Fermi America, the operating name of Fermi Inc., has secured more than $100 million in equipment financing to accelerate procurement of critical high-voltage infrastructure for its 11-gigawatt (GW) Project Matador development in Texas.
The move underscores how developers are turning to private credit to navigate supply-chain bottlenecks and grid constraints, the company said Feb. 19, noting that the commitment comes from a private debt fund managed by Keystone National Group and is part of a broader $200 million facility arranged by Cape Commercial Finance.
“Strong institutional investor support continues to build behind Project Matador,” said Toby Neugebauer, CEO and co-founder of Fermi America. “While everyone is debating big tech use of grid power, the backing of legitimate financial organizations like Keystone National Group affirms that Fermi America is building the actual solution here in Amarillo, Texas — private grid power for AI at scale.”…