Fermi Inc. Contracts NAES Corporation for Project Matador Operations

Fermi Inc. entered into an operations and maintenance agreement with NAES Corporation to manage a natural gas turbine fleet at Project Matador in Carson County, Texas. Under the contract, NAES Corporation will oversee operating procedures, work management systems, site safety, and environmental compliance as units become operational. Fermi Inc. retains ownership of the assets and overall control of the facility.

Project Matador, located in the Texas Panhandle, has received more than $1.5 billion in investment. The site is expected to ramp to approximately 17 gigawatts, pending binding customer agreements. This operational deal follows the arrival of Siemens Energy SGT6-5000F turbines and the earlier September selection of CBRE to maintain the site's first data center.

Chief Executive Officer Lee McIntire confirmed the project's progress, stating, "Our first customer is signed, our turbines are secured, and our EPC partners are on board."