IPO window for climatetech may be opening: X‑energy and Fervo set the tone

Colleagues, a quick update from climatetech: X‑energy has gone public and Fervo has filed for an IPO.

X‑energy raised $1bn in an upsized offering — shares climbed about 25% in the first hour, indicating strong retail demand. Fervo filed for an IPO; PitchBook previously valued it at roughly $3bn. Investors note that public markets are beginning to favor nuclear and geothermal projects. Rising electricity demand (partly driven by data centres and AI) is reinforcing this trend.

Why it matters: IPOs provide liquidity to investors and enable scaling of large infrastructure solutions, though not all climatetech subsectors will benefit equally.

Do you think this will change venture fund strategies in the sector?

#climatetech #IPO #energy #investing