AUSTIN, Texas, Sept 25 –Atlas Energy Solutions Inc. (NYSE: AESI) (“Atlas”) today announced that two wholly owned, indirect subsidiaries of Atlas have executed separate cost reimbursement agreements with a leading frontier AI lab in conjunction with the execution of equipment purchase agreements to secure long-lead-time supporting equipment and incremental power generation equipment for specific data center projects. The cost reimbursement agreements allocate the related equipment to this specific customer and facilitate near-term financing.
The first cost reimbursement agreement supports the purchase of balance-of-plant equipment, including emissions control systems, electrical distribution equipment, battery energy storage systems, and other supporting infrastructure to support the deployment of Atlas’ existing generator orders under its previously announced Global Framework Agreement (“GFA”) with Caterpillar Inc.
The second cost reimbursement agreement supports an incremental 283 megawatts of purchase commitments for Caterpillar power generation equipment to facilitate the initial power ramp of a separate data center project. These generating capacity purchases are in addition to Atlas’s obligations under the GFA with Caterpillar.
Additionally, Atlas executed a purchase agreement for 328 megawatts of generating capacity, consistent with its obligations under the GFA for 2027 deliveries.
John Turner, President & CEO, commented, “As the need for power infrastructure continues to grow rapidly, de-risking the supply chain and the project timelines is of paramount importance to Atlas as we work with our customers to achieve their goals of ramping compute capacity. This customer’s willingness to enter into cost reimbursement agreements is a clear sign of commitment to these projects as we work together toward the execution of long-term power purchase agreements.”
