Fervo geothermal drilling activity reportedly accelerates as Quaise raises $134M amid Trump administration energy push

Two next-generation geothermal developers reported measurable progress in recent updates, with one company reporting a sharp acceleration in drilling activity and another announcing a $134 million capital raise, according to Zero Hedge reporting published July 12, 2026.

Zero Hedge reported that Fervo Energy’s drilling rates “soar 143%,” describing the change as a shift from earlier stages into more measurable field activity. The outlet characterized the update as part of a broader push to expand geothermal generation that can provide steadier power than intermittent resources.

In the same report, Zero Hedge said Quaise Energy raised $134 million, framing the financing as capital formation that can support continuing development and drilling work. The outlet’s write-up emphasized that the companies’ updates move beyond announcements into concrete progress, based on what each company reported.

The geothermal developments were also presented in the context of the Trump administration’s broader energy policy agenda, including efforts tied to grid reliability and anticipated electricity demand growth, the report said. Zero Hedge described these efforts as being supported through funding vehicles and executive actions intended to speed domestic energy development.

Because the available record for this story is limited to the Zero Hedge report, Apex Times is not able to independently verify the underlying drilling-rate figures or the terms, sources, and intended use of the Quaise raise from an official company filing or regulator record within this packet.

In the absence of primary documents in the supplied materials, readers seeking additional confirmation would need to review the companies’ own disclosures, such as investor presentations, project updates, or filings, as well as any relevant state or federal permitting records tied to geothermal drilling operations and interconnection.

For now, the practical effect described by the reporting is straightforward: higher drilling activity can translate into faster movement from site preparation to production testing, while new capital can reduce financing bottlenecks for drilling, engineering, and equipment procurement.

If additional official documentation becomes available, future coverage can tighten the timeline by specifying the drilling locations, the measurement window for the reported 143% acceleration, the investors involved in the $134 million raise, and the stated milestones each company expects to pursue next.