Fervo Energy and Turboden Sign Framework Agreement for Organic Rankine Cycle (ORC) Equipment Supply

◆ Up to 35 Organic Rankine Cycle units to be supplied over the next three years

◆ Securing ORC equipment delivery schedules with a robust supply chain for Fervo Energy's next-generation geothermal project expansion

Turboden S.p.A., an Italian-based company within the Mitsubishi Heavy Industries (MHI) Group, has signed a three-year framework agreement*2 with Fervo Energy, which is expanding its next-generation geothermal projects in Utah, USA.*1

Under this agreement, Turboden will supply up to 35 Organic Rankine Cycle (ORC) units, totaling 1,750 MW, to Fervo Energy's next-generation geothermal projects, converting geothermal energy into carbon-free baseload power. Additionally, a robust supply chain will secure the delivery schedule for the ORC equipment, reducing project lead times and helping energy providers more efficiently meet growing electricity demands.

This agreement strengthens the cooperative relationship between Turboden and Fervo Energy. Following last year's contract to supply three ORC units for Phase II of Fervo Energy's "Cape Station" next-generation geothermal system project in Utah,*3 this multi-year collaboration positions Turboden as a trusted supplier, with Fervo Energy leveraging ORC technology as a core element of its projects. Both companies plan to continuously improve system performance by utilizing insights gained from the installed equipment.

Turboden is currently in the commissioning phase for the ORC equipment in Phase I of "Cape Station," with operations scheduled to begin later this year. This project is a significant milestone, being the first to become operational within a larger, strategic development plan.

As data center developers increasingly recognize geothermal energy as a promising baseload power source, Turboden and Fervo Energy are well-positioned to quickly respond to pressing power demands with the finalization of this agreement. Turboden's ORC equipment can convert heat into electricity without increasing fuel consumption, water usage, or CO2 emissions, making it applicable to various industrial processes that generate waste heat, including gas turbines. This also allows for increased generation capacity by retrofitting existing infrastructure.

As a global company pursuing the provision of extensive and high-efficiency power generation and energy systems, MHI will continue to work closely with Turboden to promote the energy transition on a global scale.

*1 MHI Group has invested in Fervo Energy. For details, please see the February 29, 2024 announcement, "MHI invests in U.S.-based Fervo Energy, developer of innovative geothermal systems."

https://www.mhi.com/news/24022902.html