Fermi Inc., operating as Fermi America, develops private electric grids and site infrastructure for AI compute and high-performance computing customers. Its Project Matador campus is described as a gigawatt-scale private power platform combining private generation, grid power, powered shell buildings, substations, distribution networks, water and cooling systems, and related infrastructure.
Company news commonly covers Project Matador development, equipment and power infrastructure financing, potential tenant and partner activity, earnings releases, and governance matters. Recent updates also address board composition, executive leadership changes, shareholder solicitations, and strategic-plan disputes tied to the company's transition from startup-stage development toward a larger infrastructure enterprise.
Fermi America (NASDAQ: FRMI) secured a $165 million senior secured, first‑lien delayed draw term loan from CSG Investments (affiliate of Beal Bank USA) to fund remaining progress payments for six Siemens Energy SGT‑800‑57 turbines, with deliveries scheduled in 2028. This adds to >$865 million in equipment financing for Project Matador and supports near‑term turbine procurement ahead of project financing.
Funds flow through Fermi Turbine Warehouse II LLC; legal counsel included Vinson & Elkins and Davis Polk.
Fermi America (NASDAQ:FRMI) plans to file an additional 5GW Clean Air Permit with the Texas Commission on Environmental Quality, weeks after receiving an approved 6GW permit for Project Matador. The company now projects a ~17GW private power campus combining natural gas, nuclear, solar and batteries.
The expansion targets 11GW of clean natural gas and aims to add construction and permanent jobs in the Texas Panhandle while positioning the site for hyperscaler demand.
Fermi America (NASDAQ: FRMI) showcased Project Matador at NRC RIC 2026, positioning it as the nation's most advanced nuclear build.
Key facts: the project's combined operating license application is the only large LWR COLA accepted by the NRC in more than 15 years; partners include Westinghouse, Hyundai E&C, and Doosan Enerbility; Project Matador targets 4.4 GW of AP1000 nuclear and an 11 GW behind-the-meter campus with a proposed groundbreak on July 4, 2026.
Fermi America (NASDAQ:FRMI) received final Texas Clean Air Permit for 6 GW of clean natural gas generation at its 11 GW Project Matador campus on Feb 25, 2026. The permit confirms compliance with state and federal emissions standards and clears the way for vertical construction and mobilization of secured generation assets.
The company says it has over 2 GW of long lead-time gas assets and six Siemens SGT-800 turbines ready for deployment to Amarillo as it advances tenant negotiations and final project financing.
Fermi America (NASDAQ: FRMI) will host a live webcast and conference call on March 30, 2026 at 9:00 AM ET to present fourth quarter and full year 2025 financial and operational results.
The call will cover Project Matador progress, the company's path to scale, and include a live Q&A; investor materials and a replay will follow on the investor website. Fermi America will also file its Form 10-K for 2025 with the SEC.
Fermi America (NASDAQ: FRMI) secured over $100 million in committed equipment financing from a Keystone National Group private debt fund as part of a larger $200 million facility arranged by Cape Commercial Finance, expected to be drawn in 2026.
The proceeds will fund long-lead high-voltage breakers, transformers, substations and switchgear to accelerate delivery of the first 2.3GW of Project Matador’s planned 11GW private HyperGrid campus and complements a prior $500 million turbine warehouse from MUFG.
Fermi America (Nasdaq: FRMI) deepened its strategic partnership with Hyundai E&C to advance Project Matador, an 11 GW private energy campus near Amarillo, Texas. Ongoing FEED work supports planning for four AP1000 units and site, cooling, cost, and schedule development.
The company participated in Hyundai E&C's Feb. 10, 2026 Large-Scale Nuclear Technology Seminar to engage U.S. contractors, strengthen the nuclear supply chain, and boost workforce readiness toward a potential EPC pathway.
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.
Fermi America (Nasdaq: FRMI) announced arrival of six Siemens Energy SGT-800 gas turbines and generators for Project Matador, marking a milestone toward the campus's first gigawatt of power. These units will supply roughly one-third of the initial 1 GW capacity and arrived via seven vessels from four countries.
Heavy‑lift logistics included a 160+ ton crane, 36 oversized/heavy lifts, and over 400 specialized container chassis semi‑truck loads to move equipment from Port of Houston to site in Amarillo, Texas.
Fermi America (NASDAQ:FRMI) signed a definitive Electric Service Agreement with Southwestern Public Service Company, a subsidiary of Xcel Energy (NASDAQ:XEL), to secure up to 200 MW of electrical capacity for Fermi's 11 GW Project Matador Campus in Amarillo.
Under the ESA SPS will begin delivering 86 MW in January 2026, with deliveries ramping to 200 MW over time via SPS's 115-kilovolt transmission system to support large-scale AI and computing operations.