On March 26, 2026, Fermi Inc. announced that its subsidiary, Fermi Turbine Warehouse II LLC, entered into a significant Equipment Supply Loan Financing Agreement with CLMG Corp. This agreement allows Fermi to secure up to $165 million to fund the acquisition of six Siemens Energy SGT-800 industrial gas turbines and related equipment for its Project Matador. The financing is structured as a senior secured term loan facility, with a portion of the funds allocated for interest and fees associated with the loan. The agreement stipulates that the loans will bear an interest rate of 12% per annum, with a default rate of 14% applicable in case of any defaults. The total loan commitment includes provisions for a maximum of 45 borrowings during the loan availability period, which is set to mature 33 months after the closing date. This financing is expected to enhance Fermi's operational capabilities and support its strategic initiatives in the energy sector. The company is also required to make a minimum equity contribution of $5.49 million towards the project, ensuring a strong commitment to the successful execution of the financing terms.

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