The energy company founded by former Energy Secretary and Texas Governor Rick Perry filed an initial public offering this week as it moves forward with plans to develop what it calls one of the largest data centers in the world at Amarillo.
Fermi America announced its plans for the data center during the summer and this week’s filing layed out financing strategy, natural gas plans and an effort to obtain a Department of Energy loan or loans behind the AI boom that’s hitting the U.S., including Oklahoma.
Fermi announced in June intentions to build the center on a 5,263-acre site on land owned by Texas Tech University. It intends to build the “HyperGrid” and take advantage of natural gas and nuclear energy.
E&E News reported that in a filing with the Securities and Exchange Commission, Fermi said the site was on track to secure 1 gigawatt of power for its operations by the end of next year, including 200 megawatts through a deal with local utility Southwestern Public Service. The stock reportedly will trade on the Nasdaq and the London Stock Exchange as FRMI.
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