Geothermal power developer XGS Energy has hired Morgan Stanley to evaluate going public, Axios Pro has learned.
Company leadership could decide in the next month whether to try to ride the IPO momentum generated by Fervo Energy'sbig IPO.
Follow the money: XGS Energy, nearly 10 years older than Fervo, has raised about $52 million since 2008, per PitchBook. Its investors include Aligned Climate Capital, Anzu Partners, ClearSky, Climate Innovation Capital, Volo Earth Ventures and WovenEarth Ventures.
