Japanese giant Mitsubishi Heavy Industries (MHI) has invested in Fervo Energy, a Houston-based startup pioneering enhanced geothermal systems (EGS), in line with its strategy to increase its activities in green energy and its commitment to build a carbon-neutral world.
Capitalizing on advancements in geoscience and innovations from the oil and gas sector, Fervo Energy is developing the full potential of geothermal energy as a reliable and economical power source. Breakthroughs in horizontal drilling and distributed fiber optic sensing have allowed Fervo to transform untapped reservoirs of hot rock beneath the earth’s surface into valuable sources of energy.
Through its subsidiary Mitsubishi Heavy Industries America, Inc. (MHIA), MHI joins a consortium of investors, which include Devon Energy Corp. and Marunouchi Innovation Partners. This collaboration underscores MHI’s dedication to developing innovative solutions for decarbonizing existing infrastructure and building a sustainable energy ecosystem.
Geothermal energy holds immense promise for the future electric grid as it offers deployable power without the intermittency of solar and wind energy.
Fervo Energy’s advancements in drilling technology and subsurface analytics have also made geothermal energy cost-competitive and expanded geothermal resources through the exploration of normally inaccessible locations.
Through its investment in Fervo Energy, MHI wants to provide its customers with alternative green energy solutions and help ensure a sustainable future.
