TECfusions Secures Over $300 Million Loan Agreement to Accelerate Virginia Data Center

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Nov 18, 2024, 09:00 ET

New round of funding fuels rapid expansion of TECfusions' AI-ready data center infrastructure in Virginia.

TAMPA, Fla., Nov. 18, 2024 /PRNewswire/ -- TECfusions, a rapidly growing provider of advanced data center solutions, today announced that it has secured over $300 million to be used for the development and expansion of its Clarksville, Virginia site. This significant financial milestone, formalized on October 31, 2024, demonstrates the company's innovative approach to data center development and ability to turn demand into tangible results.

In response to urgent capacity needs from a key tenant, gradual funding began in January 2024 and has now been solidified in a formal loan agreement, which includes the cumulative monies invested earlier. To date, $160 million has been allocated towards construction, with the remaining funds earmarked for completing Phase I of the Clarksville facility.

The Clarksville data center is TECfusions' flagship facility, designed to meet the rapidly increasing demands of AI workloads with high-density compute power and one of the world's largest GPU deployments. The phased build-out, projected to achieve 37.5 megawatts (MW) upon the completion of Hall D construction, has already met an impressive development timeline resulting in significant expansion of essential infrastructure. The adaptive reuse model TECfusions employs accelerates site-readiness, maximizing speed to market by converting existing facilities into state-of-the-art data centers.

"Funding from our dedicated investor will enable TECfusions to accelerate the buildout of our Clarksville site with scalable capacity," said Simon Tusha, Founder and CTO of TECfusions. "Our Clarksville data center hosts one of the largest GPU clusters in the world, and we are proud to accelerate deployments for tenant commitments that sit the forefront of AI-ready infrastructure."

The formalized loan agreement spans a fifteen-year term, solidifying TECfusions' delivery commitments to meet Clarksville's ambitious growth targets with continued build-outs. This funding represents a significant step forward in TECfusions' strategy to build each project as an independently financed entity, ensuring financial sustainability across its entire portfolio.

"This agreement fully funds our Clarksville Phase I buildout and aligns perfectly with our long-term growth strategy, demonstrating the economic vitality of our approach and opening the doors for future expansion projects," said Mike Picchi, CFO of TECfusions. "With tenants that require immediate, scalable data center capacity, this funding enables us to meet that demand efficiently to ensure rapid deployment of capacity for today's digital world."

Funds will be strategically allocated across several key initiatives, including AI-ready infrastructure deployment, on-site sustainable power generation solutions, and site infrastructure development. This investment is expected to have a significant positive impact on the local community, creating numerous jobs in construction and operations while substantially expanding the region's digital infrastructure and tax base.

About TECfusions
TECfusions is a global data center operator dedicated to innovative, sustainable technology and energy-efficient solutions. With over thirty sites worldwide, we specialize in designing, building, and managing next-generation data centers for AI and HPC. Our adaptive reuse of industrial facilities enables rapid deployment and market readiness, delivering capacity within six months of signature. This approach substantially reduces carbon and environmental impacts, aligning with our core values of innovation, design thinking, and impactful sustainability. (www.tecfusions.net)

Media Contact
Melissa Farney
Marketing Director, TECfusions
[email protected]
407-417-6181

SOURCE TECfusions