Fermi Americatm Closes $350 Million In Financings Led By Macquarie Group

(MENAFN- PR Newswire) This financing marks a major milestone for Fermi America as it accelerates the velocity of execution of the HyperGridTM Project, including securing long-lead supply chain assets, critical for America's success in the AI race.

"Macquarie's leadership in both our Series C and senior loan facility underscores their conviction that our speed of execution is based on our team's experience in real-time power generation and construction," said Fermi America Co-Founder & CEO Toby Neugebauer. "Like generations of entrepreneurs and workforces before us from this very region, we are delivering on energy promises made so that America can win again."

"We are excited to be supporting Fermi America in the development of its power and data center platform," said Joshua Stevens , Managing Director in Macquarie's Commodities and Global Markets business. "Its distinctive strategy and ability to tap into near-term power solutions make it well placed to address the fast-growing needs of AI and other high-performance computing applications."

The Series C equity round and senior loan facility provide a strong foundation for Fermi America to continue locking up global long-lead time items, adding subject matter experts and executers to the Fermi team, and constructing phase one of the HyperGridTM Project.

Fermi America was advised by Cantor, Newmark, and Donovan & Co. Legal counsel for the transaction was provided by Haynes Boone, Latham & Watkins, and Vinson & Elkins L.L.P.

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About Fermi AmericaTM

Fermi AmericaTM 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 AmericaTM 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 the largest nuclear power complex 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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SOURCE Fermi America

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