Fermi America Nominates Larry Kellerman to Board of Directors
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 03 2026
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Should l Buy FRMI?
Toby Neugebauer, co-founder and largest shareholder of Fermi America, announced that he has nominated Larry Kellerman to join the Fermi Board of Directors. Kellerman, who serves as Chief Power Officer at Fermi America, is the architect of the Company's 17-gigawatt powered data center campus in Amarillo, Texas.
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Analyst Views on FRMI
Wall Street analysts forecast FRMI stock price to rise
8 Analyst Rating
8 Buy
0 Hold
0 Sell
Strong Buy
Current: 5.370
Low
20.00
Averages
30.25
High
37.00
Current: 5.370
Low
20.00
Averages
30.25
High
37.00
About FRMI
Fermi Inc. is an advanced energy and hyperscale development company purpose-built for the artificial intelligence (AI) era. The Company is engaged in the development of electric grids that deliver highly redundant power at a gigawatt scale, required to create artificial intelligence. Situated on a 5,236-acre site in Amarillo, Texas, Project Matador is secured by the Company pursuant to the Lease on land owned by the Texas Tech University System. Project Matador is designed to accommodate up to 6.0 gigawatt (GW) of nuclear capacity via 4.0 GW of bifurcated Westinghouse Reactors and 2.0 GW of small nuclear reactor (SMRs). Its HyperRedundant site is strategically located adjacent to natural gas fields in the United States that is within a high-radiance solar corridor, well-positioned for advanced nuclear development and supportive of multiple energy pathways including near-term natural gas power development.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Former CEO Attempts to Control Board Amidst Company Valuation Crisis
- Stock Price Decline: During former CEO Toby Neugebauer's tenure, Fermi's stock price plummeted over 80%, reflecting not only poor performance under his leadership but also severely damaging investor confidence and impacting the company's market valuation.
- Board Decision: The Fermi Board unanimously decided to cancel the special shareholder meeting called by Neugebauer, indicating that the Board will continue to take actions in the best interests of all shareholders to prevent him from taking control and forcing a sale at a depressed valuation.
- Shareholder Opposition: Fermi believes Neugebauer's proposals are not in the best interests of shareholders and recommends that they do not support his request for a second special meeting, demonstrating the company's firm commitment to maintaining its independence.
- Strategic Development: Fermi is advancing its 'Fermi 2.0' strategic plan, and despite facing internal challenges, the company remains committed to enhancing shareholder value through innovation and operational excellence, showcasing confidence in future growth.
See More
Fermi Board Confirms Cancellation of Special Meeting
- Controversial Actions by Former CEO: Former CEO Toby Neugebauer attempted to convene a special shareholder meeting to take control of the board after his removal, resulting in a stock price decline of over 80% during his tenure, which the board views as a threat to shareholder interests.
- Board Decision Transparency: The Fermi Board unanimously confirmed the cancellation of the special meeting called by Neugebauer, emphasizing its invalidity to protect the best interests of all shareholders and prevent further value destruction.
- Market Valuation Reflection: The company believes that its current market valuation does not reflect its intrinsic value, with the board planning to enhance shareholder value through the successful execution of the Fermi 2.0 strategy, demonstrating confidence in future growth.
- Positive Project Progress: Significant advancements have been made in the construction and regulatory milestones of the Matador project, positioning Fermi towards innovation and operational excellence, aiming for greater market competitiveness in the future.
See More
Fermi Inc. to Release Q1 2026 Financial Results on May 14
- Earnings Release Schedule: Fermi Inc. plans to announce its Q1 2026 financial results on May 14 at 7 a.m. ET, which is expected to provide critical financial metrics that could influence investor confidence and stock performance.
- Conference Call Details: Following the earnings release, Fermi will host a conference call at 9 a.m. ET, where investors can dial (888) 506-0062 or +1 973-528-0011 internationally to participate, ensuring they receive timely updates on the company's performance.
- Webcast Availability: The conference call will also be available via webcast, accessible through the Investor Relations Events & Presentations page on Fermi's website, enhancing transparency and potentially increasing market visibility and investor engagement.
- Project Background: Fermi America™ is developing a 17 GW next-generation private grid that integrates various energy sources to support AI and advanced computing, showcasing the company's strategic positioning in the energy and technology sectors, which may lay the groundwork for future growth.
See More
Fermi Inc. to Release Q1 2026 Financial Results
- Earnings Release Schedule: Fermi Inc. plans to announce its Q1 2026 financial results on May 14, 2026, at 7 a.m. ET, followed by a conference call at 9 a.m. ET, demonstrating the company's commitment to financial transparency and investor communication.
- Conference Call Participation: Investors can join the call by dialing (888) 506-0062 in the U.S. or +1 973-528-0011 internationally, with a reminder to call 15 minutes prior to the start time to obtain conference code 791289, reflecting the company's focus on investor engagement.
- Webcast Availability: The conference call will also be available via a listen-only webcast, accessible through the Investor Relations Events & Presentations page on Fermi's website, enhancing information accessibility and transparency for stakeholders.
- Project Background: Fermi America™ is developing a 17 GW next-generation private grid that integrates various energy sources to support future intelligence and AI computing, showcasing the company's strategic foresight in the energy and technology sectors.
See More
Fermi Rejects Neugebauer's Invalid Shareholder Meeting Request
- Invalid Meeting Request: Fermi has rejected former CEO Neugebauer's request to call a special shareholder meeting, deeming it invalid, which underscores the company's firm opposition to his attempts to gain control and aims to maintain board stability and governance structure.
- Support for Fermi 2.0: The company reports significant shareholder backing for its Fermi 2.0 strategic plan, opposing Neugebauer's control efforts, indicating that the company has gained investor trust during its transformation, which could enhance future market performance.
- Poor Stock Performance: Under Neugebauer's leadership, Fermi's stock price declined over 80%, reflecting inadequate management capabilities, and the board's decisions are aimed at protecting shareholder interests and preventing further losses from improper control.
- Strategic Plan Advancement: Fermi emphasizes that Neugebauer's proposals are not in the best interests of shareholders and could disrupt the successful implementation of Fermi 2.0, urging shareholders to support the current management to ensure the company's long-term growth and market competitiveness.
See More
Fermi Rejects Neugebauer's Invalid Shareholder Meeting Request
- Invalid Meeting Request: Fermi has rejected former CEO Neugebauer's request to call a special shareholder meeting, deeming it invalid and indicative of his self-serving motives to gain control, urging shareholders not to support such actions.
- Support for Fermi 2.0: The company has received significant backing from shareholders for its Fermi 2.0 initiative, demonstrating a firm rejection of Neugebauer's attempts to seize control and reflecting confidence in the company's strategic direction.
- Poor Stock Performance: Under Neugebauer's leadership, Fermi's stock price declined by over 80%, leading to his termination, which raises concerns about his management capabilities and emphasizes the need for shareholders to focus on long-term value rather than short-term control disputes.
- Strategic Plan Advancement: Fermi stresses that current shareholder actions are detrimental to its strategic plans, particularly the advancement of Project Matador, and calls on shareholders to support the board to ensure the company's continued growth.
See More
Former CEO Attempts to Control Board Amidst Company Valuation Crisis
- Stock Price Decline: During former CEO Toby Neugebauer's tenure, Fermi's stock price plummeted over 80%, reflecting not only poor performance under his leadership but also severely damaging investor confidence and impacting the company's market valuation.
- Board Decision: The Fermi Board unanimously decided to cancel the special shareholder meeting called by Neugebauer, indicating that the Board will continue to take actions in the best interests of all shareholders to prevent him from taking control and forcing a sale at a depressed valuation.
- Shareholder Opposition: Fermi believes Neugebauer's proposals are not in the best interests of shareholders and recommends that they do not support his request for a second special meeting, demonstrating the company's firm commitment to maintaining its independence.
- Strategic Development: Fermi is advancing its 'Fermi 2.0' strategic plan, and despite facing internal challenges, the company remains committed to enhancing shareholder value through innovation and operational excellence, showcasing confidence in future growth.
See More
Fermi Board Confirms Cancellation of Special Meeting
- Controversial Actions by Former CEO: Former CEO Toby Neugebauer attempted to convene a special shareholder meeting to take control of the board after his removal, resulting in a stock price decline of over 80% during his tenure, which the board views as a threat to shareholder interests.
- Board Decision Transparency: The Fermi Board unanimously confirmed the cancellation of the special meeting called by Neugebauer, emphasizing its invalidity to protect the best interests of all shareholders and prevent further value destruction.
- Market Valuation Reflection: The company believes that its current market valuation does not reflect its intrinsic value, with the board planning to enhance shareholder value through the successful execution of the Fermi 2.0 strategy, demonstrating confidence in future growth.
- Positive Project Progress: Significant advancements have been made in the construction and regulatory milestones of the Matador project, positioning Fermi towards innovation and operational excellence, aiming for greater market competitiveness in the future.
See More
Fermi Inc. to Release Q1 2026 Financial Results on May 14
- Earnings Release Schedule: Fermi Inc. plans to announce its Q1 2026 financial results on May 14 at 7 a.m. ET, which is expected to provide critical financial metrics that could influence investor confidence and stock performance.
- Conference Call Details: Following the earnings release, Fermi will host a conference call at 9 a.m. ET, where investors can dial (888) 506-0062 or +1 973-528-0011 internationally to participate, ensuring they receive timely updates on the company's performance.
- Webcast Availability: The conference call will also be available via webcast, accessible through the Investor Relations Events & Presentations page on Fermi's website, enhancing transparency and potentially increasing market visibility and investor engagement.
- Project Background: Fermi America™ is developing a 17 GW next-generation private grid that integrates various energy sources to support AI and advanced computing, showcasing the company's strategic positioning in the energy and technology sectors, which may lay the groundwork for future growth.
See More
Fermi Inc. to Release Q1 2026 Financial Results
- Earnings Release Schedule: Fermi Inc. plans to announce its Q1 2026 financial results on May 14, 2026, at 7 a.m. ET, followed by a conference call at 9 a.m. ET, demonstrating the company's commitment to financial transparency and investor communication.
- Conference Call Participation: Investors can join the call by dialing (888) 506-0062 in the U.S. or +1 973-528-0011 internationally, with a reminder to call 15 minutes prior to the start time to obtain conference code 791289, reflecting the company's focus on investor engagement.
- Webcast Availability: The conference call will also be available via a listen-only webcast, accessible through the Investor Relations Events & Presentations page on Fermi's website, enhancing information accessibility and transparency for stakeholders.
- Project Background: Fermi America™ is developing a 17 GW next-generation private grid that integrates various energy sources to support future intelligence and AI computing, showcasing the company's strategic foresight in the energy and technology sectors.
See More
Fermi Rejects Neugebauer's Invalid Shareholder Meeting Request
- Invalid Meeting Request: Fermi has rejected former CEO Neugebauer's request to call a special shareholder meeting, deeming it invalid, which underscores the company's firm opposition to his attempts to gain control and aims to maintain board stability and governance structure.
- Support for Fermi 2.0: The company reports significant shareholder backing for its Fermi 2.0 strategic plan, opposing Neugebauer's control efforts, indicating that the company has gained investor trust during its transformation, which could enhance future market performance.
- Poor Stock Performance: Under Neugebauer's leadership, Fermi's stock price declined over 80%, reflecting inadequate management capabilities, and the board's decisions are aimed at protecting shareholder interests and preventing further losses from improper control.
- Strategic Plan Advancement: Fermi emphasizes that Neugebauer's proposals are not in the best interests of shareholders and could disrupt the successful implementation of Fermi 2.0, urging shareholders to support the current management to ensure the company's long-term growth and market competitiveness.
See More
Fermi Rejects Neugebauer's Invalid Shareholder Meeting Request
- Invalid Meeting Request: Fermi has rejected former CEO Neugebauer's request to call a special shareholder meeting, deeming it invalid and indicative of his self-serving motives to gain control, urging shareholders not to support such actions.
- Support for Fermi 2.0: The company has received significant backing from shareholders for its Fermi 2.0 initiative, demonstrating a firm rejection of Neugebauer's attempts to seize control and reflecting confidence in the company's strategic direction.
- Poor Stock Performance: Under Neugebauer's leadership, Fermi's stock price declined by over 80%, leading to his termination, which raises concerns about his management capabilities and emphasizes the need for shareholders to focus on long-term value rather than short-term control disputes.
- Strategic Plan Advancement: Fermi stresses that current shareholder actions are detrimental to its strategic plans, particularly the advancement of Project Matador, and calls on shareholders to support the board to ensure the company's continued growth.
See More
