Fermi America™ (NASDAQ & LSE: FRMI) has secured over $100 million in committed equipment financing from Keystone National Group, part of a larger $200 million facility arranged by Cape Commercial Finance. The financing supports procurement of long‑lead high‑voltage assets for the first 2.3GW of Project Matador’s planned 11GW private HyperGrid™ campus in Amarillo, Texas.
Financing Details
The facility enables Fermi America to accelerate acquisition of utility‑grade breakers, transformers, substations, and switchgears. Structured for redeployment, the capital can be recycled as assets are refinanced through project financing. Keystone National Group, a private credit leader with more than $6 billion deployed, views Project Matador’s infrastructure as premium, financeable assets critical to America’s energy future.
Strategic Context
This commitment complements Fermi America’s $500 million turbine warehouse financing from MUFG Bank, Ltd. Together, the financings demonstrate growing institutional confidence in Project Matador. In just 180 days, Fermi America has advanced licensing, secured long‑term site control, brought in top‑tier construction partners, and completed key infrastructure milestones to support delivery of clean, reliable power at scale.
Leadership Commentary
Chief Executive Officer Toby Neugebauer said institutional backing affirms Fermi America’s role in building private grid power for AI at scale. Executive Vice President John Donovan highlighted that more than $600 million in institutional equipment commitments have been secured in 30 days, ensuring the company has the support needed to deliver on its promises. Keystone National Group co‑founder John Earl added that the financing provides flexibility for immediate deployment and future growth.
About Fermi America
Fermi America™ (NASDAQ & LSE: FRMI) develops next‑generation private electric grids delivering highly redundant power at gigawatt scale to support AI compute and advanced industry. Co‑founded by Rick Perry and Toby Neugebauer, the company is building Project Matador, an 11GW private HyperGrid campus integrating natural gas, nuclear, solar, battery storage, and utility grid power.
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