American Fusion (OTCQB: AMFN) is preparing detailed proposals for at least four new data center projects in Texas. The company announced the plans on October 22 from Fort Worth: the bids, based on its Texatron fusion technology, will be submitted to the individual project developers in the coming weeks.
The press release lists several other operational updates. The company has received a certificate of occupancy for its new headquarters, which will also house its research and assembly facility. It is also working to purchase land in North Texas, where it plans to build a permanent campus for research and testing. The deal could close by the end of October, subject to customary conditions for transactions of this kind.
On the financing side, American Fusion has received several proposals from established investment banks. It is reviewing and negotiating them without disclosing the terms, and aims to close a transaction in the coming weeks. The engagement of a new independent auditor is also in its final stage of review.
On the technical front, the company is preparing to resume bunker tests of the Texatron at Texas Tech University and to extend them to other sites. The company stresses that the device is still under development: further testing is needed to demonstrate its performance, fusion energy output and commercial feasibility.
The planned model is Power-as-a-Service: American Fusion would retain ownership of the plant and supply dedicated electricity to the customer. Choosing Texas has its logic: management cites intense data center development activity, growing electricity demand and an already established energy infrastructure as key factors. Data centers consume large amounts of power continuously, which opens up room for alternative generation sources.
For international readers, the case is an indicator of where part of private fusion capital is heading. The target is data center demand rather than the traditional power grid. The coming weeks will show whether the proposals lead to contracts and whether the deal with the banks gives the company the resources to build the campus. The results of the bunker tests at Texas Tech will remain the proving ground for any commercial commitment.
