JOURNAL ARTICLE

Rick Perry's Energy REIT Fermi Raises $682.5 Million in IPO.

  • Published In: Bloomberg.com, 2025. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Griffin, Matthew 3 of 3

Abstract

The article focuses on Fermi Inc., a real estate investment trust co-founded by former US Secretary of Energy Rick Perry, which raised $682.5 million in its initial public offering (IPO). The company sold 32.5 million shares at $21 each, achieving a market value of approximately $12.5 billion. Fermi is developing "Project Matador," an advanced energy and intelligence campus on over 5,000 acres leased from Texas Tech University, aiming to attract data center tenants and generate one gigawatt of power by the end of next year. The firm plans to expand its power capacity to up to 11 gigawatts by 2038, utilizing a combination of natural gas, solar energy, and nuclear power. [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2025/09, pN.PAG
  • Document Type:Article
  • Subject Area:History
  • Publication Date:2025
  • Accession Number:188347997
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