Leading Global Power and Infrastructure Financial Institution MUFG Backs Fermi America™ with $500 Million Equipment Loan to Accelerate 11GW Private Energy Campus

Rhea-AI Summary

Fermi America (Nasdaq: FRMI) secured a $500 million non‑recourse equipment loan from MUFG on Feb 10, 2026 to fund acquisition of three Siemens Energy SGT6‑5000F gas turbines and support delivery of the first 2.3 GW toward an 11 GW private energy campus.

Proceeds will buy turbines, repay a pre‑existing loan, and fund construction and deployment; turbine deliveries begin as early as 1H 2026. The facility is structured to repeat for future gigawatt‑scale equipment purchases and to enhance readiness for project‑level financing.

Positive

• $500M non‑recourse turbine warehouse facility secured
• Acquisition of three Siemens SGT6‑5000F turbines validated
• Supports delivery of initial 2.3 GW toward an 11 GW campus
• Structure is repeatable to finance future gigawatt equipment purchases
• Turbine deliveries scheduled as early as 1H 2026

Negative

• Remaining buildout still requires future project‑level financing
• Portion of loan used to repay a pre‑existing loan, limiting incremental cash deployment

News Market Reaction – FRMI

+1.28% 1.5x vol

21 alerts

+1.28% Session close to close

+11.8% Peak in 17 hr 6 min

$5.81B Market Cap

1.5x Rel. Volume

In the Feb 11 session, FRMI gained 1.28%, reflecting a mild positive market reaction. Argus tracked a peak move of +11.8% during that session. Our momentum scanner triggered 21 alerts that day, indicating elevated trading interest and price volatility. Trading volume was above average at 1.5x the daily average, suggesting increased trading activity.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement details a $500 million non-recourse equipment loan from MUFG to fund Siemens gas t...

Analysis

This announcement details a $500 million non-recourse equipment loan from MUFG to fund Siemens gas turbines and related buildout for Fermi America’s planned 11 GW energy campus. It reinforces earlier milestones around turbine arrivals, power agreements, and cooling infrastructure, collectively supporting over 2 gigawatts of controlled capacity. Investors may focus on actual turbine delivery in 1H 2026, progress toward initial 2.3 GW output, and how future project-level financing advances the platform.

Key Figures

Equipment loan: $500 million Campus capacity: 11 gigawatts Initial power tranche: 2.3 gigawatts +5 more

8 metrics

Equipment loan $500 million Non-recourse turbine facility from MUFG Bank

Campus capacity 11 gigawatts Planned private energy campus scale

Initial power tranche 2.3 gigawatts First stage of long-duration reliable power

Turbine count 3 turbines Siemens Energy F-class gas turbines funded by loan

Execution window 150 days Time since Fermi America launch highlighted as rapid progress

Controlled capacity Over 2 gigawatts Total controlled generation capacity solidified by transaction

Delivery timing 1H 2026 Earliest turbine delivery window

Share price $8.69 Pre-news price, 76.51% below 52-week high

Historical Context

5 past events · Latest: Feb 09 (Positive)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Feb 09	Turbine arrivals	Positive	+8.6%	Arrival of six Siemens SGT-800 turbines for first gigawatt of capacity.
Dec 05	Power agreement	Positive	+3.4%	Electric Service Agreement securing up to 200 MW for Project Matador.
Dec 01	Cooling agreement	Positive	-0.2%	Hybrid cooling MOU to support 11 GW campus and protect water resources.
Nov 25	Financing talks	Positive	-2.5%	Company confirms discussions for $4+ billion in project financing for first tenant.
Nov 10	Shareholder letter	Neutral	+3.9%	Q3 2025 shareholder letter and webcast announcement on results and guidance.

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

Pattern Detected

Positive infrastructure and financing updates have often seen supportive or mixed price reactions, with both aligned moves and occasional sell-the-news divergences.

Recent Company History

Over recent months, Fermi America has released a series of execution-focused updates supporting its 11 GW Project Matador campus. Headlines include turbine arrivals for the first gigawatt, an electric service agreement for up to 200 MW, a water‑saving hybrid cooling MOU, and discussions for $4+ billion in project financing. Today’s $500 million equipment loan continues this pattern of capital formation and infrastructure milestones aimed at scaling reliable power and datacenter capacity.

Key Terms

non-recourse, project finance

2 terms

non-recourse financial

"Key Financing Highlights$500 million non-recourse turbine "warehouse" facility with MUFG"

A non-recourse loan is a type of debt where the lender’s recovery is limited to a specific asset pledged as collateral, and the borrower cannot be personally pursued for any remaining balance if the asset’s value falls short. For investors, non-recourse financing shifts downside risk onto the lender and protects a borrower’s other assets, which can affect a company’s risk profile, borrowing costs, and potential returns — much like insurance that covers only the item left as collateral.

project finance financial

"MUFG is the global project finance leader providing tailored solutions to clients"

Project finance is a way to fund a single, large undertaking — like a power plant or toll road — where lenders are repaid mainly from the project’s own future cash flows and the project is run through a separate company to keep its money and risks separate. For investors, this structure concentrates risk and reward around that specific asset, so returns and credit exposure depend more on the project’s success than on its sponsors, making careful assessment of cash flow forecasts and contracts crucial.

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

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• MUFG Boasts Deep Experience Supporting Large-Scale Energy Projects Worldwide
• Prepares Fermi America to Deliver on First 2.3GW of Power in Years Ahead

AMARILLO, Texas, Feb. 10, 2026 /PRNewswire/ -- Fermi Inc. (d/b/a Fermi America) (Nasdaq & LSE: FRMI), operating as Fermi America™, in partnership with the Texas Tech University System, announced today that it has secured a $500 million financing commitment from MUFG Bank, Ltd. (MUFG), one of the 10 largest global financial groups. MUFG's financing serves as a solid institutional backing of Fermi America's strategy and further strengthens the ability to deliver the first 2.3 of 11 gigawatts of long-duration, reliable power at scale.

MUFG is the global project finance leader providing tailored solutions to clients for power generation, digital infrastructure, transportation infrastructure, and natural resources. MUFG has extensive experience leading multi-billion-dollar project financing for large-scale power and data center developments.

Proceeds from the financing will be used to fund the acquisition of three Siemens Energy F-class gas turbines (previously announced), a proven industrial frame class asset widely deployed across large-scale, mission-critical power infrastructure globally. Fermi America also recognizes Siemens Energy for its partnership and support in securing these long-lead, high-demand gas generation assets, which are central to its near-term power delivery timeline. Fermi America will use remaining loan proceeds to repay a pre-existing loan and initiate the delivery, complete construction, and deployment of additional turbines within Fermi's fleet. The transaction strengthens near-term execution certainty and enhances Fermi America's positioning for future project-level financing as the platform scales.

The financing follows a rapid period of execution since Fermi America's launch. In just 150 days, Fermi America has advanced licensing, secured long-term site control, brought in top-tier construction partners, strengthened its capital base, and accelerated key infrastructure to support the delivery of clean, reliable power at scale.

Key Financing Highlights

• $500 million non-recourse turbine "warehouse" facility with MUFG
• Repeatable structure designed to support future gigawatt-scale equipment purchases prior to project financing
• Satisfies the acquisition of three Siemens Energy SGT6-5000F turbines
• Turbine deliveries beginning as early as 1H 2026
• Solidifies over 2 gigawatts of total controlled generation capacity

"This financing puts real muscle behind our strategy - securing long-lead equipment early, staying ahead of the market, and executing with certainty," said Toby Neugebauer, Chief Executive Officer and Co-Founder of Fermi America. "We're doing what most people said was unthinkable - and we're doing it at Fermi speed."

"MUFG has been an exceptional partner throughout this process," affirmed John Donovan, Executive Vice President of Capital Markets for Fermi America. "They recognized the importance of execution certainty and coordinated globally across multiple teams to deliver the financing on an accelerated timeline. The agreement reflects not only strong execution, but a deepening relationship that we look forward to expanding across the institution as we continue to scale our platform."

"MUFG is pleased to support the early stage of Fermi America's buildout with this equipment financing, marking an initial step toward what will become the largest power and AI datacenter campus," said Daniel Seltzer, Head of Infrastructure, Project Finance and Terry McKay, International Co-Head of Global Structured Solutions of MUFG. "We're impressed by what the Fermi team has achieved so far and by the pace at which they're moving. We look forward to continuing our collaboration in the years ahead."

For media inquiries:
Lexi Swearingen
Media@FermiAmerica.com

Fermi America™ official business information
Legal Entity: Fermi Inc. (d/b/a Fermi America) (Nasdaq & LSE: FRMI)
Brand Name: Fermi America™
Address: 620 S Taylor St #301 Amarillo, TX 79101-2436
Website: https://fermiamerica.com/

About Fermi America:

Fermi America™ (Nasdaq & LSE: FRMI) develops next-generation private electric grids that deliver highly redundant power at gigawatt scale to support next-generation intelligence and AI compute. Co-founded by former U.S. Energy Secretary Rick Perry, and Co-Founder and former Co-Managing Partner of Quantum Energy, Toby Neugebauer, 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

About the Texas Tech University System:   
Established in 1996, the Texas Tech University System is one of the top public university systems in the nation, consisting of five universities – Texas Tech University, Texas Tech University Health Sciences Center, Angelo State University, Texas Tech University Health Sciences Center El Paso and Midwestern State University. 

Headquartered in Lubbock, Texas, the TTU System is a more than $3 billion enterprise focused on advancing higher education, health care, research and outreach with approximately 21,000 employees and 64,000 students, more than 400,000 alums, a statewide economic impact of $19.2 billion and an endowment valued at $3 billion. In its short history, the TTU System has grown tremendously and is nationally acclaimed, operating at 20 academic locations in 16 cities (15 in Texas, 1 international).   

In addition, the TTU System is one of only nine in the nation to offer programs for undergraduate, medical, law, nursing, pharmacy, dental and veterinary education among other academic areas.

About MUFG and MUFG Americas:

Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the world's leading financial groups. Headquartered in Tokyo with over 360 years of history, MUFG has a global network with approximately 2,000 locations in more than 40 countries. The Group has about 150,000 employees and offers services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing. The Group aims to "be the world's most trusted financial group" through close collaboration among our operating companies and flexible response to all of the financial needs of our customers, serving society, and fostering shared and sustainable growth for a better world. MUFG's shares trade on the Tokyo, Nagoya, and New York stock exchanges. For more information, visit https://www.mufg.jp/english.

MUFG's Americas operations, including its offices in the U.S., Latin America, and Canada, are primarily organized under MUFG Bank, Ltd. and subsidiaries, and are focused on Global Corporate and Investment Banking, Japanese Corporate Banking, and Global Markets. MUFG is one of the largest internationally headquartered financial institutions in the Americas. For locations, banking capabilities and services, career opportunities, and more, visit www.mufgamericas.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/leading-global-power-and-infrastructure-financial-institution-mufg-backs-fermi-america-with-500-million-equipment-loan-to-accelerate-11gw-private-energy-campus-302684310.html

SOURCE Fermi America

FAQ

What did Fermi America (FRMI) announce with MUFG on February 10, 2026?

Fermi America announced a $500 million non‑recourse equipment loan from MUFG to acquire turbines. According to the company, proceeds fund three Siemens SGT6‑5000F turbines, repay a prior loan, and support near‑term construction and deployment toward 2.3 GW of capacity.

How does the MUFG financing affect FRMI's 11 GW private energy campus timeline?

The financing accelerates near‑term equipment procurement and deployment supporting initial capacity. According to the company, turbine deliveries begin as early as 1H 2026, improving execution certainty for the first 2.3 GW toward the 11 GW campus.

What equipment will FRMI buy with the $500 million MUFG loan and why does it matter?

FRMI will acquire three Siemens SGT6‑5000F gas turbines essential for large‑scale power delivery. According to the company, these long‑lead, proven industrial turbines are central to meeting near‑term power delivery and scaling future projects.

Does the MUFG facility fully fund Fermi America's entire 11 GW project (FRMI)?

No, the MUFG facility finances early equipment and execution certainty but not the full campus. According to the company, the loan is a repeatable warehouse structure intended to precede and enable future project‑level financing as the platform scales.

What are the immediate investor implications of FRMI's MUFG equipment loan?

The loan reduces near‑term execution risk by securing long‑lead equipment and delivery dates. According to the company, it also repays a pre‑existing loan and positions Fermi for future financing while advancing controlled generation above 2 GW.