Source: CNBC
Summary
Fervo Energy, a geothermal energy company, has secured a new loan with terms that indicate the company’s financial struggles may be easing. The loan’s terms suggest Fervo is no longer considered a high-risk investment. The company’s CEO, Tim Latimer, said the loan is a vote of confidence in Fervo’s technology and business model. Fervo has been working to develop new geothermal energy projects in the US.
Our Reading
The announcement sounds ambitious.
Fervo Energy gets a new loan, and suddenly its financial woes are forgotten. The terms of the loan imply that investors are no longer sweating bullets. The company’s CEO says it’s a vote of confidence, because what CEO wouldn’t? Fervo is still working on those new geothermal energy projects, because that’s what you do when you’re not worrying about bankruptcy. It’s a geothermal energy company, and it’s still trying to make geothermal energy a thing.
Author: Evan Null
