REG - Fermi Inc. - MUFG Backs Fermi America with $500 Million Loan

FermiAnnouncement

11/02/2026 07:00

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RNS Number : 5231S  Fermi Inc.  11 February 2026

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

·    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) February 11, 2026: Fermi Inc. (d/b/a Fermi America) (Nasdaq
& LSE: FRMI), (https://fermiamerica.com/) operating as Fermi America™
(https://fermiamerica.com/) , 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." -center campus.

For media enquiries: 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) (https://fermiamerica.com/) 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
(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. (http://www.mufgamericas.com/)

 

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