Fermi Secures $500M MUFG Loan for 11GW Project, Shares Jump 8%
Fermi raised $500 million debt financing from MUFG Bank in partnership with Texas Tech University System to fund its 11-gigawatt Project Matador, targeting an initial 2.3 GW of power and acquisitions of three Siemens Energy F-class gas turbines. Its stock surged 8.17% on the news.
1. Financing Details
Fermi secured a $500 million equipment loan from MUFG Bank in partnership with the Texas Tech University System to advance its energy campus plans. The facility will cover long-lead equipment purchases and repayment of existing debt.
2. Project Matador Expansion
Proceeds will support the 11-gigawatt Project Matador development, aiming to deliver an initial 2.3 GW of power. The company plans to acquire three Siemens Energy F-class gas turbines and deploy additional units in the first half of the year.
3. Financial and Market Impact
This financing strengthens Fermi’s strategy by locking in critical equipment early and mitigating refinancing risk. Shares jumped 8.17% on the announcement, indicating strong investor confidence in the capital raise and growth outlook.