Larry Kellerman, Fermi's Chief Power Officer and Architect of Its 17 GW Energy Infrastructure, Accepts Board Nomination
Fermi America (NASDAQ: FRMI) announced that Toby Neugebauer, co-founder and largest shareholder, nominated Larry Kellerman to join the company's board of directors on May 1, 2026.
Rhea-AI Summary
Fermi America (NASDAQ: FRMI) announced that Toby Neugebauer, co-founder and largest shareholder, nominated Larry Kellerman to join the company's board of directors on May 1, 2026. Kellerman is Chief Power Officer and led design of Fermi's 17-gigawatt powered data center campus in Amarillo, Texas.
Kellerman brings more than four decades of power-industry and finance experience, including roles at Goldman Sachs, El Paso Corporation, and I Squared Capital; he said he would serve if approved by the Board.
Positive
- Board nomination adds Larry Kellerman's >40 years of power and finance experience
- Kellerman is architect of Fermi's 17 GW Amarillo energy infrastructure
Negative
- Nomination was made by the company's largest shareholder, Toby Neugebauer
- Board seat pending formal approval by the existing Board
Details
News Market Reaction – FRMI
On May 4, the first trading day after this news, FRMI closed 1.93% below the previous close.
Data tracked by StockTitan Argus for the May 4 session.
Key Figures
- Energy infrastructure capacity
- 17 gigawatts
- Powered data center campus in Amarillo, Texas
Historical Context
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Appointment of Rob L. Masson II as Interim Chief Financial Officer.
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Business update citing positive feedback on Fermi 2.0 and Project Matador.
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Follow-up update emphasizing strong stakeholder response to Fermi 2.0 plans.
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Co-founder urges company sale while highlighting Project Matador progress.
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Fermi 2.0 launch with CEO exit, board refresh, and leadership restructuring.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
gigawatt technical
AI-generated analysis. How Rhea-AI works. Not financial advice.
Kellerman is co-founder and Managing Partner of Twenty First Century Utilities and brings more than four decades of power industry and finance expertise to the role. His career spans senior leadership positions at Goldman Sachs, El Paso Corporation, and I Squared Capital. Kellerman said he was honored by the nomination and would be pleased to serve if approved by the Board.
"I appreciate everything that Toby has manifested in Fermi and know that no other human could have created the enterprise and its many thoughtfully interconnected elements as quickly, as effectively, and in as value-accretive a manner as Toby's leadership has been able to deliver."
— Larry Kellerman, Chief Power Officer and Board Nominee, Fermi America
For Neugebauer, the choice was crystal clear. Kellerman, who has worked alongside Neugebauer since the earliest days of Project Matador knows Fermi's power story better than anyone.
"When I came up with the idea of Project Matador, I knew that Larry Kellerman was the one person I needed to convert a really great idea into a really great reality. His knowledge of power and the future of powering data centers is unmatched. Larry is uniquely qualified to steward Fermi as a Board member, and I couldn't be more pleased with his willingness to serve."
— Toby Neugebauer, Co-Founder, Fermi America
View original content:https://www.prnewswire.com/news-releases/larry-kellerman-fermis-chief-power-officer-and-architect-of-its-17-gw-energy-infrastructure-accepts-board-nomination-302760575.html
SOURCE Toby Neugebauer
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