Fermi Announces First Siemens Turbines Arrive at Port of Houston

Fermi (NASDAQ:FRMI)(LSE:FRMI) announced that three Siemens Energy SGT6-5000F natural gas turbines, totaling up to 780 MW in simple-cycle mode, have arrived at the Port of Houston for Project Matador, its advanced energy and AI campus near Amarillo, Texas.

Rhea-AI Summary

Fermi (NASDAQ:FRMI)(LSE:FRMI) announced that three Siemens Energy SGT6-5000F natural gas turbines, totaling up to 780 MW in simple-cycle mode, have arrived at the Port of Houston for Project Matador, its advanced energy and AI campus near Amarillo, Texas.

The shipment is described as one of the project’s largest single power-equipment moves and supports phase two of the power buildout, alongside six SGT-800 turbines in phase one. Fermi has secured or leased 7,570 acres in the Texas Panhandle and invested over $1.4 billion in site buildout. Subject to binding tenant agreements, Project Matador is expected to ramp to approximately 1.5 GW through 2027 as part of a planned multi-source private grid for AI and advanced computing.

Positive

• Three Siemens SGT6-5000F turbines delivered, up to 780 MW simple-cycle capacity
• $1.4 billion invested to date in Project Matador site buildout
• 7,570 acres secured or under long-term lease for the Texas Panhandle campus
• Project Matador expected to ramp to about 1.5 GW through 2027
• Use of SGT6-5000F turbines with ~99% global fleet reliability
• Partnerships with TSK and Primoris for early works and balance-of-plant

Negative

• Ramp to approximately 1.5 GW is subject to binding tenant agreements

Argus Jul 22 session 24 alerts

-1.05% close to close 0.9x rel. volume Open Argus

Details

News Market Reaction – FRMI

+10.0% Peak in 2 hr 53 min

$3.91B Market Cap

On Jul 22, the first trading day after this news, FRMI closed 1.05% below the previous close. Argus tracked a peak move of +10.0% during that session. Our momentum scanner recorded 24 alerts in the available session data.

Data tracked by StockTitan Argus for the Jul 22 session.

Market Context

FRMI's moderate short-interest signal adds a positioning reference to the turbine-arrival announceme...

Analysis

FRMI's moderate short-interest signal adds a positioning reference to the turbine-arrival announcement. The platform also records Net Selling by insiders; investors can watch subsequent construction milestones and tenant agreements.

Key Figures

Turbines Arrived: three turbines Simple-Cycle Capacity: up to 780 megawatts Phase-One Turbines: six SGT-800 turbines +5 more

Turbines Arrived

three turbines

Siemens Energy SGT6-5000F delivery

Simple-Cycle Capacity

up to 780 megawatts

combined rating of three turbines

Phase-One Turbines

six SGT-800 turbines

balance-of-plant work with Primoris

Ramp Rate

up to 40 megawatts per minute

SGT6-5000F turbine capability

Full-Speed Startup

as little as five minutes

SGT6-5000F turbine capability

Fleet Reliability

near 99%

global fleet reliability

Site Buildout Investment

more than $1.4 billion

invested to date in Project Matador site buildout

Planned Capacity

approximately 1.5 gigawatts through 2027

Project Matador ramp, subject to binding tenant agreements

Historical Context

5 past events · Latest: Jul 15

5 events

1. Jul 15

   Convertible notes offering

   24h Move

   -7.3%

   Upsized convertible notes offering and stated Project Matador funding rationale

2. Jul 13

   Governance dispute

   24h Move

   -4.3%

   Former CFO resignation context and reaffirmed confidence in securing tenants

3. Jul 09

   Convertible notes offering

   24h Move

   -10.0%

   Pricing of upsized convertible notes with capped-call protection

4. Jul 09

   Convertible notes offering

   24h Move

   -10.0%

   Proposed private convertible notes offering and additional-notes option

5. Jul 07

   Shareholder governance

   24h Move

   -10.1%

   Shareholders rejected former CEO's special meeting proposal

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

simple-cycle, combined-cycle, epc, balance of plant, +1 more

5 terms

simple-cycle technical

"Together, the three turbines are rated at up to 780 megawatts in simple-cycle mode."

A simple-cycle plant is a power-generation setup where fuel is burned to spin a turbine and make electricity in one direct step, without capturing and reusing the waste heat. Think of it like a car that throws away hot engine exhaust instead of using it to power an extra gearbox: it starts quickly and costs less to build but produces less electricity per unit of fuel and tends to be more expensive to run. Investors care because simple-cycle units offer fast, flexible capacity that can earn revenue in tight markets or for backup power, but they usually have lower long‑term margins and different regulatory and emissions profiles than more efficient designs.

combined-cycle technical

"natural gas project"

A combined-cycle power plant uses two linked systems—typically a gas turbine and a steam turbine—so waste heat from the first is captured to run the second, boosting overall electricity output from the same fuel. For investors, that higher efficiency means lower fuel costs per megawatt, smaller emissions per unit of power and generally better operating margins, but it also involves larger upfront construction costs and technical complexity.

epc technical

"TSK, Spain's largest power-focused EPC firm"

An EPC (engineering, procurement and construction) contract is a single agreement where a contractor designs a project, buys the materials and builds it, then hands over a finished, ready-to-use facility—much like hiring a general contractor to deliver a completed house. For investors, EPCs matter because they concentrate responsibility for cost, schedule and delivery with the contractor, affecting a company’s revenue visibility, cash needs and exposure to construction or performance risks.

balance of plant technical

"Primoris Services Corporation to build the balance of plant"

Balance of plant are the supporting parts of an energy project—things like wiring, pipes, transformers, control systems, roads and cooling equipment—that are not the main power-producing machines. For investors it matters because these components drive construction cost, schedule and ongoing reliability much like the foundation, plumbing and wiring matter for a house; problems or cost overruns here can delay projects or erode returns.

behind-the-meter technical

"The behind-the-meter Project Matador campus"

Equipment or systems located on a customer’s side of the electricity meter—such as rooftop solar panels, battery storage, electric vehicle chargers, or energy controls—that generate, store, or manage power for use on-site rather than being supplied through the utility’s grid. Investors care because behind-the-meter assets change how much power a customer buys, can create new revenue or savings streams, affect demand patterns, and shift regulatory or business models in the energy market, much like a homeowner installing their own water tank reduces municipal supply needs.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Arrival marks an important milestone in the development of Fermi's Project Matador

SGT6-5000F natural gas turbines will anchor what is expected to be the nation's largest combined-cycle natural gas project

DALLAS, TX / ACCESS Newswire / July 21, 2026 / Fermi Inc. (NASDAQ:FRMI)(LSE:FRMI), operating as Fermi America™ ("Fermi" or the "Company"), today announced the arrival of three Siemens Energy SGT6-5000F natural gas turbines at the Port of Houston. Together, the three turbines are rated at up to 780 megawatts in simple-cycle mode. They are bound for Fermi's Project Matador, an advanced energy and AI campus near Amarillo, Texas. This marks one of the project's largest single power-equipment moves, and it keeps Fermi well ahead of competitors in bringing gigawatt-scale power online.

The delivery is the latest in a fast run of milestones. Over the past couple of weeks, Fermi selected TSK, Spain's largest power-focused EPC firm, for early works on its phase-two turbines and brought in Primoris Services Corporation to build the balance of plant for six SGT-800 turbines in phase one. This rapid pace reflects the focus of Fermi's leadership team, as it discussed the Company's strategic plan to extend its speed-to-power advantage.

"This is FermiSpeed," said Jacobo Ortiz, Co-President of Fermi America. "We communicated a clear plan, and our teams are executing at pace. In the past month we lined up two world-class partners in TSK and Primoris. Now, three of the world's most capable natural gas turbines are on American soil and headed to the Texas Panhandle. They will form the backbone of the second phase of the power buildout, as we move iron at a pace hyperscalers need and grow our advantage in a highly competitive market."

Moving iron at FermiSpeed

FermiSpeed is Fermi's shorthand that describes how the Company is closing the gap between a plan and real, working hardware. Fermi buys long-lead equipment early and runs work in parallel. That way, critical iron is on site when crews need it. Today, two phases are moving at once. As mentioned above, Phase one is the six SGT-800 turbines, now heading into balance-of-plant work with Primoris. Phase two is the three SGT6-5000F turbines.

From Houston, the turbines will travel to the Project Matador campus near Amarillo. Site work there is already underway to receive them. More turbines are expected to follow as the Company scales toward its planned private grid.

"Getting the first turbine to Houston is a big logistics win," said Chad Ingersoll, Vice President of Construction at Fermi America. "It keeps our schedule in lockstep with the early works TSK is driving. Crews in the Panhandle are already prepping the site. Every week we gain between plan and hardware is a week closer to first power."

Why the SGT6-5000F

Each SGT6-5000F is rated at up to 260 megawatts in simple-cycle mode and can ramp at up to 40 megawatts per minute, reaching full speed in as little as five minutes. They are also among the most widely used heavy-duty natural gas turbines in the 60-hertz market, with a global fleet reliability near 99%. The turbines mix of high output, rapid startup, strong load-following capability, and low-emissions combustion is well suited to anchor the flexible, high-availability power supply that AI and advanced computing demand.

Project Matador

Fermi America is developing one of the world's largest advanced energy and AI campus sites, with 7,570 acres secured or under long-term lease in the Texas Panhandle and more than $1.4 billion invested in site buildout to date. Project Matador is engineered to solve the single biggest constraint in AI infrastructure - access to large-scale, reliable power on a timeline that meets customer demand. Subject to entering into binding tenant agreements, the project is expected to ramp to approximately 1.5 gigawatts through 2027, with capital deployment matched to commercial progress.

About Fermi America™

Fermi America™ (Nasdaq:FRMI)(LSE:FRMI) develops next-generation private electric grids that deliver highly redundant power at gigawatt scale to support next-generation intelligence and AI compute. Fermi America™ combines cutting-edge technology with a deep bench of proven world-class multi-disciplinary leaders with a combined 25 GW of experience, to create the world's largest, 11 GW next-gen private grid, helping ensure America's energy and AI dominance. The behind-the-meter Project Matador campus is expected to integrate the nation's biggest combined-cycle natural gas project, one of the largest clean, new nuclear power complexes in America, utility grid power, solar power, and battery energy storage, to support hyperscale AI and advanced computing. For additional information visit www.fermiamerica.com.

Contacts

Investors
Barry Sievert | IR@fermiamerica.com

Media

Fermi Inc. Communications | press@fermiamerica.com

Forward-Looking Statements

This press release contains "forward-looking statements" under the federal securities laws. These include statements about the delivery, transport, and installation of gas turbines. They also cover the expected timing, phasing, capacity, and configuration of Project Matador. They cover progress on the Company's 90-day plan and partnerships, and the Company's ability to bring power online. Such statements rest on current expectations and assumptions. Actual results could differ materially due to risks and uncertainties, including those in the Company's filings with the U.S. Securities and Exchange Commission. Forward-looking statements speak only as of today. The Company undertakes no obligation to update them except as required by law.

SOURCE: Fermi Inc.

View the original press release on ACCESS Newswire

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Fermi (FRMI) announce about Siemens turbines arriving in Houston on July 21, 2026?

Fermi announced that three Siemens SGT6-5000F natural gas turbines arrived at the Port of Houston. According to Fermi, these units provide up to 780 megawatts in simple-cycle mode and will anchor phase two of Project Matador’s power buildout near Amarillo, Texas.

How much power capacity will Fermi’s new Siemens SGT6-5000F turbines add at Project Matador?

The three Siemens SGT6-5000F turbines add up to 780 megawatts in simple-cycle mode. According to Fermi, each unit is rated at up to 260 megawatts and can ramp 40 megawatts per minute, supporting fast, flexible power for AI and advanced computing workloads.

What is Fermi’s Project Matador and how large is the FRMI campus in the Texas Panhandle?

Project Matador is an advanced energy and AI campus designed to provide large-scale reliable power. According to Fermi, the company has secured or leased 7,570 acres in the Texas Panhandle and invested more than $1.4 billion in site buildout to date.

When is Fermi (FRMI) expecting Project Matador to reach 1.5 gigawatts of capacity?

Fermi expects Project Matador to ramp to approximately 1.5 gigawatts through 2027. According to Fermi, this ramp-up remains subject to entering into binding tenant agreements, with capital deployment matched to commercial progress at the advanced energy and AI campus.

Why did Fermi choose Siemens SGT6-5000F turbines for Project Matador’s second phase?

Fermi selected SGT6-5000F turbines for their high output, fast ramping, and reliability. According to Fermi, each turbine can reach full speed in about five minutes and the global fleet has near 99% reliability, supporting flexible, high-availability power for AI compute.

What other contractors are involved with Fermi’s Project Matador alongside Siemens turbines?

Fermi has engaged TSK and Primoris Services Corporation for key project scopes. According to Fermi, TSK is driving early works on phase-two turbines, while Primoris is building the balance of plant for six SGT-800 turbines in phase one of Project Matador.

How does Fermi’s private grid strategy at Project Matador support AI and advanced computing?

Fermi plans a next-generation private grid integrating multiple power sources at Project Matador. According to Fermi, the campus is expected to combine a large combined-cycle natural gas project, new nuclear, utility grid power, solar, and battery storage to serve hyperscale AI demand.