Fermi America said on Monday it has raised $100 million in a Series C preferred equity round led by Macquarie Group and secured a $250 million senior loan facility from Macquarie’s Commodities and Global Markets business, with $100 million drawn at close.
The financing will accelerate development of the company’s HyperGrid Project, which it describes as the world’s largest behind-the-meter artificial intelligence private grid campus. The funds will be used to secure long-lead supply chain assets and support construction of the project’s first phase in partnership with the Texas Tech University System.
“Macquarie’s leadership in both our Series C and senior loan facility underscores their conviction that our speed of execution is based on our team’s experience in real-time power generation and construction,” said Fermi America Co-Founder and Chief Executive Toby Neugebauer. “Like generations of entrepreneurs and workforces before us from this very region, we are delivering on energy promises made so that America can win again.”
Joshua Stevens, managing director in Macquarie’s Commodities and Global Markets business, said the investment reflects the project’s potential. “We are excited to be supporting Fermi America in the development of its power and data center platform. Its distinctive strategy and ability to tap into near-term power solutions make it well placed to address the fast-growing needs of AI and other high-performance computing applications,” he said.
Fermi America said the equity round and loan facility will strengthen its ability to secure global supply contracts, expand its team with subject matter experts, and advance construction of the HyperGrid Project.
