FERVO ENERGY COMPANY FRVO INVESTORS: Contact Kirby McInerney LLP About the Firm’s Securities Investigation Following 16.6% Share Drop

NEW YORK--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP reminds investors of its investigation on behalf of Fervo Energy Company (“Fervo” or the “Company”) (NASDAQ: FRVO) investors concerning the Company’s and/or members of its senior management’s possible violation of the federal securities laws or other unlawful business practices.

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What Happened?

On August 12, 2026, Fervo reported its second quarter 2026 financial results, predicting the Company’s 2027 revenue to be in the range of $60 million to $80 million, due to potential transmission curtailment events at the Company’s pilot plant, Cape Station in Utah. During the Company’s earnings call, CFO David Ulrey stated, “This is really due to curtailment on the transmission lines that we have going from the Cape site to our end customers. This is something that we've had our eye on for some time.” On this news, the price of Fervo shares declined by $4.01 per share, or approximately 16.6%, from $24.17 on August 11, 2026 to close at $20.16 on August 12, 2026.

On October 6, 2026, Morpheus Research published a report entitled, “Fervo Energy: Big Tech’s Clean Energy Bet is Unraveling – Hidden Setbacks, a Litany of Existential Issues & A Commercial Build Out Destined For Failure.” The report asserted that an investigation conducted by Morpheus Research “reveals that Fervo has failed to disclose existential issues related to inconsistent production temperatures and premature thermal decline, excessive water loss, seismicity-related equipment damage, transmission capacity, and ballooning costs,” particularly at Cape Station. The report states, “Fervo appears to have presented altered data and made material misstatements to investors, including in its IPO registration statement filed with the SEC… We believe Fervo’s presentation of the data conceals the devastating results of an apparent attempt to boost production at its underperforming pilot plant during its first year.” In May 2026, the Company completed its Initial Public Offering, raising $2.2 billion. After the publication of the Morpheus report, the price of Fervo shares declined by $0.36 per share, or approximately 2.5%, from $14.33 per share on October 6, 2026 to close at $13.97 on October 7, 2026.

What Should I Do?

At this stage, no lawsuit has been filed. The investigation is ongoing to determine whether claims may be brought under federal securities laws.

If you purchased or otherwise acquired Fervo securities, have information, or would like to learn more about this investigation, please contact Lauren Molinaro of Kirby McInerney LLP by email at [e-mail], or fill out the contact form below, to discuss your rights or interests with respect to these matters at no cost.

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Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found on Kirby McInerney LLP’s website.

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