This is the first time an energy company has shown that an EGS can work on a commercial scale, according to Bloomberg. It’s been a long road to reach this point, as scientists have been trying to make EGS a reality since the 1970s. […] Fervo says it’s the first company to “successfully drill a horizontal well pair for commercial geothermal production, achieving lateral lengths of 3,250 feet, reaching a temperature of 191C, and proving controlled flow through rigorous tracer testing.” The company is hoping to replicate its success at a site in Utah. If Fervo sees similar results there and it successfully implements design upgrades to maximize output, the site is expected to generate enough electricity to power 300,000 homes simultaneously, Latimer said. That’s around a quarter of all homes in Utah.
Anthropic Could Be Worth $2 Trillion When It Goes Public
Anthropic investors expect the AI startup to float at a valuation of $2 trillion or more in October, a dizzying figure that would eclipse SpaceX and make the AI lab’s debut the largest-ever initial public Read more…