Fermi (FRMI) said Monday that it signed two agreements with South Korea-based companies to accelerate its AP1000 nuclear reactor projects.

No financial details were disclosed.

The electric grid developer said it signed an agreement with Doosan Enerbility to start forging production of critical long-lead-time nuclear equipment for Westinghouse AP1000 reactor projects, following an earlier memorandum of understanding on developing large-scale commercial nuclear plants and small modular reactor technologies.

Fermi said it also signed a front-end engineering design contract with Hyundai Engineering & Construction for four AP1000 nuclear reactors for Project Matador in Texas, with an engineering, procurement, and construction deal expected to follow in early 2026.

Matador is Fermi's private grid campus project, which is currently under construction.

Shares of Fermi were up 2.4% in recent Monday trading.

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