Fluor Signs EPC Contract with TeraWulf for Large-Scale Data Center Campus in Kentucky

The contract makes Fluor responsible for cost overruns up to a percentage of its profit, with award recognition dependent on pricing finalization.

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IRVING, Texas--(BUSINESS WIRE)-- Fluor Corporation (NYSE: FLR) announced today that it has signed a definitive engineering, procurement and construction contract with TeraWulf for the development and construction of three data center buildings at the Justified Data Campus in Hawesville, Kentucky. Fluor expects to recognize the award in the fourth quarter upon finalization of pricing for the first two buildings. The contract is structured under which Fluor is responsible for cost overruns up to a percentage of its profit.

TeraWulf Justified Data Campus in Hawesville, Kentucky

“Fluor is proud to expand our partnership with TeraWulf and support the delivery of infrastructure needed to meet the rapidly growing demand for artificial intelligence and high-performance computing,” said Leo Kaid, President of Fluor’s Advanced Technologies & Life Sciences business line. “Our integrated engineering, procurement and construction capabilities, combined with our data center expertise and skilled workforce, position us to deliver this important project with a strong focus on safety, quality and schedule certainty.”

Fluor began supporting the project under a limited notice to proceed announced in March 2026.

Early works construction has already begun.

About Fluor Corporation

Fluor Corporation (NYSE: FLR) is building a better world by applying world-class expertise to solve its clients’ greatest challenges. Fluor’s nearly 23,000 employees provide professional and technical solutions that deliver safe, well-executed, capital-efficient projects to clients around the world. Fluor had revenue of $15.5 billion in 2025 and is ranked 257 among the Fortune 500 companies. With headquarters in Irving, Texas, Fluor has provided engineering, procurement, construction and maintenance services for more than a century. For more information, please visit www.fluor.com or follow Fluor on Facebook, Instagram, LinkedIn, X and YouTube.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20261104906064/en/

Brett Turner
Media Relations
864.281.6976

Jason Landkamer
Investor Relations
469.398.7222

Source: Fluor Corporation

Key Terms

epc contract technical

An EPC contract is a single agreement where one firm is hired to design, buy the materials for, and build a large project — often delivering it ready to operate. For investors it matters because these contracts usually fix the price and schedule and shift most construction and performance risk to the contractor, much like hiring a general contractor to build a house for a set price and completion date.

notice to proceed technical

A notice to proceed is a formal, written authorization in a contract that tells a contractor to start work and often triggers the project clock, budgets, and key obligations. For investors it matters because it signals that planned spending, revenue recognition, milestone payments and schedule risks are beginning—similar to a green light at a construction site that converts plans into real cash flows and measurable progress.