Fermi Inc. announced that its subsidiary, Fermi Services LLC, has signed a five-year management agreement with CBRE making the commercial real estate services firm the exclusive operations and maintenance provider for building one, Fermi's first data center in the Texas Panhandle. The term runs five years from the day building one is first ready for service, and Fermi can renew it in five-year terms. CBRE begins transition work on Fermi's notice to proceed, with site leaders on the ground up to 120 days before that to build maintenance programs, check equipment, and write operating procedures. CBRE will run and care for the maintenance, cooling, fire protection, and building systems behind the compute, and as new buildings come online Fermi can add them under the same framework to keep one operating standard across the campus. The agreement follows a run of milestones at Project Matador: this month the first Siemens Energy SGT6-5000F turbines arrived on site, in August Fermi signed a binding lease with TensorWave, its first customer, and formed an alliance with Hillcore Energy Capital Corporation for roughly 2.6 gigawatts of added power, and before that Fermi signed Primoris Services Corporation and TSK as its EPC partners. The project is secured or under long-term lease with more than $1.5 billion invested in buildout to date and, subject to entering into binding customer agreements, is expected to ramp to approximately 17 GW.
Siemens Energy AG
Primoris Services Corporation
CBRE Group Inc Class A
Fermi Inc.