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FermiAnnouncement

27/10/2025 07:00

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RNS Number : 9106E  Fermi Inc.  27 October 2025

Fermi America™ Inks Historic Nuclear Deals Ahead of President Trump's Seoul
Visit, Securing Lead Position to Initiate AP1000s for America's Nuclear
Renaissance

 

·    Companies Unite to Deliver Nuclear Energy on Time and on Budget,
Ensuring America's Premier Position in the Race to Power Tomorrow's
Intelligence with the World's Leading Tech Companies

·    Hyundai E&C Inks Front-End Engineering Design (FEED) Contract to
Provide America's First Clean New Nuclear Power at World's Largest Private
Grid

·    Doosan Enerbility Inks Deal to Secure Fermi's Premier Position for
Long Lead Time Nuclear Assets

·    Concrete Steps Laid Out to Build Four AP1000 Reactors Consistent with
Multiple Successful Global Builds

·    Fermi America Thanks Texas Governor Greg Abbott, Lieutenant Governor
Dan Patrick, and Speaker Dustin Burrows for Their Leadership in Advancing
Energy Independence Through Creation of the Texas Advanced Nuclear Energy
Office (TANEO) and Funding Mechanisms That Empower Texas to Lead the Way

 

Amarillo, Texas - October 27, 2025 -Answering President Trump's call for
America to dominate global energy and intelligence, Fermi America inks two
historic nuclear deals ahead of the President's Seoul, South Korea visit.

 

As the pacesetter in kickstarting America's nuclear renaissance, Fermi
announced an agreement with Doosan Enerbility to initiate forging production
of critical long-lead-time nuclear equipment (reactor pressure vessels and
steam generators) amid a convoluted supply chain. This strategic deal locks in
Fermi's preeminent position for Westinghouse AP1000 reactor projects. On the
heels of being the first company to file for its combined operating license
(COL), which was accepted for review by the Nuclear Regulatory Commission in
September, Fermi continues to advance its commitment to build clean, new
nuclear power on time and on budget.

 

Simultaneously, Fermi announced the signing of a Front-End Engineering Design
(FEED) contract with Hyundai Engineering & Construction (E&C) to begin
engineering work on four AP1000 nuclear reactors for Project Matador, a
first-of-its-kind, behind the meter private grid campus under construction in
the Texas Panhandle. Marking a major milestone in the partnership between
Fermi America and Hyundai E&C, the agreement reflects a shared commitment
to delivering nuclear power to America's major tech companies on time, on
budget, and at a cost per gigawatt that is consistent with the world's most
successful energy projects.

 

Today's announcement follows a Memorandum of Understanding (MoU) with Doosan
for development of both large-scale commercial nuclear plants and small
modular reactor technologies and a Strategic Partnership Agreement with
Hyundai E&C marking the Early Contractor Involvement stage in the
long-term partnership between Fermi America and Hyundai E&C. A full
engineering, procurement, and Construction (EPC) agreement is expected to
follow in early 2026.

 

"Working with our allies, who have successfully constructed multiple large
scale nuclear projects on time and on budget across the globe, is exactly the
kind of expertise required for America to win this race," said Toby
Neugebauer, Co-founder & CEO of Fermi America. "Doosan Enerbility and
Hyundai E&C have been waiting for an American company to stop power
pointing about nuclear and start building it. Their firm commitment to Fermi
America positions us for action, leveraging their track record of success to
build clean, new nuclear power at the velocity and scale the President demands
and the U.S. requires."

 

"Doosan's commitment to putting Fermi in the front of the nuclear power plant
component line alongside Hyundai E&C's FEED award is where vision turns
into execution," said Mesut Uzman, CEO of Fermi Nuclear and a veteran nuclear
power executive. "Between their unmatched global record and Fermi's commitment
to action, Project Matador is setting the pace for how advanced nuclear power
will be built - efficiently, affordably, safely, and at scale."

 

"Based on our mutual respect and seeing Fermi America deliver on promises
made, we were eager to launch our plan to help America build clean, new
nuclear starting with their Project Matador campus in Texas," added Jongdoo
Kim, president of Doosan Enerbility. "We are pleased to partner with Mesut
Uzman and look forward to continuing successful nuclear projects together."

 

Hyundai E&C's Chief Executive Officer, Hanwoo Lee, and his team recently
toured Fermi's site in the Texas Panhandle, which he stated was "an
extraordinary opportunity to restart America's nuclear industry next door to
one of its most historic nuclear facilities." Mr. Lee continued, "Our firm
commitment to American nuclear power starts with Fermi America, where we will
show the world that nuclear can and will once again be successfully built in
the United States."

 

Fermi America also expressed its deep appreciation for the bold leadership of
Texas Governor Greg Abbott, Lieutenant Governor Dan Patrick, and Speaker
Dustin Burrows, whose efforts have positioned Texas at the forefront of
America's energy independence. The creation of the Texas Advanced Nuclear
Energy Office (TANEO) and the Legislature's decision to fund the program with
$350 million demonstrate an unmatched commitment to innovation and
private-sector collaboration on ground-breaking projects like Matador.

 

The first-of-its-kind HyperGrid™ campus aiming to combine natural gas,
solar, nuclear and battery power for a total of 11 GW, Fermi's Project Matador
campus sits adjacent to Pantex, the facility which has stewarded America's
nuclear arms since 1951.

 

Fermi America's project represents a new model for U.S. energy and
intelligence dominance - pairing privately financed infrastructure with the
reliability and scale of commercial nuclear energy.

 

For media inquiries, please contact:  


Lexi Swearingen  


Media@FermiAmerica.com

 

About Fermi America

Fermi America™ (https://fermiamerica.com/) is pioneering the development of
next-generation electric grids that deliver highly redundant power at gigawatt
scale, required to create next-generation artificial intelligence. 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 to create the world's largest, next-gen private
grid. The behind-the-meter campus is expected to integrate one of the largest
nuclear power complexes in America, the nation's biggest combined-cycle
natural gas project, utility grid power, solar power, and battery energy
storage, to deliver hyperscaler artificial intelligence.

 

About Hyundai Engineering & Construction

Hyundai E&C, founded in 1947, is one of Korea's leading construction
companies, with a strong track record in delivering major infrastructure and
nuclear power projects worldwide. With experience constructing 26 nuclear
power units globally, Hyundai E&C has established itself as a trusted and
proven player in the global nuclear industry. The company is actively
enhancing its capabilities in next-generation nuclear technologies and is
expanding its portfolio to include Small Modular Reactors (SMRs). In addition,
Hyundai E&C is broadening its expertise across renewable energy, hydrogen
infrastructure, and low-carbon construction, positioning itself as a reliable
Energy Transition Leader committed to building a more sustainable and
resilient energy future.

 

About Doosan Enerbility

Doosan Enerbility (the word coined from energy and sustainability,) is a heavy
industrial company based in Changwon, South Korea. The largest global supplier
of nuclear power plant components, the company alongside Korea Hydro &
Nuclear Power, is expanding its services to position itself as the global
leader in both power and water. Committed to superior technology, price
competitiveness, product and service quality, sales and profitability,
employee development and corporate culture, Doosan is positioning itself as a
trend-setting global leader.

 

Forward-Looking Statements

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forward-looking statements may not turn out to be correct. Our results could
be materially different from our expectations because of various risks.

 

 

 

 

 

 

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