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Fermi America™ Secures $165 Million Equipment Financing Facility from CSG Investments, an Affiliate of Beal Bank USA, to Accelerate Delivery of Six SGT-800 Gas Turbines for 2028 Delivery at Project Matador
Fermi America Executes Second Turbine Warehouse Financing Facility in Two Months, Surpassing $865 Million in Equipment Financing for Project MatadorThis Fleet
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[{"type":"text","content":"Fermi America Executes Second Turbine Warehouse Financing Facility in Two Months, Surpassing $865 Million in Equipment Financing for Project MatadorThis Fleet of Siemens Energy Units is Scheduled to Arrive in 2028, Consistent with Project Matador's Scheduled Power RampAMARILLO, Texas, March 27, 2026 /PRNewswire/ -- Fermi Inc. (d/b/a Fermi America) (NASDAQ & LSE: FRMI), operating as Fermi America™, today announced that it has secured a $165 million senior secured, first lien delayed draw term loan from CSG Investments, Inc., an affiliate of Beal Bank USA, to finance the remaining progress payments on its previously ordered six Siemens Energy SGT-800-57 gas turbines, with delivery scheduled in 2028. \n \n \n \n \n \n \n \nA private energy campus built to deliver power at true hyperscale so that the world's leading companies can continue innovating at the speed of capitalism — Project Matador combines clean natural gas, advanced nuclear, solar, and battery storage into a single, integrated HyperGrid™. Anchored by Siemens Energy SGT-800 gas turbines as the near-term foundation, the campus is designed to ultimately generate 17GW of firm, low-carbon, on-demand power — with AP1000 advanced nuclear reactors as the long-term backbone. With an approved ~6GW Clean Air Permit, plans to file an additional ~5GW Clean Air Permit, and over $865 million in equipment financing, Project Matador continues to accelerate and execute key milestones that are critical to achieving near and long term success.The Borrower of the facility is Fermi Turbine Warehouse II LLC, a wholly owned special purpose entity of Fermi Inc.The transaction follows Fermi America's $500 million turbine warehouse facility with MUFG Bank, Ltd. and the ~$200 million facility from Keystone National Group, both closed in February 2026.\"Every dollar of capital we secure is highly intentional and is a vote of confidence in Project Matador,\" said Toby Neugebauer, Chief Executive Officer and Co-Founder of Fermi America. \"At a time when supply chain logs for long lead time items and connection queues are holding back America's leading companies, Fermi is helping provide the ramp needed to access clean, redundant power certainty in an uncertain market.\"\"We have tremendous respect for the CSG and Beal Bank USA teams - they brought real expertise in asset finance to this transaction ...