Hertz Global Holdings Inc. reported a larger-than-expected adjusted loss of 68 cents per share in the third quarter, exceeding analysts' estimates of a 46-cent deficit. The company took a $1 billion non-cash impairment charge, primarily due to declining fleet residual values, particularly from its Tesla electric vehicles.
Fervo Energy has made significant advancements in enhanced geothermal technology, tripling peak output per well in just one year through improved drilling techniques. Their cost estimates for energy production are now competitive with solar, wind, and fossil fuels, with a goal to reduce costs to $60-$70/MWh by 2030. The company projects a potential deployment of up to 1,000 GW of electricity capacity by 2050, highlighting the importance of diverse energy sources for grid reliability.
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