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Nuclear Startup X-energy Raises $1 Billion in Public Offering as Fervo Files for IPO
Nuclear energy startup X-energy went public this week, raising $1 billion in an upsized share offering with its stock rising 25% in the first hour of trading. Geothermal startup Fervo filed for an initial public offering, valued at around $3 billion by private investors. These moves align with investor expectations for energy-related climate tech firms entering public markets.
Apr 25, 12:33 PM·1m read1 source
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Nuclear startup X-energy went public this week, raising $1 billion in an upsized share offering. The company's stock increased 25% in its first hour of trading. Amazon is an investor in X-energy, TechCrunch reported.
Geothermal startup Fervo filed for an initial public offering this week. Private investors valued Fervo at around $3 billion, according to PitchBook. TechCrunch reported that the move aligns with investor statements from the end of last year, when they expected public markets to welcome energy-related startups.
Investors stated that startups specializing in nuclear fission or enhanced geothermal have the best chances of going public. Investors mentioned Fervo several times in relation to going public. TechCrunch noted that the AI craze has boosted demand for electricity, aiding companies betting on energy upswings.
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5 billion last year, according to Sightline Climate. Venture capital and growth funds raised the same amount in 2021 as last year, Sightline Climate data showed. TechCrunch reported that these figures reflect a K-shaped trajectory in climate tech funding, with infrastructure funds dominating.
TechCrunch stated that many new infrastructure funds specialize in renewables, grid technologies, and energy storage. The report highlighted that companies with mature technologies ready to build big stand to benefit from this fundraising success.
