The Cape Station geothermal project, located in Beaver County, Utah, is being developed by Fervo Energy as the world's largest enhanced geothermal systems (EGS) development. The 400MW facility will utilize advanced EGS technology that injects water into hot subsurface rock formations rather than depending on naturally occurring underground hot water like traditional geothermal systems.12 The project broke ground in September 2023, with the initial 90-100MW phase expected to begin power generation in 2026, followed by a second 300MW phase planned for completion by 2028.13

The project has already achieved record-breaking results during testing, with a 30-day test reaching a maximum flow rate of 107kg/s at temperatures exceeding 428 degrees Fahrenheit—potentially enabling over 10MW of generation and surpassing productivity levels that the National Renewable Energy Laboratory didn't expect until 2035.4 Cape Station's power is fully contracted, with major agreements in place with Southern California Edison and Clean Power Alliance.2 If fully developed, the project could eventually expand to 2 gigawatts of clean energy capacity, tapping into southwest Utah's estimated 10GW of high-quality geothermal reserves.25

Enhanced Geothermal Systems (EGS) technology creates artificial reservoirs in hot rock formations where natural permeability or fluid saturation is insufficient.12 Unlike conventional geothermal that requires specific geological conditions, EGS expands access by boring thousands of feet deep to reach rock layers between 300-400°F, then injecting fluid at high pressure to create networks of fractures.34 This process, known as hydroshearing, opens existing cracks in the rock, increasing permeability and allowing water to circulate through the fractured rock, absorb heat, and return to the surface as steam to generate electricity.45

EGS offers several key advantages as a clean energy solution:

• Provides baseload power with no intermittency, eliminating the need for energy storage2

• Produces minimal greenhouse gas emissions beyond possible water vapor for cooling2

• Features adjustable fluid systems that enable on-demand electricity generation, potentially replacing natural gas plants3

• Could more than double recoverable geothermal energy in the U.S., with potential for 100 GW of cost-competitive capacity within 50 years52

• Extends geothermal development beyond traditional western U.S. hydrothermal areas to nationwide implementation2

The $100 million investment from Breakthrough Energy Catalyst represents the largest portion of Fervo's $206 million financing package for Cape Station Phase I.12 This investment followed an intensive technical, financial, and environmental due diligence process, reinforcing enhanced geothermal systems (EGS) as a credible, investable pathway for reliable, zero-carbon power.13 Breakthrough Energy Catalyst, a program within Bill Gates' Breakthrough Energy network, focuses specifically on accelerating next-generation technologies from proof-of-concept to finance-ready infrastructure.12

Mario Fernandez, Head of Catalyst at Breakthrough Energy, emphasized that "Cape Station marks a major step forward in unlocking the infrastructure capital and project financing needed to commercialize EGS," noting that the project "sets the foundation for a model that can be repeated well beyond this site to provide affordable, reliable, and clean energy to the world."3 This investment signals growing confidence in Fervo's approach to geothermal energy as a viable solution for meeting the increasing demand for 24/7 carbon-free energy, particularly for power-hungry applications like AI data centers.45