REG - Fermi Inc. - Partnerships Announcement

FermiAnnouncement

29/10/2025 13:45

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RNS Number : 3663F  Fermi Inc.  29 October 2025

Fermi America™, City of Amarillo, and Carson County Ink Partnerships to
Structure Taxes and Secure First GW of Water to Power Tomorrow's AI

·    Carson County approved a 10-year tax abatement and reinvestment zone
for Fermi America's 11GW energy campus, securing local investment, spurring
economic growth and long-term, sustainable jobs across the region.

·    Amarillo City Council approved a 20-year water agreement to supply up
to 2.5 million gallons per day for Fermi America's private grid campus at 2x
the rate of area taxpayers.

Amarillo, Texas (October 29, 2025) - Fermi America™ (Nasdaq: FRMI) today
announced a new era of partnership with the City of Amarillo and Carson
County, uniting public and private leadership in a shared vision to drive
long-term prosperity, economic diversity and job growth for the region, while
answering President Trump's call for U.S. energy and AI dominance.

The Amarillo City Council's water-supply agreement allows the city to sell up
to 2.5 million gallons per day (MGD) at a rate of 2x Amarillo taxpayers and
more than other industries using significantly more water. Fermi also agreed
to fund the required infrastructure and committed to responsible water
stewardship for the Panhandle. The agreement included a non-binding memorandum
of understanding (MoU) providing the opportunity of scaling up to 10 MGD in
later phases as the project grows.

In addition, Carson County leadership approved a 10-year tax abatement and
reinvestment zone for Fermi America's 11GW private grid campus, creating new
tax revenues, securing local investment, spurring economic growth and
long-term, sustainable jobs across the region.

"These partnerships are built on that gritty West Texas way of doing
business," said Toby Neugebauer, Co-Founder and CEO of Fermi America. "Local
leaders asked the hard questions, did their homework, and made sure their
communities came first. We've heard the communities' concerns about water and
land use and we are committed to being responsible stewards of both."

In collaboration with the Texas Tech University System, Fermi
America's 11-gigawatt private next-generation energy campus in the Panhandle
of Texas is expected to diversify the economy and create high-paying jobs
across the region - all while generously supporting local projects like
AmTech.

"This is about more than energy," said former Texas Governor and Fermi
Co-Founder Rick Perry. "It's about American strength and Texas grit. The City
of Amarillo and Carson County are stepping up in a big way-showing the nation
what it means to lead, to serve, and to build a stronger future together."

For media inquiries, please contact:  


Lexi Swearingen  


Media@FermiAmerica.com

 

About Fermi America

Fermi America™ (Ticker: FRMI) (https://fermiamerica.com/
(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 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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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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