In June, Fermi America announced plans for the world’s largest energy-driven artificial intelligence complex, referred to as Project Matador. Located in Amarillo, Texas, in partnership with the Texas Tech University System, the project is expected to be a first-of-its-kind behind-the-meter HyperGrid campus that will “integrate the largest nuclear power complex in America, the nation’s biggest combined-cycle natural gas project, utility grid power, solar power, and battery energy storage to deliver next-generation artificial intelligence”. The company – co-founded by former US Secretary of Energy Rick Perry – said that geotechnical work had already begun on the campus which is expected to deliver a gigawatt of online power by the end of 2026. On 17 June, Fermi America submitted its Combined Operating Licence Application to build four Westinghouse AP1000 reactors as part of the project. The company plans to begin construction on the nuclear power complex next year and aims to have the first reactor operational by 2032.
Fermi has now signed an agreement with Doosan Enerbility to initiate forging production of critical long-lead-time nuclear equipment – the reactor pressure vessels and steam generators.
“This strategic deal locks in Fermi’s preeminent position for Westinghouse AP1000 reactor projects,” Fermi America said. “On the heels of being the first company to file for its combined operating licence, which was accepted for review by the Nuclear Regulatory Commission in September, Fermi continues to advance its commitment to build clean, new nuclear power on time and on budget.”
Fermi has also signed a Front-End Engineering Design (FEED) contract with Hyundai Engineering & Construction (E&C) to begin engineering work on four AP1000 nuclear reactors for Project Matador. Under this contract, Hyundai E&C will carry out the basic design for the first phase of the construction of the reactors, which includes developing a site layout plan, reviewing cooling methods, and estimating budget and schedule.
In July, Fermi America signed an MoU with Hyundai E&C “setting forth the material terms under which the parties will jointly design and execute the delivery of safe, clean new nuclear power” within the power complex. Under the MoU, the two companies will cooperate on: joint planning of a nuclear-based hybrid energy project; development of detailed work packages for each project stage; basic design (FEED); and pursuit of an Engineering, Procurement, and Construction (EPC) contract within the year.
“Today’s announcement follows an MoU with Doosan for development of both large-scale commercial nuclear plants and small modular reactor technologies and a Strategic Partnership Agreement with Hyundai E&C marking the Early Contractor Involvement stage in the long-term partnership between Fermi America and Hyundai E&C,” Fermi said. “A full EPC agreement is expected to follow in early 2026.”
“Working with our allies, who have successfully constructed multiple large scale nuclear projects on time and on budget across the globe, is exactly the kind of expertise required for America to win this race,” said Fermi America co-founder and CEO Toby Neugebauer. “Doosan Enerbility and Hyundai E&C have been waiting for an American company to stop PowerPointing about nuclear and start building it. Their firm commitment to Fermi America positions us for action, leveraging their track record of success to build clean, new nuclear power at the velocity and scale the President demands and the US requires.”
“Doosan’s commitment to putting Fermi in the front of the nuclear power plant component line alongside Hyundai E&C’s FEED award is where vision turns into execution,” said Mesut Uzman, CEO of Fermi Nuclear. “Between their unmatched global record and Fermi’s commitment to action, Project Matador is setting the pace for how advanced nuclear power will be built – efficiently, affordably, safely, and at scale.”
“Based on our mutual respect and seeing Fermi America deliver on promises made, we were eager to launch our plan to help America build clean, new nuclear starting with their Project Matador campus in Texas,” added Jongdoo Kim, president of Doosan Enerbility. “We are pleased to partner with Mesut Uzman and look forward to continuing successful nuclear projects together.”
Hyundai E&C noted it is the first Korean company to win a contract for a large-scale nuclear power plant construction project in the USA. “This is significant in that it establishes a solid foundation for solidifying its position in the US nuclear power market, leveraging its unrivaled nuclear power plant construction capabilities – the only one in the history of nuclear power plant construction to achieve on-time, on-budget performance,” it said.
“This contract is an important achievement that proves that Hyundai Engineering & Construction is a trustworthy nuclear power plant partner in the global energy market, and we will seek ways to strengthen practical cooperation based on the close energy partnership between Korea and the US,” a Hyundai E&C official said.
