New updates have been reported about Fermi America.
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Fermi America has filed a new 5 gigawatt Clean Air Permit application with the Texas Commission on Environmental Quality, only weeks after securing its first roughly 6 gigawatt permit for Project Matador in late February 2025. The two permits anchor the company’s plan to build a private, low‑carbon power campus in Amarillo, Texas, targeting about 17 gigawatts of total capacity to serve hyperscale computing demand.
The buildout envisions approximately 11 gigawatts of clean natural gas generation complemented by nuclear, solar, battery storage, and grid power, with about 2.5 gigawatts of combined‑cycle gas assets already secured as long‑lead equipment. Co‑founder and CEO Toby Neugebauer positions Fermi America as a dedicated supplier of firm power for AI, advanced computing, manufacturing, and defense, arguing that traditional grids cannot currently deliver comparable scale or certainty.
The company describes Project Matador as the world’s largest next‑generation private grid campus, designed to provide on‑demand, low‑carbon energy directly to hyperscalers rather than relying on public ratepayers to fund the capacity expansion. Management highlights that Fermi America now combines an approved ~6 gigawatt permit, a freshly filed 5 gigawatt application, more than 2 gigawatts of secured generation equipment, and committed equipment financing as a platform for rapid execution.
Fermi America, listed on Nasdaq and the London Stock Exchange under the ticker FRMI, was co‑founded by former U.S. Energy Secretary Rick Perry and energy investor Toby Neugebauer, bringing together a senior leadership team with experience across power, policy, and capital markets. While the company underscores its confidence in reaching the 17 gigawatt target and meeting hyperscaler demand, it cautions that forward‑looking plans remain subject to regulatory, construction, financing, and market risks that could materially alter the project’s timing or scope.