IN BRIEF: Fermi files second clean air permit for Project Matador grid

Fermi Inc - Texas-based real estate investment trust focused on data centres and trading as Fermi America - Files a further clean air permit application with the Texas Commission on Environmental Quality for 5 gigawatts of additional power for its Project Matador private grid. This follows the final approval granted by the commission for its initial six-gigawatt clean air permit last month. Fermi explains this reflects its target of around 17 gigawatts of total power. Adds that this includes 11 gigawatts of natural gas power, alongside nuclear energy, solar and battery sources.

"America's hyperscalers need power certainty at a scale that the grid simply can't accommodate at this time," said Fermi Co-Founder & Chief Executive Toby Neugbauer.

"While the industry looks to add measurable power to the grid in the coming years, Fermi has already secured the assets to bring [around] 2.5 gigawatts of gas-fired power generation (in combined cycle) online."

Current stock price: USD6.45, up 5.9% on Monday morning in London

12-month change: down 69% from November listing price of USD21.00

By Christopher Ward, Alliance News reporter

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