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Fervo Energy (FRVO) Investor alert: Johnson Fistel begins investigation following recent Company disclosures. * 2 hrs ago SAN DIEGO, Aug. 12, 2026 (GLOBE NEWSWIRE) - Johnson Fistel, PLLP, a shareholder rights law firm, is investigating potential federal securities law claims on behalf of investors in Fervo Energy Company (NASDAQ: FRVO). The inquiry follows Fervo's August 12, 2026 disclosures concerning potential transmission curtailments affecting its Cape Station project, the Company's expected 2027 revenue, and remaining commissioning activities. Investors who purchased Fervo securities and suffered losses may contact the firm at no cost to discuss their legal rights. WHAT SHOULD FERVO INVESTORS DO? If you purchased Fervo securities pursuant or traceable to the Company's May 2026 initial public offering, or otherwise purchased Fervo securities and suffered losses on your investment, you are encouraged to contact Johnson Fistel to learn more about the investigation. There is no cost or obligation to you. WHY JOHNSON FISTEL IS INVESTIGATING FERVO ENERGY On August 12, 2026, Fervo reported its second-quarter financial and operational results and provided an update concerning the development and commissioning of Cape Station Phase I. During the Company's earnings call, Fervo provided a preliminary 2027 revenue outlook of between $60 million and $80 million, while emphasizing that the range did not constitute formal revenue guidance. Management explained that the breadth of the range reflected potential transmission curtailments affecting the lines connecting Cape Station with its customers, rather than Fervo's production, construction, or the operation of its GeoBlocks. Fervo Chief Executive Officer Tim Latimer stated that the Company had been monitoring the transmission issue for some time and believed that "now is the right time to begin talking about it." Latimer explained that the potential curtailment related to another asset being added to the transmission operator's network. Fervo said it believed the transmission circumstances were unique to 2027 and would not recur in subsequent years. Fervo also disclosed that additional work remained before GeoBlock 1 could achieve grid synchronization and before revenue anticipated by analysts for the fourth quarter of 2026 could materialize. Fervo said it continued to believe the analysts' estimate was achievable. The remaining activities included completion of substation work, hot commissioning, and coordination with grid counterparties. In light of these disclosures, Johnson Fistel is investigating whether Fervo Energy complied with federal securities laws, including whether the Company adequately disclosed material information concerning Cape Station's transmission availability, potential curtailment, commissioning requirements, and expected commercialization. ABOUT JOHNSON FISTEL, PLLP | SECURITIES FRAUD & INVESTOR RIGHTS Johnson Fistel, PLLP is a nationally recognized shareholder rights law firm with offices in California, New York, Georgia, Idaho, and Colorado. The firm represents individual and institutional investors in shareholder litigation involving securities fraud, breaches of fiduciary duties, and other violations of state and federal law. Johnson Fistel has been recognized as one of the Top 10 Plaintiff Law Firms by ISS Securities Class Action Services. In 2024, the firm recovered approximately $90,725,000 for investors. Attorney advertising. Past results do not guarantee future outcomes. Services may be performed by attorneys in any of its offices. This press release may be considered a promotional communication. The attorney responsible for this communication is Frank J. Johnson. Johnson Fistel, PLLP 501 W. Broadway, Suite 800 San Diego, CA 92101 James Baker, Investor Relations - or - Frank J. Johnson, Esq. (619) 814-4471

Modern data centres' surging energy demands are driving a boom in energy-sector initial public offerings, with several startups entering public markets this year. According to Gartner, data centre electricity consumption is projected to jump 26% in 2026, reaching 565 terawatt-hours. Three companies have recently gone public: Solv Energy, X-energy, and Fervo Energy. Solv Energy, which designs and constructs utility-scale solar and battery storage projects, generated $677 million in revenue and $119 million in gross profit in the first quarter. The company holds an order backlog exceeding $8 billion. Fervo Energy operates in geothermal energy, using horizontal drilling and hydraulic fracturing techniques to build enhanced geothermal systems.

Here's why bofa thinks Fervo Energy's pullback is a buying opportunity. Follow this Author Fervo Energy (FRVO) is a technology-enabled independent power producer. Founded in 2017 and based in Houston, Texas, the company develops, builds, and operates enhanced geothermal systems (EGS) using advanced horizontal drilling techniques originally developed in the oil and gas industry to unlock carbon-free baseload power from the earth's geothermal heat. Fervo's flagship Cape Station project in Utah, comprised of a 100 megawatt Phase I and a 400 MW Phase II expansion, anchors a 42 GW development pipeline backed by a 3 GW framework agreement with Alphabet (GOOGL) and $7.2 billion in contracted revenue through power purchase agreements. A landmark Nvidia (NVDA) partnership on the EGS-Twin digital twin platform further cements Fervo's position at the convergence of clean energy infrastructure and artificial intelligence (AI). Fervo stock lags post-ipo. FRVO stock trades near the $28 mark as of this writing, with a market capitalization of approximately $7.9 billion, well below the 52-week high of $42.65 and approaching the 52-week low of $22.50. The stock is back to trading near its May initial public offering (IPO) price of $27 despite raising total proceeds of $2.2 billion in the largest clean energy public offering in history. Shares are also down 23% over the past month. Fervo has underperformed post-IPO peers amid investor concern over near-term capital intensity, even as operational momentum at Cape Station accelerates. Fervo posts disappointing Q1 results. On June 22, Fervo Energy reported first-quarter 2026 revenue of just $61,000, its first-ever quarterly revenue, falling significantly short of the analyst consensus estimate of approximately $489,600. Meanwhile, loss per share of $3.72 badly missed the estimated $0.09 loss. The company reported a net loss of $31.8 million, compared to a loss of $9.1 million in Q1 2025, reflecting the investment-heavy pre-commercial phase of a utility-scale infrastructure buildout rather than a mature earnings profile. Operating loss expanded to $20.1 million from $9.9 million in the prior year, while capital expenditures reached $172.8 million in Q1 alone, primarily directed at Cape Station construction, with approximately $1.2 billion in additional capex expected through Q1 2027. The company held $280.8 million in cash and equivalents at quarter end, supplemented by $2.2 billion in gross IPO proceeds and $421.4 million in non-recourse project financing secured for Cape Station Phase I. Fervo also validated a premium geothermal resource at Blanford in Utah, with its hottest well on record at 555°F and 11,200 feet depth. Management reaffirmed that Cape Station Phase is on track for first power in Q4 2026, with GeoBlocks 2 and 3 targeting commercial operation in Q1 2027. Cape Station Phase II's 400 MW expansion began construction in Q1 2026, with commercial operation expected in 2028. Fervo receives 'Buy' rating from Bank of America. FRVO stock spiked on July 17 after Bank of America Global Research upgraded the geothermal energy developer to a "Buy" rating from "Neutral," arguing that a recent pullback has created a compelling entry point for long-term investors. BofA cited positive Sawtooth 7 drilling results as a key catalyst, noting strengthening confidence in Fervo's technical learning curve and operational execution strategy, two pillars that underpin the company's ambitious Cape Station buildout and broader development pipeline. The investment bank maintained its fundamental outlook on the company without altering to its probability-weighted valuation model, suggesting the upgrade was driven by price action rather than any deterioration in underlying business prospects. BofA noted that the current share price offers compelling upside relative to its target, suggesting that the recent post-IPO correction may have overshot the fundamentals of a company still on track to achieve first power at Cape Station in Q4 2026. Should you Buy FRVO stock? Bank of America's recent upgrade is a meaningful vote of confidence for FRVO stock, suggesting that the post-IPO pullback has created a genuine value window rather than a fundamental red flag. The sentiment echoes on Wall Street, with analysts giving the stock a consensus "Strong Buy" rating. Out of 13 analysts, 10 have a "Strong Buy," one has a "Moderate Buy" rating, and two analysts have a "Hold" rating, indicating a remarkably clean bullish tone. The mean price target of $45 implies compelling potential upside of 61% from current levels, making FRVO stock one of the most attractively priced clean energy infrastructure plays right now. On the date of publication, Ruchi Gupta did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here. More News from Barchart