REG - Fermi Inc. - Fermi America Secures Final 6GW Clean Air Permit

FermiAnnouncement

26/02/2026 07:00

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RNS Number : 5173U  Fermi Inc.  26 February 2026

Fermi America™ Secures Final 6GW Clean Air Permit from the Texas Commission
on Environmental Quality (TCEQ) for World's Largest 11 GW Private Power Grid

First phase of construction almost complete at Fermi America's Project Matador
campus.

·    Final Air Permit Positions Fermi America Years Ahead, Having Already
Contractually Secured Over 2 GW of Long Lead Time Natural Gas Generation
Assets

·    Secures Key Regulatory Milestone, Positioning Fermi America to
Mobilize Previously Announced Gas Generation Units and Supports Transition to
Vertical Power Generation Construction

·    Behind-the-Meter Model Preserves Public Grid Reliability and Protects
Consumers and Small Businesses from Higher Utility Rates

(Amarillo, Texas ) February 26, 2026 - Fermi Inc. (d/b/a Fermi America) NASDAQ
& LSE: FRMI), (https://fermiamerica.com/) operating as Fermi America™ in
partnership with the Texas Tech University System (TTU System), today
announced that the Texas Commission on Environmental Quality (TCEQ) has
granted final approval of the nation's second largest Clean Air Permit for 6
gigawatts (GW) of clean natural gas-based power generation at its landmark 11
GW Project Matador campus.

TCEQ approval confirms compliance with state and federal emissions standards
and is a significant regulatory milestone, granting the Clean Air Permit
required to begin the vertical phase of power generation construction.

With air permitting secured - one of the longest lead-time approvals for
large-scale energy infrastructure - Project Matador now advances into the
final stages of the project finance and tenant negotiations phase. As the
project transitions into the next phase of execution, Fermi America is
positioned to mobilize its previously announced Siemens Energy SGT-800 gas
turbine fleet, six assets currently in the port of Houston, Texas, to the
Amarillo campus.

The TCEQ approval underscores Texas's leadership in enabling high-impact
private energy infrastructure while protecting consumer utility costs and
strengthening national energy security.

"When it comes to responsible, scalable energy production, it's no surprise
that Texas is leading the way," said Toby Neugebauer, Co-Founder and CEO of
Fermi America. "We appreciate Governor Abbott's leadership, the State of
Texas, and the TCEQ for their diligence in this process, while protecting the
grid and ensuring that Texas ratepayers aren't left footing the bill for
private AI power demand. And we are grateful for the incredible support of the
Amarillo community, where we look forward to adding thousands of jobs and
billions of dollars to the region's economy."

"Securing the second largest Clean Air Permit in the country is yet one more
significant milestone for our 11 GW private grid campus," added Fermi America
Chief Communications Officer and Director of Strategic Initiatives, Cathy
Landtroop. "With the issuance of today's air permit, the support of our fellow
West Texans, and Toby's foresight to lock up over 2 GW of long lead time power
assets, Fermi is uniquely positioned to help America's hyperscalers quickly
secure the private power they need at scale."

The permit follows a rigorous environmental and public review process,
including technical evaluation by TCEQ engineers, air quality modeling to
confirm compliance with state and federal standards, and a public notice and
comment period. Final issuance confirms the project meets all applicable air
quality requirements under Texas law and the federal Clean Air Act and that it
will be protective of public health and the environment. Post additional
analysis, environmental experts anticipate Project Matador will ultimately
support up to 11 GW of clean natural gas, which the company intends to pursue.

Project Matador is positioned at a pivotal moment as the United States enters
a historic surge in electricity demand driven by AI, advanced manufacturing,
industrial electrification, reshoring of critical supply chains, EV adoption,
defense modernization, and the expansion of the digital economy. As grid
capacity tightens in key regions, large commercial and industrial users are
increasingly seeking dedicated, scalable generation solutions. Project
Matador's gigawatt-scale platform is designed to meet this structural load
growth, strengthen American competitiveness, and provide long-term, reliable
power without burdening the public grid.

For media inquiries:
Lexi Swearingen
Media@FermiAmerica.com (mailto: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/ (https://fermiamerica.com/)

About Fermi America™:

Fermi America™ (NASDAQ & LSE: FRMI) is an advanced energy and
hyperscaler development company with a mission to power the future of
artificial intelligence directly to the world's most compute-intensive
businesses through its flagship initiative, Project Matador. Co-founded by
former U.S. Energy Secretary Rick Perry and Co-Founder and former Co-Managing
Partner of Quantum Energy Partners Toby Neugebauer, Fermi America™ combines
a deep bench of proven world-class multi-disciplinary leaders and over 2 GW of
secured long lead time natural gas generation assets to build the world's
largest next-gen private grid campus. Ultimately constructing 11GW of
behind-the-meter, low-carbon, on-demand power, Project Matador is expected to
integrate a large combined-cycle natural gas project, advanced nuclear power
generation, 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.

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