· Context
Fermi's second-quarter 2026 reports describe on-site water lines and groundwater leases
Fermi's second-quarter 2026 shareholder letter (filed with the SEC August 13, 2026) said it had installed seven miles of water distribution lines "providing 2.5 million gallons per day" backed by a two-million-gallon storage tank. Its quarterly report on Form 10-Q (filed August 14, 2026) said a subsidiary entered six groundwater leases covering about 5,227 acres in Carson County in the first half of 2026. Neither document reports the status of the two wells, pipe and generator Fermi must dedicate to the City under the water supply agreement.[1][2]
Fermi America (Fermi, Inc.)
What the sources say
- ✓ Verified
Fermi Inc.: Fermi's second-quarter 2026 shareholder letter said it had installed seven miles of water distribution lines providing 2.5 million gallons per day to support closed-loop cooling systems that it said will use 80% less water than traditional methods, backed by a two-million-gallon storage tank. These are company statements.[1]
- ✓ Verified
Fermi's 10-Q for the quarter ended June 30, 2026 says Fermi Water, LLC entered six groundwater leases in the first half of 2026 covering about 5,227 acres in Carson County, separate from the Texas Tech land lease, each with a 30-year initial term and a variable royalty of $3 per 1,000 gallons produced above the minimum; no variable royalty payments had been made as of June 30, 2026.[2]
- Groundwater lease acres
- 5,227
- Royalty usd per 1000 gal
- $3