A slow-journalism approach to European and global affairs.




  • Fervo Energy: Earth’s Heat and their Wall Street’s Bet

    Fervo Energy: Earth’s Heat and their Wall Street’s Bet

    Three weeks after its Nasdaq debut, Fervo Energy (FRVO) sits in an uncomfortable and fascinating place: a company that has genuinely revolutionised one of the oldest energy sources on earth, trading at a valuation that prices in a revolution that is still mostly on paper. That tension — between proven technology and unproven scale — defines the entire investment case.

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