Rendering of the Fermi America™ Private HyperGrid™ Campus
Fermi America Secures Key Partnerships for West Texas Growth
Former Energy Secretary Rick Perry’s firm Fermi America, co-founded with Texas Tech University and others, gained momentum this week through two major energy development announcements.
The first announcement focused on a partnership with the City of Amarillo and Carson County. The Amarillo City Council approved a water-supply agreement allowing the city to sell up to 2.5 million gallons per day (MGD) to Fermi. The sale price equals twice the rate paid by Amarillo taxpayers and exceeds the rate for other high-volume industrial users.
In return, Fermi America agreed to fund the infrastructure improvements required to deliver the water and committed to responsible water stewardship across the Panhandle. The deal included a non-binding memorandum of understanding (MoU) that could expand the supply to 10 MGD as the project scales up.
In addition, Carson County officials approved a 10-year tax abatement and a reinvestment zone for Fermi’s planned 11-gigawatt (GW) private grid campus. The initiative aims to generate new tax revenues, secure local investment, and create long-term, sustainable jobs across the region.
“These partnerships are built on that gritty West Texas way of doing business,” said Toby Neugebauer, Co-Founder and CEO of Fermi America. “Local leaders asked the hard questions, did their homework, and made sure their communities came first. We’ve heard the concerns about water use and land management, and we remain committed to being responsible stewards of both.”
Doosan and Hyundai Join Fermi’s Nuclear Expansion
Earlier in the week, Fermi America also announced an agreement with South Korean firm Doosan Enerbility to forge nuclear equipment for its upcoming projects. According to E&E News, the deal gives Fermi a preeminent position in securing reactor components.
The company also partnered with Hyundai Engineering & Construction to design four AP1000 nuclear reactors under Project Matador, a large-scale hypergrid energy campus currently under development. The campus will deliver 11 gigawatts of power from a blend of nuclear, natural gas, solar, and battery storage sources, reported Yahoo Finance.
Following the announcements, Fermi shares jumped more than 25%, signaling strong investor confidence in its diversified energy strategy.
Texas Tech Collaboration Strengthens Local Economy
In collaboration with the Texas Tech University System, Fermi America’s next-generation 11GW campus is expected to diversify the West Texas economy, create high-paying jobs, and support local initiatives such as AmTech.
The project’s comprehensive approach combines innovation in nuclear technology, renewable energy, and infrastructure development, establishing Fermi America as a leading player in U.S. energy advancement.
“This is about more than energy,” said former Texas Governor and Fermi Co-Founder Rick Perry. “It’s about American strength and Texas grit. The City of Amarillo and Carson County are stepping up in a big way—showing the nation what it means to lead, to serve, and to build a stronger future together.”