AMARILLO, Texas, Feb. 10, 2026 /PRNewswire/ — Fermi Inc. (d/b/a Fermi America) (Nasdaq & LSE: FRMI), operating as Fermi America™, 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.