal-project
- https://climate.ec.europa.eu/news-your-voice/news/eavorloop-story-harnessing-earths-energy-greener-transition-2023-11-06_en
- https://www.sciencedirect.com/science/article/abs/pii/S0960148120315081
- https://www.researchgate.net/publication/265127214_EGS_designs_with_horizontal_wells_multiple_stages_and_proppant
- https://fervoenergy.com/technology/#:~:text=By%20installing%20fiber%20optic%20cables,a%20resolution%20never%20before%20possible.
- https://pangea.stanford.edu/ERE/pdf/pereports/PhD/Abe2021.pdf?
- ^ Latimer, Tim. "Tim Latimer". Linkedin.
- ^ "The U.S. Shale Revolution". The Strauss Center. Retrieved 2024-02-16.
- ^ a b c "Technology - Fervo Energy". fervoenergy.com. 2022-08-09. Retrieved 2024-02-16.
- ^ "Fervo Energy Announces Technology Breakthrough in Next-Generation Geothermal - Fervo Energy". fervoenergy.com. 2023-07-18. Retrieved 2024-02-16.
- ^ "A first-of-its-kind geothermal project is now operational". Google. 2023-11-28. Retrieved 2024-02-16.
- ^ a b Rapier, Robert. "How The Shale Boom Turned The World Upside Down". Forbes. Retrieved 2024-02-16.