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Baker Hughes Selected by Fervo Energy to Deliver Geothermal Power Generation Equipment for Innovative New Power Plants

1. Baker Hughes awarded to supply key tech for geothermal power plants in Utah. 2. Investment includes equipment for five plants producing 300 MW of clean energy. 3. Project supports Baker Hughes’ focus on sustainable power solutions. 4. Full project approval for up to 2 GW renewable energy capacity achieved. 5. CEO emphasizes geothermal energy's role in the clean energy transition.

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Why Bullish?

This contract underscores Baker Hughes' active involvement in renewable energy, which may enhance investor confidence and demand. Historical investments in clean energy sectors have led to stock appreciation in similar companies, indicating potential positive price movements.

How important is it?

The awarded contract showcases Baker Hughes' leadership in renewable technologies, impacting not only current revenues but also positioning the company favorably for future contracts in the growing geothermal sector.

Why Long Term?

The long-term nature of the project and the involvement in geothermal energy suggests a sustained positive impact as the project's phases complete over years. Companies that commit to renewable projects often see gradual growth in investor perception over time.

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FervoSLBNOV
Baker Hughes to design and deliver key equipment for geothermal Organic Rankine Cycle (ORC) power plants at Fervo’s Cape Station Phase II project in UtahAward includes Baker Hughes turboexpander, BRUSH™ Power Generation generator and other related equipment HOUSTON and LONDON, Sept. 02, 2025 (GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ: BKR), an energy technology company, announced Tuesday an award from Fervo Energy Company, the leader in next-generation geothermal energy, to design and deliver equipment for five Organic Rankine Cycle (ORC) power plants at Fervo’s Cape Station power generation project near Milford, Utah, United States. Once operational, the five Cape Phase II ORC plants will generate approximately 300 megawatts of clean, reliable, and affordable power to the grid, equivalent power to approximately 180,000 homes. Baker Hughes’ equipment is designed to operate with Fervo’s cutting-edge Enhanced Geothermal Systems (EGS), resulting in a fully integrated power plant that drives scalability in sustainable baseload power generation. The award is for Fervo-exclusive surface power generation equipment leveraging Baker Hughes’ geothermal solutions portfolio, which spans subsurface and production technology through to power generation solutions. “Baker Hughes’ expertise and technology are ideal complements to the ongoing progress at Cape Station, which has been under construction and successfully meeting project milestones for almost two years,” said Tim Latimer, CEO and co-founder of Fervo Energy. “Fervo designed Cape Station to be a flagship development that's scalable, repeatable, and a proof point that geothermal is ready to become a major source of reliable, carbon-free power in the U.S.” Baker Hughes’ engineering and equipment scope for the project includes design and delivery of equipment for five 60-MWe ORC units, including the engineering, manufacturing, and supply of turboexpanders and the BRUSH™ Power Generation generator. The order, to be booked under the Industrial & Energy Technology segment of Baker Hughes, follows previous awards from Fervo Energy for subsurface drilling and production technologies from the company’s Oilfield Services & Equipment business. “Geothermal power is one of several renewable energy sources expanding globally and proving to be a vital contributor to advancing sustainable energy development,” said Baker Hughes Chairman and CEO Lorenzo Simonelli. “By working with a leader like Fervo Energy and leveraging our comprehensive portfolio of technology solutions, we are supporting the scaling of lower-carbon power solutions that are integral to meet growing global energy demand.” The Cape Station project includes Cape Station Phase I, which is poised to deliver 100 megawatts (MW) of baseload clean power to the grid beginning in 2026, as well as Cape Station Phase II, which will generate an additional 400 MW and come online by 2028. The full Cape Station development has received permitting approval for up to 2 GW of reliable and renewable energy. About Baker Hughes Baker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at bakerhughes.com.  For more information, please contact:  Media Relations Chiara Toniato +39 3463823419 chiara.toniato@bakerhughes.com Investor Relations Chase Mulvehill +1 346-297-2561 investor.relations@bakerhughes.com 

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