Fermi America secured $350 million in financing, led by Macquarie Group, to advance the AI-powered HyperGrid Project, a major leap in energy and data center innovation.
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| Fermi America raises $350 million in financing, led by Macquarie, to power the HyperGrid AI project, transforming the intersection of energy, data centers, and AI computing. Image: FA |
AMARILLO, Texas, United States — August 30, 2025:
Fermi America, a frontrunner in AI-driven energy and data center solutions, has successfully closed $350 million in financing to accelerate the development of its groundbreaking HyperGrid Project. The financing includes a $100 million Series C preferred equity round, spearheaded by Macquarie Group, alongside a $250 million senior loan facility funded entirely by Macquarie’s Commodities and Global Markets business. As part of the agreement, $100 million has already been drawn from the loan facility.
The HyperGrid Project, set to become the world’s largest behind-the-meter AI-powered grid campus, will be developed in collaboration with the Texas Tech University System. This strategic investment positions the U.S. at the forefront of both the energy and artificial intelligence sectors, addressing the increasing demand for power solutions tailored to the high-performance computing needs of AI applications.
Fermi America Co-Founder and CEO Toby Neugebauer expressed his gratitude for the support, noting, “Macquarie’s leadership in this financing underscores their belief in our team's ability to execute swiftly. With this funding, we are advancing the energy solutions of tomorrow, which are essential for America's continued leadership in both AI and sustainable energy."
Joshua Stevens, Managing Director of Macquarie’s Commodities and Global Markets business, emphasized the long-term strategic value of the HyperGrid Project. “We are thrilled to support Fermi America in building its power and data center platform. The company’s innovative approach is uniquely positioned to address the urgent needs of AI and high-performance computing, both of which are critical to the future of global technology.”
The financing will enable Fermi America to secure long-lead time components, add critical expertise to its growing team, and continue advancing the first phase of the HyperGrid Project. These efforts are designed to accelerate the development of infrastructure that is vital to maintaining America’s technological edge in AI and energy sectors.
Advisory roles for the transaction were held by Cantor, Newmark, and Donovan & Co., while legal counsel was provided by Haynes Boone, Latham & Watkins, and Vinson & Elkins L.L.P.
With this significant financial backing, Fermi America is poised to revolutionize the energy and AI industries, marking a pivotal moment in the evolution of power generation and data center infrastructure.