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State

Drawn / disbursed

Drawn money does not prove the project is fully funded.

Open question

Which money is proposed, conditional, closed or actually drawn, and for what?

  • Not established in reviewed sources: Any federal loan or loan guarantee for Cape Station (none confirmed in reviewed sources)
  • Not established in reviewed sources: Financing for Phase II, which Fervo says needs about $2.2 billion of capital spending
  • Not established in reviewed sources: How much of the Granite facility has been drawn since June 30, 2026
  1. Current stateDrawn / disbursed13 August 2026 · Company reported · Fervo Energy (SEC filing, Form 10-Q)

    Before: Not established in reviewed sources. Source: Fervo Energy (SEC filing, Form 10-Q) ↗

  2. Earlier statementClosed12 August 2026 · Company reported · Fervo Energy (SEC filing, Form 8-K exhibit)

    Before: Not established in reviewed sources. Source: Fervo Energy (SEC filing, Form 8-K exhibit) ↗

  3. Earlier statementClosed12 August 2026 · Company reported · Fervo Energy (SEC filing, Form 8-K exhibit)

    Before: Not established in reviewed sources. Source: Fervo Energy (SEC filing, Form 8-K exhibit) ↗

  4. Earlier statementClosed17 April 2026 · Company reported · Fervo Energy (SEC filing, Form S-1)

    Before: Not established in reviewed sources. Source: Fervo Energy (SEC filing, Form S-1) ↗

Evidence detail

Closed

Project Granite: non-recourse project debt for Cape Station Phase I (closed Q1 2026; proceeds repaid the earlier XRC loan)

A closed facility alone establishes no draw.

“using proceeds from the Project Granite Facility, the $421 million non-recourse project debt financing for the first phase of Cape Station that Fervo closed in Q1 2026, and the XRC Facility was terminated.”
Attribution
Company reported
Publisher
Fervo Energy (SEC filing, Form 8-K exhibit)
Dated
12 August 2026
First public disclosure
12 August 2026
State before
Not established in reviewed sources
Counterparty
Lender syndicate led by MUFG Bank (administrative agent) and HSBC Bank USA (collateral agent), per the 10-Q
Detail
Debt
Detail
About USD 421m
Source read
11 November 2026

Inspect primary source: Fervo Energy (SEC filing, Form 8-K exhibit) ↗

What this does and does not establish

An exact passage match shows the source says this. It does not prove the underlying claim is true.

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