Fermi Inc. Announces “Fermi 2.0” Strategic Overhaul, Major Leadership Changes, and New Headquarters

Key Highlights:

• Transition to “Fermi 2.0” signals the company’s evolution from a start-up to a scaled, mature enterprise.
• Major leadership changes: New Board Chairman, CEO departure, CFO transition, and new Board appointments.
• Creation of an “Office of the CEO” with dual Co-Presidents to oversee operations during the CEO search.
• Initiation of a CEO search process through Heidrick & Struggles.
• Establishment of new corporate headquarters in Dallas and expanded presence in Amarillo, Texas.
• Continued commitment to Project Matador, Texas Tech University System (TTUS) partnership, and binding agreements with initial client-tenants.
• Emphasis on attracting strategic investors, including client-tenants and sovereign funds.

In-Depth Article:

Dallas, Texas – April 20, 2026 – Fermi Inc. (“Fermi” or the “Company”) has unveiled a sweeping new phase of its corporate strategy, termed “Fermi 2.0,” marking its deliberate transition from a high-growth start-up to an established, scalable enterprise. This evolution is accompanied by a series of significant leadership changes, new governance structures, and a physical expansion into new office locations, all of which are likely to attract considerable investor attention and could impact share value.

Strategic Direction: The “Fermi 2.0” Initiative

The “Fermi 2.0” initiative is a comprehensive progression of Fermi’s strategic direction, governance, and operating platform. The company is building on its rapid progress—particularly with Project Matador, its flagship Texas-based next-generation energy campus—by deepening academic and community partnerships, notably with the Texas Tech University System (TTUS), enhancing client and tenant experiences, investing in talent and technology, and strengthening governance.

• Fermi plans to memorialize binding commitments for its first set of client-tenants and attract strategic investors, including client-tenants, sovereign wealth funds, and other parties that could be immediately accretive to shareholders.
• The company will continue its rapid construction and development pace, known as “FermiSpeed,” particularly in its nuclear buildout, with Project Matador expected to become one of the nation’s largest clean energy and AI hyperscale hubs.

Major Leadership Changes: Board and Executive Transitions

• Marius Haas has been appointed Chairman of the Board, effective immediately. Haas, a founding partner of BayPine and former President and Chief Commercial Officer at Dell Technologies, brings deep experience in digital transformation and public company governance.
• Toby Neugebauer, Fermi’s co-founder, has exited the CEO position but will remain on the Board.
• Miles Everson has resigned as CFO and been appointed as a Board Director, utilizing director designation rights of the Melissa A. Neugebauer 2020 Trust. The company is in advanced negotiations with a candidate to serve as Interim CFO, with further details expected imminently.
• Jeffrey S. Stein has been newly elected to the Board, bringing extensive energy sector and restructuring experience, including prior directorships at Sunnova Energy, Rite Aid, and Dynegy.

Creation of the “Office of the CEO”

To ensure operational continuity during the CEO transition, Fermi’s Board has created an “Office of the CEO” led jointly by Jacobo Ortiz Blanes (former COO and real estate leader) and Anna Bofa (technology industry veteran and former Board Advisor). Both are named Co-Presidents and will jointly oversee day-to-day operations, reporting to Chairman Haas. The search for a permanent CEO is being conducted by Heidrick & Struggles, with Board members Haas, Lee McIntire, and Cordel Robbin-Coker forming the search committee.

Commitment to Project Matador and Stakeholder Partnerships

Fermi reaffirmed its ongoing commitment to Project Matador, a multi-gigawatt private “HyperGrid” campus that aims to integrate natural gas, nuclear, solar, and battery energy storage to power next-generation artificial intelligence applications. TTUS Chancellor Brandon Creighton reiterated the university’s support and disclosed ongoing negotiations to extend certain project milestones in the lease agreement, reflecting a collaborative approach to the next phase of Project Matador’s buildout.

Expansion into New Corporate Offices

Further underscoring its scale-up, Fermi will establish a new corporate headquarters in Dallas, Texas, and a corporate office presence at the Project Matador site in Amarillo. The Dallas HQ is expected to position Fermi near world-class talent and stakeholders, while the Amarillo office will provide on-the-ground leadership for the ambitious project.

Biographies of New Leaders

• Marius Haas: Founding Partner at BayPine, former President/CCO at Dell Technologies, and seasoned public company director.
• Jacobo Ortiz Blanes: Former COO, specialist in large-scale real estate management, founder of Las Brisas Property Management—the largest real estate services firm in Puerto Rico and the Caribbean.
• Anna Bofa: Early team member at Google, Dropbox, Pinterest, and former Global Head of Product Programs at Meta. Co-founder of Crate AI, with a deep background in tech partnerships and business scaling.
• Jeffrey S. Stein: Co-Founder and Managing Partner of Breakpoint Advisory Partners LLC, with a track record in corporate advisory, energy, and restructuring.

Potential Implications for Investors:

• The leadership overhaul, especially the CEO transition and creation of an “Office of the CEO,” introduces near-term uncertainty but is framed as a move toward stronger, more scalable governance.
• The binding of initial client-tenants and pursuit of strategic investors could unlock new revenue streams and provide validation for Fermi’s business model.
• The ongoing commitment to Project Matador, an ambitious energy and AI infrastructure project, and the extension of milestones with TTUS, highlight Fermi’s intent to be a transformative player in U.S. energy and technology.
• The Dallas HQ and Amarillo office represent a shift toward operational maturity and may facilitate improved stakeholder engagement and talent acquisition.
• These changes are likely to be material and price sensitive, as they could affect investor confidence, growth trajectory, and operational execution in both the near and medium term.

About Fermi America™

Fermi America™ (NASDAQ & LSE: FRMI) is pioneering the development of next-generation private electric grids at gigawatt scale to power artificial intelligence infrastructure. The company was co-founded by former U.S. Energy Secretary Rick Perry and Toby Neugebauer, and is building what is expected to be the world’s largest 17 GW HyperGrid campus at Project Matador.

For further information, investors may contact Rodrigo Acuna at [email protected]. Media inquiries should be directed to [email protected].

Disclaimer: The information contained in this article is based on Fermi Inc.’s public filings and press releases as of April 20, 2026. This is not investment advice. Investors should perform their own due diligence and consult their financial advisors before making any investment decisions. The article may contain forward-looking statements that involve risks and uncertainties. Actual results may differ materially from those anticipated.

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