Is geothermal finally ready to move from niche to mainstream?

Fervo Energy, a little-known geothermal company, is targeting up to a $6.5 billion valuation in a U.S. IPO — a sign that the industry that produces electricity from the Earth's heat may be turning a corner, at least in terms of investor confidence. POLITICO’s Christa Marshall breaks down what’s behind the company’s ambitious valuation, where Congress and the Trump administration stand, and whether geothermal is ready to help meet America’s growing energy demand. Nirmal Mulaikal is the co-host and executive producer of POLITICO Energy. KJ Cline is the video producer for POLITICO Energy. Matt Daily is the energy editor for POLITICO. Cyril Zaneski is executive editor of POLITICO’s E&E News. Debra Kahn is the editorial director for energy and environmental coverage at POLITICO. Veronica Tejera is the deputy head of Audio/Video at POLITICO. Our theme music is by Pran Bandi. Follow the show on Apple, Spotify, Youtube and Instagram. Follow POLITICO here: ➤ X: https://x.com/politico/ ➤ Instagram: / politico ➤ Facebook: / politico For more reporting on energy and the environment, subscribe to Power Switch, our free evening newsletter: https://www.politico.com/power-switch And for even deeper coverage and analysis, read our Morning Energy newsletter by subscribing to POLITICO Pro: https://subscriber.politicopro.com/newsletter-archive/morning-energy