Climate tech IPO window opens with X-energy and Fervo deals
Original: The climate tech IPO window could finally be cracking open
Why This Matters
First major climate tech IPOs signal public market acceptance of energy infrastructure startups
Nuclear startup X-energy went public raising $1 billion with stock jumping 25% first hour, while geothermal company Fervo filed for IPO valued at $3 billion. Public markets warming to climate tech after years of tepid interest.
Climate tech companies are entering public markets after years of limited IPO activity. X-energy completed a $1 billion nuclear startup IPO this week, with shares surging 25% in the first trading hour, delivering windfalls to investors including Amazon. Geothermal startup Fervo Energy also filed for IPO, with private valuation around $3 billion according to PitchBook. Investors previously told TechCrunch that nuclear fission and enhanced geothermal companies had the best public market prospects. The AI boom's electricity demand surge has made energy startups more attractive to investors. These IPOs follow traditional routes rather than SPACs, suggesting broad investor confidence. The moves allow venture investors to return capital to limited partners after climate tech funding remained locked up during the recent IPO drought.