Latest news with #FermiAmerica
Malaysian Reserve
a day ago
- Business
- Malaysian Reserve
Fermi America™ and ASP Isotopes Join Forces to Secure America's Advanced Reactor Fuel Supply
–Texas-based private grid campus to host one of the first U.S. HALEU enrichment facilities, strengthening energy security and reducing reliance on foreign sources AMARILLO, Texas, Aug. 15, 2025 /PRNewswire/ — Fermi America, developer of the 11 GW private grid campus for next-generation hyperscale AI in collaboration with the Texas Tech University System, today announced it has signed a Memorandum of Understanding (MOU) with ASP Isotopes Inc. (NASDAQ: ASPI) and its subsidiary Quantum Leap Energy LLC (QLE) to explore the development of a High Assay Low Enriched Uranium (HALEU) enrichment facility at Fermi America's site in Carson County, Texas. The planned facility would use advanced laser-based isotope separation technology to produce HALEU — a specialized nuclear fuel essential for many Generation IV and small modular reactor (SMR) designs. With very few commercial HALEU suppliers currently operating in the Western world, the project is intended to strengthen U.S. and allied supply chains, reduce reliance on Russian enrichment, and accelerate the deployment of advanced nuclear technologies. Fermi America's private grid campus will be anchored by four AP1000® nuclear units using conventional fuel, with the potential to integrate advanced reactor technologies in future phases. The addition of domestic HALEU production capability would position the private grid as both a significant clean energy generator and a strategic nuclear fuel hub. 'Our nation's ability to lead in advanced nuclear energy is directly tied to our capacity to fuel it here at home,' said Toby Neugebauer, Co-Founder and CEO, Fermi America. 'This decision helps ensure that America's next generation of nuclear reactors will be powered by American innovation, technology, and resolve.' 'This collaboration represents a decisive step toward securing the nuclear fuel needed for the next wave of advanced reactors,' said Mesut Uzman, Chief Nuclear Construction Officer, Fermi America. 'It reinforces our mission to build the most advanced, resilient, and secure private grid in the world.' 'Advanced reactors cannot be built without HALEU, and our Quantum Enrichment™ technology is designed to deliver it with speed, precision, and environmental responsibility,' said Paul Mann, Chairman and CEO, ASP Isotopes Inc. 'Partnering with Fermi America gives us the platform and location to play a central role in the emerging Western HALEU market.' 'Energy security is national security,' said Rick Perry, Co-Founder of Fermi America and former U.S. Secretary of Energy. 'This project will help America control its own destiny in nuclear power, create jobs here in Texas, and send a clear message that the United States intends to lead – not follow – in the race for advanced, carbon-free energy.' According to the U.S. Department of Energy, U.S. HALEU demand could exceed 50 metric tons annually by 2035, with similar needs emerging in Europe and Asia. The proposed project would help meet this demand, supporting the clean energy transition while enhancing energy security. For media inquiries, please contact:Lexi Swearingen[email protected] About Fermi America Fermi America is pioneering the development of next-generation electric grids that deliver highly redundant power at gigawatt scale, essential for enabling next-generation artificial intelligence. Co-founded by former U.S. Energy Secretary Rick Perry, Fermi America's behind-the-meter HyperGrid campus 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. About the Texas Tech University SystemEstablished in 1996, the Texas Tech University System is one of the top public university systems in the nation, consisting of five universities – Texas Tech University, Texas Tech University Health Sciences Center, Angelo State University, Texas Tech University Health Sciences Center El Paso and Midwestern State University. Headquartered in Lubbock, Texas, the TTU System is a more than $3 billion enterprise focused on advancing higher education, health care, research and outreach with approximately 21,000 employees and 64,000 students, more than 400,000 alums, a statewide economic impact of $19.2 billion and an endowment valued at $3 billion. In its short history, the TTU System has grown tremendously and is nationally acclaimed, operating at 20 academic locations in 16 cities (15 in Texas, 1 international). In addition, the TTU System is one of only nine in the nation to offer programs for undergraduate, medical, law, nursing, pharmacy, dental and veterinary education, among other academic areas. About ASP Isotopes Isotopes Inc. (NASDAQ: ASPI) is an advanced materials company dedicated to the production of enriched isotopes for use in multiple industries, including nuclear energy, medicine, semiconductors, and quantum computing. Through its subsidiary Quantum Leap Energy, ASPI is developing Quantum Enrichment™ technology to produce HALEU fuel and other critical isotopes at lower cost, faster, and with no radioactive waste. Forward-Looking StatementsThis press release may contain 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our strategy, future operations, financial position, prospects, plans and objectives of management. In some cases, you can identify forward-looking statements because they contain words such as 'may,' 'will,' 'will be,' 'will likely result,' 'should,' 'expects,' 'plans,' 'anticipates,' 'could,' 'would,' 'foresees,' 'intends,' 'target,' 'projects,' 'contemplates,' 'believes,' 'estimates,' 'predicts,' 'potential,' 'outlook,' or 'continue' or the negative of these words or other similar terms or expressions. These forward-looking statements are not guarantees of future performance, but are based on management's current expectations, assumptions, and beliefs concerning future developments and their potential effect on us, which are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict. Our expectations expressed or implied in these forward-looking statements may not turn out to be correct. Our results could be materially different from our expectations because of various risks.
Associated Press
a day ago
- Business
- Associated Press
Fermi America™ and ASP Isotopes Join Forces to Secure America's Advanced Reactor Fuel Supply
-Texas-based private grid campus to host one of the first U.S. HALEU enrichment facilities, strengthening energy security and reducing reliance on foreign sources AMARILLO, Texas, Aug. 15, 2025 /PRNewswire/ -- Fermi America, developer of the 11 GW private grid campus for next-generation hyperscale AI in collaboration with the Texas Tech University System, today announced it has signed a Memorandum of Understanding (MOU) with ASP Isotopes Inc. (NASDAQ: ASPI) and its subsidiary Quantum Leap Energy LLC (QLE) to explore the development of a High Assay Low Enriched Uranium (HALEU) enrichment facility at Fermi America's site in Carson County, Texas. The planned facility would use advanced laser-based isotope separation technology to produce HALEU — a specialized nuclear fuel essential for many Generation IV and small modular reactor (SMR) designs. With very few commercial HALEU suppliers currently operating in the Western world, the project is intended to strengthen U.S. and allied supply chains, reduce reliance on Russian enrichment, and accelerate the deployment of advanced nuclear technologies. Fermi America's private grid campus will be anchored by four AP1000® nuclear units using conventional fuel, with the potential to integrate advanced reactor technologies in future phases. The addition of domestic HALEU production capability would position the private grid as both a significant clean energy generator and a strategic nuclear fuel hub. 'Our nation's ability to lead in advanced nuclear energy is directly tied to our capacity to fuel it here at home,' said Toby Neugebauer, Co-Founder and CEO, Fermi America. 'This decision helps ensure that America's next generation of nuclear reactors will be powered by American innovation, technology, and resolve.' 'This collaboration represents a decisive step toward securing the nuclear fuel needed for the next wave of advanced reactors,' said Mesut Uzman, Chief Nuclear Construction Officer, Fermi America. 'It reinforces our mission to build the most advanced, resilient, and secure private grid in the world.' 'Advanced reactors cannot be built without HALEU, and our Quantum Enrichment™ technology is designed to deliver it with speed, precision, and environmental responsibility,' said Paul Mann, Chairman and CEO, ASP Isotopes Inc. 'Partnering with Fermi America gives us the platform and location to play a central role in the emerging Western HALEU market.' 'Energy security is national security,' said Rick Perry, Co-Founder of Fermi America and former U.S. Secretary of Energy. 'This project will help America control its own destiny in nuclear power, create jobs here in Texas, and send a clear message that the United States intends to lead – not follow – in the race for advanced, carbon-free energy.' According to the U.S. Department of Energy, U.S. HALEU demand could exceed 50 metric tons annually by 2035, with similar needs emerging in Europe and Asia. The proposed project would help meet this demand, supporting the clean energy transition while enhancing energy security. For media inquiries, please contact: Lexi Swearingen [email protected] About Fermi America Fermi America is pioneering the development of next-generation electric grids that deliver highly redundant power at gigawatt scale, essential for enabling next-generation artificial intelligence. Co-founded by former U.S. Energy Secretary Rick Perry, Fermi America's behind-the-meter HyperGrid campus 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. About the Texas Tech University System Established in 1996, the Texas Tech University System is one of the top public university systems in the nation, consisting of five universities – Texas Tech University, Texas Tech University Health Sciences Center, Angelo State University, Texas Tech University Health Sciences Center El Paso and Midwestern State University. Headquartered in Lubbock, Texas, the TTU System is a more than $3 billion enterprise focused on advancing higher education, health care, research and outreach with approximately 21,000 employees and 64,000 students, more than 400,000 alums, a statewide economic impact of $19.2 billion and an endowment valued at $3 billion. In its short history, the TTU System has grown tremendously and is nationally acclaimed, operating at 20 academic locations in 16 cities (15 in Texas, 1 international). In addition, the TTU System is one of only nine in the nation to offer programs for undergraduate, medical, law, nursing, pharmacy, dental and veterinary education, among other academic areas. About ASP Isotopes Inc. ASP Isotopes Inc. (NASDAQ: ASPI) is an advanced materials company dedicated to the production of enriched isotopes for use in multiple industries, including nuclear energy, medicine, semiconductors, and quantum computing. Through its subsidiary Quantum Leap Energy, ASPI is developing Quantum Enrichment™ technology to produce HALEU fuel and other critical isotopes at lower cost, faster, and with no radioactive waste. Forward-Looking Statements This press release may contain 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our strategy, future operations, financial position, prospects, plans and objectives of management. In some cases, you can identify forward-looking statements because they contain words such as 'may,' 'will,' 'will be,' 'will likely result,' 'should,' 'expects,' 'plans,' 'anticipates,' 'could,' 'would,' 'foresees,' 'intends,' 'target,' 'projects,' 'contemplates,' 'believes,' 'estimates,' 'predicts,' 'potential,' 'outlook,' or 'continue' or the negative of these words or other similar terms or expressions. These forward-looking statements are not guarantees of future performance, but are based on management's current expectations, assumptions, and beliefs concerning future developments and their potential effect on us, which are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict. Our expectations expressed or implied in these forward-looking statements may not turn out to be correct. Our results could be materially different from our expectations because of various risks. View original content to download multimedia: SOURCE Fermi America
Business Upturn
2 days ago
- Business
- Business Upturn
ASP Isotopes Inc. and its Subsidiary, Quantum Leap Energy LLC, enter into a Memorandum of Understanding with Fermi America Regarding a Joint Venture to Collaborate on the Research, Development and Construction of an Advanced Nuclear Fuel Research and Production Facility at the Planned 11GW HyperGrid Campus in Carson County, Texas
– Fermi America is a private U.S. developer of the planned HyperGrid campus near Amarillo, Texas, which is leased from Texas Tech University and is expected to be the world's largest hybrid energy and data infrastructure campus providing 11GW of power. – Fermi America was co-founded by Rick Perry, the former U.S. Energy Secretary and former Texas Governor. – MOU contemplates the formation of a joint venture between Quantum Leap Energy LLC ('QLE') and Fermi America for the development of a HALEU enrichment research and commercial production facility (the 'TX JV HALEU Project'). – In addition, the MOU also contemplates a lease at the planned HyperGrid campus for ASP Isotopes Inc. ('ASPI') to construct a commercial production facility for stable isotopes and advanced materials (excluding advanced nuclear fuels) (the 'ASPI TX Project'), such as radiopharmaceuticals, electronic gases, and other critical materials that will enable global megatrends of the future, such as quantum computing and nuclear medicine. – Fermi America is expected to be responsible for obtaining all licenses, permits, governmental and regulatory approvals, and other required consents for the JV HALEU Project. – The property leased by Fermi America from the Texas Tech University System for the HyperGrid Project lies adjacent to the DOE-operated Pantex Plant, offering unique proximity to a federally hardened and environmentally characterized site. The site is pre-qualified for nuclear deployment under DOE and NRC precedent studies and is governed by sovereign institutional control held by the Texas Tech University System, as lessor. It is contemplated in the MOU that both the TX JV HALEU Project and the ASPI TX Project will be constructed at, and will operate from, the HyperGrid Project in Amarillo, Texas. WASHINGTON and DALLAS, Aug. 15, 2025 (GLOBE NEWSWIRE) — ASP Isotopes Inc. NASDAQ: ASPI ('ASPI' or the 'Company'), an advanced materials company dedicated to the development of technology and processes for the production of isotopes for use in multiple industries, today announced that the Company and its subsidiary, Quantum Leap Energy LLC ('QLE' or 'Quantum Leap Energy'), an advanced materials company focused on the development of technology and processes for the production of advanced nuclear fuels, have entered into a Joint Venture Memorandum of Understanding (MOU) with Fermi LLC ('Fermi America'), regarding a joint venture pursuant to which the parties intend to collaborate on the research, development and ultimately the commercial production of advanced nuclear fuels on the planned HyperGrid Campus in Carson County, Texas. The non-binding MOU contemplates QLE and Fermi America entering into definitive agreements pursuant to which the parties will form a new entity in Texas as a joint venture for the research and development, and then the construction, of an advanced nuclear fuel enrichment facility capable of producing large quantities of High Assay Low Enriched Uranium (HALEU) for small modular reactors. It is anticipated that the advanced nuclear fuel facility will provide for the conversion and deconversion of uranium products, as well as the fabrication of fuel assemblies. In addition, the MOU contemplates ASPI entering into a separate lease for the development and construction of a 100% ASPI-owned enrichment research and commercial production facility for stable isotopes and advanced materials (excluding advanced nuclear fuels), which may include critical materials, such as Silicon-28, Germanium-70, Ytterbium-176, Nickel-64, Xenon-129, Zinc-68 and Chlorine-37. The property leased by Fermi America from the from the Texas Tech University System for the HyperGrid Campus is strategically located near the DOE-operated Pantex Plant near Amarillo, Texas, offering unique proximity to a federally hardened and environmentally characterized site. The site is pre-qualified for nuclear deployment under DOE and NRC precedent studies and is governed by sovereign institutional control held by Texas Tech University, as lessor. The HyperGrid Campus is expected to be the world's largest hybrid energy and data infrastructure campus and is anticipated to generate over 11 GW of electricity to supply data centers, as well as other industries. Pantex is the primary United States nuclear weapons assembly and disassembly facility that aims to maintain the safety, security and reliability of the U.S. nuclear weapons stockpile and is home to the site where most U.S. nuclear weapons are constructed and assembled. Fermi America, co-founded by former U.S. Energy Secretary and former Texas Governor Rick Perry, along with Former Quantum Private Equity Co-Founder, Toby Neugebauer, aims to meet the rapidly growing energy demands tied to AI infrastructure. Fermi America has submitted its Combined Operating License Application to build four Westinghouse AP1000 reactors as part of its HyperGrid Project. Fermi America plans to begin construction on the nuclear power complex in 2027 and aims to have the first reactor operational by 2032. Fermi America has also entered into an MOU with Hyundai E&C for the construction and engineering of Nuclear Reactors on the HyperGrid site. The Joint Venture MOU by and among ASPI, QLE and Fermi America was signed at a signing ceremony that took place in Dallas, Texas on August 14, 2025 and was attended by representatives of all parties, including Mr. Paul Mann, Chairman and CEO of ASPI, Dr. Ryno Pretorius, CEO of Quantum Leap Energy, and Mr. Toby Neugebauer, CEO of Fermi America. Toby Neugebauer, Co-Founder of Fermi America, said, ' Over the last three decades, our country has been asleep at the wheel, forcing reliance on foreign nations for critical technology materials such as next-generation semiconductors and nuclear energy. Fermi is determined to restore America as global leaders in the nuclear space, and our partnership with ASP Isotopes and Quantum Leap Energy is the natural next step.' Paul Mann, Chairman and CEO of ASP Isotopes and Chairman of Quantum Leap Energy, said ' During the last three years, ASP Isotopes has constructed three isotope enrichment facilities in South Africa to produce isotopes to enable faster semiconductors and next-generation cancer therapies. As a U.S. company, our goal has always been to bring these technologies to the United States to ensure that the United States has a domestic supply of these materials and reduce its reliance on imports from other countries. We are excited to enter into this joint venture with Fermi America to accelerate this goal. ' Ryno Pretorius, CEO of Quantum Leap Energy, commented that ' QLE is excited to enter the United States domestic production market as a provider of Nuclear Fuel Services to meet the rapidly growing demands of the Fermi America HyperGrid project, as well as existing and future partners in the United States. Our goal is to scale our technologies as quickly as possible to reduce the bottleneck on the nuclear fuel industry and unlock clean American nuclear energy that will provide consistent, base load power, not only for AI but millions of Americans. We believe Fermi America is another key strategic partner to help us develop and scale our nuclear fuel services and solutions in the United States with an initial base in Texas. ' During the next 30 years, global energy consumption will likely double(1). The advanced nuclear fuels required during the next 50 years are expected to differ significantly from those used in the last 50 years. AI demand requires high base load energy which will be partially supplied by large growth in the nuclear industry from Small Modular Reactors. Many small modular and advanced reactors in the future are expected to require HALEU. The Company has received interest from potential customers who collectively require over $37 billion of HALEU between the present day and 2037, at current market prices. ASPI has previously announced that it has entered into two supply agreements with TerraPower, LLC for HALEU from an initial uranium facility they expect to construct at Pelindaba in South Africa. The initial core supply agreement is intended to support the supply of the required first fuel cores for the initial loading of TerraPower's Natrium project in Wyoming during the 2027/28 timeframe. The long-term supply agreement is a 10-year supply agreement of up to a total of 150 metric tons of HALEU, commencing in 2028 through end of 2037. The construction of an advanced nuclear fuel facility in Texas, USA would become the second facility owned or co-owned by QLE for the production of HALEU. ASPI and QLE are also in discussions with the UK government regarding the construction of an advanced nuclear fuel facility in the UK. ASPI has also previously announced its intention to spin out QLE as a separate public company listed on the NASDAQ stock exchange in 4Q25. The signing of the Joint Venture MOU with Fermi America was facilitated by Ocean Wall Limited, who acted as adviser to both ASP Isotopes and Fermi America in establishing this strategic partnership. About ASP Isotopes Inc. ASP Isotopes Inc. is a development stage advanced materials company dedicated to the development of technology and processes to produce isotopes for use in multiple industries. The Company employs proprietary technology, the Aerodynamic Separation Process ('ASP technology'). The Company's initial focus is on producing and commercializing highly enriched isotopes for the healthcare and technology industries. The Company also plans to enrich isotopes for the nuclear energy sector using Quantum Enrichment technology that the Company is developing. The Company has isotope enrichment facilities in Pretoria, South Africa, dedicated to the enrichment of isotopes of elements with a low atomic mass (light isotopes). There is a growing demand for isotopes such as Silicon-28 for enabling quantum computing; Molybdenum-100, Molybdenum-98, Zinc-68, Ytterbium-176, and Nickel-64 for new, emerging healthcare applications, as well as Chlorine-37, Lithium-6, Lithium-7 and Uranium-235 for green energy applications. The ASP Technology (Aerodynamic Separation Process) is ideal for enriching low and heavy atomic mass molecules. For more information, please visit About Fermi America. Fermi America™ is pioneering the development of next-generation electric grids that deliver highly redundant power at gigawatt scale, required to create next-generation artificial intelligence. Co-founded by former U.S. Energy Secretary Rick Perry, Fermi combines cutting-edge technology with a deep bench of proven world-class multi-disciplinary leaders to create the world's largest, next-gen private grid. The behind-the-meter campus is expected to 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 hyperscaler artificial intelligence. Fermi America, LLC is a limited liability company organized under the laws of the State of Texas. Forward Looking Statements This press release contains 'forward-looking statements' within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations, and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy, and other future conditions. Forward-looking statements can be identified by words such as 'believes,' 'plans,' 'anticipates,' 'expects,' 'estimates,' 'projects,' 'will,' 'may,' 'might,' and words of a similar nature. Examples of forward-looking statements include, among others but are not limited to, statements relating to the formation of a joint venture with Fermi America, the commencement of research, development and production activities in the United States, the future of the company's enrichment technologies as applied to uranium enrichment, the outcome of the company's initiative to commence enrichment of uranium in South Africa and the company's discussions with nuclear regulators in South Africa and the UK, the outcome of the project contemplated with Necsa, the expected need or desire for HALEU by third parties, the outcome of the transactions contemplated by the definitive agreements with TerraPower, commencement of supply of isotopes to customers and the application of new technology for the enrichment of isotopes, the planned construction of additional isotope enrichment facilities, and statements we make regarding expected operating results, such as future revenues and prospects from the potential commercialization of isotopes, future performance under contracts, and our strategies for product development, engaging with potential customers, market position, and financial results. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict, many of which are outside our control. Our actual results, financial condition, and events may differ materially from those indicated in the forward-looking statements based upon a number of factors. Forward-looking statements are not a guarantee of future performance or developments. You are strongly cautioned that reliance on any forward-looking statements involves known and unknown risks and uncertainties. Therefore, you should not rely on any of these forward-looking statements. There are many important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements, including: the failure to obtain necessary regulatory approvals for the proposed acquisition of Renergen; disruption from the proposed acquisition of Renergen making it more difficult to maintain business and operational relationships; significant transaction costs and unknown liabilities related to the proposed acquisition of Renergen; litigation or regulatory actions related to the proposed acquisition of Renergen; the outcomes of various strategies and projects undertaken by the Company; the potential impact of laws or government regulations or policies in South Africa, the United Kingdom or elsewhere; our reliance on the efforts of third parties; our ability to complete the proposed the construction and commissioning of our enrichment plant(s) or to commercialize isotopes using the ASP technology or the Quantum Enrichment Process; our ability to obtain regulatory approvals for the production and distribution of isotopes; the financial terms of any current and future commercial arrangements; our ability to complete certain transactions and realize anticipated benefits from acquisitions, investments, collaborations and contracts; dependence on our Intellectual Property (IP) rights and certain IP rights of third parties; the competitive nature of our industry; and the factors disclosed in Part I, Item 1A. 'Risk Factors' of the company's Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and any amendments thereto and in the company's subsequent reports and filings with the U.S. Securities and Exchange Commission. Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise. No information in this press release should be interpreted as an indication of future success, revenues, results of operation, or stock price. All forward-looking statements herein are qualified by reference to the cautionary statements set forth herein and should not be relied upon. Contacts Jason Assad–Investor relations (ASP) Email: [email protected] Telephone: 561-709-3043 Lexi Swearingen-Media relations (Fermi America) Email: [email protected] Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash
Forbes
08-08-2025
- Business
- Forbes
Texas HyperGrid: Hope Or Hype?
The Texas power grid, long isolated from the rest of the country's interconnections to avoid federal oversight, has its share of long and near-term problems, such as a projected 8.3% shortfall by 2027 as demand increases, and limited weatherproofing. Though the Texas legislature and the Electric Reliability Council of Texas, the independent state grid operator, have taken important steps to more consistently inspect plants and transmission stations as well as plan for increased demand, challenges remain. For instance, severe storms this past May led to widespread outages. Resolving these issues is not easy. The path forward is slow and expensive, with no easy solutions or shortcuts in the offing. This web of problems is why Texas-based Fermi America's announcement of its HyperGrid project this past June led to an outburst of optimism. So is the Texas HyperGrid hope or hype? The answer is nuanced; the HyperGrid project has very significant potential, but it is not likely to become a substitute for the need to upgrade and modernize the grid overall – not in Texas, or in the other 49 states. What Is the HyperGrid? If successful, the HyperGrid aims to provide 11 GW of power from the 'world's largest data energy complex with nuclear, gas, solar' to help meet projected demand driven by the state's rapid construction of data centers used to power AI and other critical technologies. The HyperGrid aims to combine nuclear, natural gas, solar, grid-scale batteries, and conventional utility grid power at its Amarillo campus to engage with the frontiers of energy development and both supply and leverage AI. During his remarks at the launch announcement of the HyperGrid, Fermi America co-founder, former Texas Governor and former Energy Secretary Rick Perry cited the emerging technological race between the United States and China as motivating the project. The HyperGrid is a direct attempt to meet rising demand by combining new nuclear and gas capacity with renewables on one campus to power data centers. The hope is that by creating a mostly autonomous area of self-sufficient energy consumption and utilization, a model for the Texan grid reform can be propagated. Rather than attempt to upgrade the grid as a whole, a 'distributed generation grid model' of upgraded generation and new consumption can be layered on top of the existing grid. This has several immediate advantages. Notably, it allows for innovation, experimentation, and leading by example. Companies ancillary to energy utilities tend to like this model since it simplifies their corporate responsibilities and adds new capacity quickly. It is a model of delivery that easily allows additional decentralized forms of energy generation to be employed en masse, such as residential solar panels and other home-scale renewables. HyperGrid Roadblocks Yet, HyperGrid and the distributed generation grid model have serious challenges. On the whole, it is less efficient in the long term to employ at scale for an entire region, even if it is helpful for quickly adding capacity for specific projects. Furthermore, it can create problems with grid compatibility, uneven capacity, and desynchronization that ERCOT already struggles with. In response to Forbes' inquiry, a Fermi America spokesperson said in an email: According to the National Renewable Energy Laboratory, the current U.S. transmission system is likely to need to double or more in size by 2050. However, the country is headed in the wrong direction. A report from Americans for a Clean Energy Grid found that the rate at which new transmission lines are being added has slowed dramatically over the past decade, despite increases in transmission funding during the same period. With much of the budget allocated to reliability upgrades and the replacement of aging hardware, money is being invested in keeping old lines operational. At the same time, next-generation smart grid technology that is needed to address intermittency is often overlooked. Independent utilities, such as ERCOT, have acknowledged this issue and proposed a plan to upgrade a substantial portion of the state's transmission lines. It is a promising start for Texas and a necessary upgrade to integrate projects like the HyperGrid. The paradox is that the likely localized success of HyperGrid may dissuade utilities from necessary grid upgrades at scale, with U.S. utilities paying more at the end of the day or being unable to handle the load challenge that is coming up fast, ending up paying the pound a cure, rather than a penny of prevention. American Grid Reform ERCOT's efforts will set a nationwide precedent. After years of reform, ERCOT has drastically improved and is now one of the best-ranked utilities in the country. This means, thankfully, the paradox and challenges the HyperGrid creates are occurring in an area that is well-suited to test the project's approach. Coordinating between multiple levels of authority and navigating different jurisdictions will come with its challenges as well. According to the Niskanen Center and Clean Air Task Force, federal entities like the Department of Energy and the Federal Permitting Improvement Steering Council are not taking the lead in upgrading transmission infrastructure at sufficient speed, nor are they prioritizing transmission agendas or providing adequate support to inter-agency cooperation. Another major issue at present is the growing number of projects looking to connect to the grid that are stuck in interconnection queues, the testing and study phase before grid connection. The Lawrence Berkeley National Laboratory found last year that nearly 269.2 GW of combined production and storage capacity looking to connect to ERCOT is held up in these queues. One thing Secretary Perry is right about: Washington cannot take its eyes off the prize. The growing competition with the People's Republic of China in the energy sphere is a race that America needs to win. China unveiled a new national energy law at the beginning of 2025 to coordinate its many energy-centric efforts. Beijing has fully committed to revitalizing its nuclear industry to meet increasing energy demands in conventional areas as well as the rapidly growing AI sector. China is already a world leader in renewable technology production and clean energy, and the U.S. has ground to make up if it wants to keep up with China. That requires a modern grid. To advance grid infrastructure and compete globally, the Department of Energy published the Distributed Energy Resource Interconnection Roadmap this January, a plan to bring together smaller grids, modernize hardware, and improve access. The Trump Administration has issued executive orders aimed at promoting the development of American AI and plans to issue additional orders to streamline the grid connection process and provide federal land for new data centers. In concert, these moves can help bring together a national strategy for the electrical grid, but practical and efficient actions to follow through will be key to success. Energy demand across the country is expected to rise in the coming years, and the past two administrations have been adamant that the U.S. needs to be a leader in AI and other technological innovations. Revamping the energy transmission system will be crucial for maximizing American technology in the interest of competing with China abroad and ensuring energy access and security at home. However, projects like the HyperGrid in and of themselves are not the solution to America's grid woes. Policymakers cannot kick the can of responsibility for grid upgrades down the road or hope for a savior from the private sector. Only concerted, coordinated efforts that involve privately and publicly owned utilities and are aimed at nationwide upgrades for the AI-driven 21st century will rescue America's grid.
Yahoo
31-07-2025
- Business
- Yahoo
Fermi America and Hyundai sign MoU for nuclear-powered grid project
Fermi America, in collaboration with the Texas Tech University System, has signed a memorandum of understanding (MoU) with Hyundai Engineering & Construction (E&C) to build the nuclear component of the world's largest private power grid for next-generation AI. The two entities signed the MoU in Seoul, South Korea, outlining their terms to jointly design and execute the delivery of safe and clean nuclear power within the private grid project. The project will integrate with combined-cycle natural gas, solar power and battery storage alongside data centre infrastructure capable of delivering up to 11GW of power. The partners will jointly plan for a nuclear-based hybrid energy venture, which includes developing a comprehensive business package for each project phase, conducting feasibility studies and creating basic engineering designs (FEED) as well as executing engineering, procurement and construction projects. Fermi America co-founder Toby Neugebauer stated: "We couldn't be more pleased to partner with the team at Hyundai E&C to power the future of AI. America doesn't have time to practice – we need to work with proven partners like Hyundai, who have a successful track record of planning and building safe, clean, new nuclear energy. Welcome to Texas!" In June 2025, Fermi America submitted its combined operating licence application in the US for building AP1000 nuclear units, which has been accepted for review. With Hyundai E&C's involvement confirmed, construction on the complex will commence in 2026 with the first reactor operational by 2032. Hyundai E&C CEO Hanwoo Lee stated: "We have been impressed by the executive team Fermi America has assembled, bringing together seasoned leaders in their respective fields. "We are especially pleased to see familiar faces in nuclear leadership from one of the most successful recent new build projects, and we look forward to working together to bring this ambitious vision to life." The Emirates Nuclear Energy Company recently partnered Hyundai E&C to explore international opportunities in the nuclear energy sector. The two organisations formalised their collaboration by signing an MoU. "Fermi America and Hyundai sign MoU for nuclear-powered grid project" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
