Part 6/13:

Fermy announced plans to raise up to $4 billion to finance Project Matador, primarily through project-specific financing. Their strategy hinges on pre-sell electricity to data centers that would be built on the site, providing confidence to lenders. In November 2025, Fermy boasted of an initial construction agreement for $150 million with a prospective customer. However, by December, that customer had abruptly canceled, leaving Fermy without confirmed funding or committed clients.