Fermi Inc. Engages NAES for Maintenance of Gas Turbine Fleet

Fermi Inc. (NASDAQ:FRMI)(LSE:FRMI) has finalized an agreement with NAES Corporation to operate and maintain its natural gas turbine fleet at Project Matador in Carson County, Texas. This partnership introduces a seasoned operator with over 45 years of experience in managing power plants. The addition of NAES aims to ensure reliability and efficiency as Fermi's generation units begin operation.

This collaboration signifies progress for Project Matador, following recent milestones such as the arrival of Siemens Energy turbines and a binding lease with its first customer, TensorWave. Additionally, Fermi has formed strategic alliances with Primoris Services and Hillcore Energy for further power capacity.

Under the agreement, Fermi retains ownership while NAES handles operations and maintenance, incorporating its Enterprise Reliability Program to maintain uptime and system reliability. This initiative supports Fermi’s strategy of providing reliable power to address AI infrastructure needs.