In the December/January 2025 issue of Forbes Magazine, Tim Latimer emerges as a pivotal figure in the pursuit of sustainable energy. With dreams of harnessing limitless zero-carbon thermal energy from deep within the Earth, Latimer, the CEO and co-founder of Fervo Energy, has garnered over $400 million in funding to realize this vision. Drawing upon childhood memories of digging and a transformative experience witnessing the transition of energy industries in his home state of Texas, Latimer has set out to revolutionize geothermal energy by employing advanced fracking techniques traditionally used in the oil and gas sectors. His journey signifies a profound intersection of nostalgia, ambition, and the urgent need for sustainable energy solutions.
Fervo Energy aims to unlock geothermal energy from superhot rocks located approximately 8,000 feet underground, using fracking methods to create a network of boreholes that connect to these heat sources. With a drilling operation set to take place over the next three years in the Utah desert, the company plans to drill 80 wells using cutting-edge technology. Each well is a substantial undertaking, reaching up to 1.5 miles down and extending horizontally for nearly another mile, amid challenging conditions of solid granite and extreme heat. By utilizing high-pressure water mixed with sand, Fervo seeks to open up fractures in the rock, ultimately capturing steam to generate thermal energy.
Latimer’s ambitious project, dubbed Cape Station, received critical federal approvals in October, allowing Fervo to move forward with plans to produce 2,000 megawatts of geothermal energy by 2030—enough to power over 2 million homes. He believes that fracked geothermal energy will revolutionize clean energy in the same way that fracking transformed the oil and gas industries. However, initial costs remain a key consideration, albeit Latimer is optimistic about following the price trajectory of solar energy, which has seen dramatic decreases over the past decade. His goal is to ultimately achieve a cost of 4.5 cents per kilowatt hour, which would position Fervo’s geothermal energy as competitive with other renewable sources.
As Fervo progresses, it has already secured contracts for 435 megawatts of power with major companies, including Google and Southern California Edison, further underscoring the demand for stable, renewable energy sources. The strategic location in Milford, Utah—near existing wind farm infrastructure—also adds to the viability of the project. Geothermal energy presents the added benefit of stable, around-the-clock power generation, contrasting with solar and wind energy’s intermittency. However, the impending economic landscape is uncertain, particularly if changes to federal subsidies under a potential new administration occur, potentially jeopardizing the project’s financial feasibility.
Latimer’s perseverance in conquering technical obstacles has led to significant advancements in drilling efficiency, including reducing drill time from 70 to 21 days and cutting costs in half. This success is a direct result of his background in mechanical engineering and his hands-on experience in applying fracking technologies to geothermal energy. His partnership with Jack Norbeck, co-founder and Chief Technology Officer, and their participation in the Department of Energy’s Cyclotron Road program, facilitated access to essential resources and data, streamlining this innovative energy pursuit.
Fervo Energy is not alone in the geothermal sector, as other companies are exploring advanced technologies to tap geothermal resources. Nevertheless, regulatory, environmental, and technical challenges remain significant hurdles. As sustainable energy transitions continue to gain momentum, the effectiveness of geothermal energy, its capacity to mitigate emissions, and the stability it offers might ultimately shape the future of the energy landscape. Tim Latimer’s story embodies the relentless pursuit of innovation in the face of challenges, holding the promise of cleaner energy and a more sustainable future.
