Fermi America: Strengthening Power for Data Centre Growth

In partnership with Texas Tech University System, Fermi America has announced that it has secured US$500m financing commitment from one of the largest global financial groups, MUFG Bank, Ltd.

The financing from MUFG highlights its institutional backing of Fermi America’s strategy, supporting the acceleration to deliver the first 2.3GW of 11GW of long term, reliable power at scale.

Toby Neugebauer, CEO and Co-Founder of Fermi America, says: "This financing puts real muscle behind our strategy, securing long-lead equipment early, staying ahead of the market and executing with certainty.

"We're doing what most people said was unthinkable and we're doing it at Fermi speed."

Why financing is crucial for power generation

As a global project finance leader, MUFG provides carefully crafted solutions to clients that require power generation, digital infrastructure, transportation infrastructure and natural resources. 

The bank has a great history with leading multi-billion-dollar projects that are financing for both large-scale power and data centre developments.

Proceeds created from the financing will be used for various projects including, three Siemens Energy F-class gas turbines, a proven industrial frame class asset widely deployed across large-scale and mission-critical power infrastructure globally.

How is the MUFG financing utilised?

Through partnerships, Siemens Energy provided Fermi America with support in securing the long-lead, high-demand gas generation assets that remain crucial to the near-term power delivery timeline. 

John Donovan, Executive Vice President of Capital Markets for Fermi America, says: "MUFG has been an exceptional partner throughout this process.

"They recognised the importance of execution certainty and coordinated globally across multiple teams to deliver the financing on an accelerated timeline. 

“The agreement reflects not only strong execution, but a deepening relationship that we look forward to expanding across the institution as we continue to scale our platform."

Fermi America will also use the financing loan to initiate the delivery, complete construction and deployment of additional turbines. 

In a joint statement, Daniel Seltzer, Head of Infrastructure, Project Finance and Terry McKay, International Co-Head of Global Structured Solutions of MUFG, say: "MUFG is pleased to support the early stage of Fermi America's buildout with this equipment financing, marking an initial step toward what will become the largest power and AI datacentre campus.

"We're impressed by what the Fermi team has achieved so far and by the pace at which they're moving. We look forward to continuing our collaboration in the years ahead."

The transaction enhances near-term execution visibility and reinforces Fermi America’s strategic positioning to secure future project-level financing as it scales its data centre platform.

Making progress for reliable power

In only 150 days, the company has made substantial progress across multiple fronts.

Fermi America has advanced key licensing processes, secured long-term site control, partnered with leading construction firms, strengthened its capital structure and accelerated critical infrastructure development. 

Together, these steps position the business to deliver clean, reliable power at scale, a capability increasingly vital to data centre operators facing surging AI and digital infrastructure demand.

The facility provides early-stage equipment certainty while preserving balance sheet flexibility, reinforcing Fermi America’s strategy to align large-scale generation development with the accelerating power demands of hyperscale and AI-driven data centres.