Fermi America Signs Landmark Nuclear Agreements with Hyundai E&C and Doosan Enerbility, Igniting U.S. Nuclear Renaissance
Fermi America (Nasdaq: FRMI) has signed new agreements with Hyundai Engineering & Construction and Doosan Enerbility to advance its flagship nuclear project in Texas. The announcement comes ahead of President Trump’s visit to Seoul and highlights a growing U.S.–South Korea energy alliance.
Under the deal, Hyundai E&C will begin engineering work for four AP1000 nuclear reactors at Project Matador in the Texas Panhandle. The site will combine nuclear, gas, solar, and battery storage to produce up to 11 gigawatts of clean power. When complete, it will be one of the world’s largest privately financed energy projects.
Doosan Enerbility will produce reactor pressure vessels and steam generators for the project. These components are among the most critical parts of any nuclear plant. The partnership ensures early access to essential equipment and reduces the risk of supply chain delays.
Fermi America’s CEO, Toby Neugebauer, said the collaboration marks a turning point for U.S. nuclear energy.
“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. Doosan Enerbility and Hyundai E&C have been waiting for an American company to stop power pointing 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 U.S. requires.”
Fermi also thanked Texas Governor Greg Abbott, Lieutenant Governor Dan Patrick, and Speaker Dustin Burrowsfor creating the Texas Advanced Nuclear Energy Office (TANEO). The state has allocated $350 million to help develop new nuclear technology and support private-sector projects like Project Matador.
The HyperGrid™ campus, located near the historic Pantex site, will deliver reliable power for advanced computing and artificial intelligence systems. The project combines U.S. innovation with proven international engineering to bring nuclear energy back to the forefront of American industry.
Investor and Market Reaction
The announcement triggered a wave of enthusiasm from both analysts and retail investors.
Mizuho, Stifel, and Rothschild initiated Buy ratings with price targets between $27 and $31. Cantor Fitzgerald rated the stock Overweight, calling Project Matador “a generational energy play.”
Investor boards also lit up with activity. On Stocktwits, posts described the stock as “one announcement away from a price explosion.” Another user wrote, “Buying pullbacks — this will be a $100 stock.”
Analysts and retail investors alike see Fermi America as a potential leader in the new era of U.S. nuclear energy. With global partners and strong state support, the company appears ready to move from planning to construction.
