Atlas Energy Solutions Inc. (NYSE: AESI) announced on September 25, 2026, that it has entered into equipment purchase agreements and cost reimbursement agreements with a leading frontier AI lab. The agreements are intended to secure long-lead-time supporting equipment and incremental power generation capacity for specific data center projects.
Atlas Energy Solutions ProjectCo, LLC, an indirect wholly owned subsidiary of the company, executed two purchase commitments for an aggregate of 283 megawatts of Caterpillar natural gas generation equipment outside of its Global Framework Agreement with Caterpillar Inc. This Incremental Equipment Purchase is supported by a cost reimbursement agreement with the AI lab, which is also the intended off-taker for the ProjectCo Project.
In addition to the incremental power, Atlas executed a purchase agreement for 328 megawatts of generating capacity. This purchase is consistent with the company’s obligations under its Global Framework Agreement for 2027 deliveries.
The cost reimbursement agreements allocate the related equipment to the specific customer and facilitate near-term financing. The first agreement supports the purchase of balance-of-plant equipment, including emissions control systems, electrical distribution equipment, and battery energy storage systems. These systems are intended to support the deployment of Atlas’s existing generator orders under the Global Framework Agreement.
John Turner, President and Chief Executive Officer of Atlas, stated that the customer’s willingness to enter into cost reimbursement agreements is a sign of commitment to the projects as the company works toward the execution of long-term power purchase agreements.
