Vallourec Rallies on Geothermal Pact With Google-Backed Fervo

Vallourec SA shares hit a six-year high after the French firm said it will use steel tubes originally developed for oil and gas to support the US rollout of a lesser-known form of renewable energy.

The company this week announced a five-year supply deal with Houston-based Fervo Energy, whose technology mimics some fossil fuel fracking techniques to tap the Earth’s heat for energy. Vallourec said the deal could be worth $800 million.