Announces New $150M Securitization Financing and Investment in Green Expansion to Support Market Demand
Charlotte, N.C. – April 27, 2022 – Flexential, a leading provider of data center colocation, cloud and connectivity, today announced the company’s latest sustainable data center with the planned development of a new 18MW facility in the rapidly growing research and development hub of Raleigh, NC. The project forms a key milestone on the company’s strategic roadmap for continued national expansion of the FlexAnywhere™ platform to provide geo-diverse capacity serving both established and emerging data center markets.
The company also announced today an additional $150 million asset-backed securities (ABS) offering via private placements. The new securitization financing will be invested into Flexential’s highly-sustainable data center projects which will be developed to the company’s fifth generation energy- and water-efficient design. This latest financing and green investment comes hard on the heels of Flexential’s inaugural USD 2.1B securitization financing – the industry’s largest green data center ABS financing initiative to date.
Flexing the Platform into Raleigh, NC
The Research Triangle corridor, home to three major universities and a highly-skilled workforce, is taking on increasing importance as an innovation zone, offering attractive amenities coupled with lower costs of living and doing business. The new development initiative aligns closely to Flexential’s key objectives to provide scalable and flexible data center capacity in strategic edge markets to address customers’ hybrid requirements for the convergence of enterprise IT and SaaS platforms.
As a key step in the national platform and FlexAnywhere™ solutions development strategy, the new Gen 5-designed Raleigh data center will offer a total capacity of 18MW and 120,000 square feet of IT space at full buildout. An initial phase of 4.5MW is expected to be available for customers by Q3 of 2023.
“Flexential is committed to providing scalable, reliable data center options to flex with our customers’ broad range of capacity needs, with a keen focus on sustainability practices and environmental considerations,” said Ryan Mallory, Chief Operating Officer, Flexential. “This additional investment in our green data center infrastructure underpins our customers’ ability to scale their critical infrastructure at the heart of rapidly-growing markets, such as the 18-hour Raleigh-Durham-Chapel Hill metro area and foster sustainable growth.”
National FlexAnywhere™ Expansion
Raleigh joins recent data center developments in Atlanta, Dallas, Denver, Minneapolis, Nashville, and Portland as a key part of Flexential’s recent national platform expansion, under which it plans to add 33MW of new, sustainable data center development projects during 2022. The FlexAnywhere™ platform, built to address the need for rapid deployment of critical infrastructure, is anticipated to expand significantly to offer customers more than 220MW and 3 million square feet of capacity, across 19 markets, by year end 2022.
All new planned data center projects, including the new Raleigh data center development, will adhere to the company’s latest energy- and water-efficient designs, under Flexential’s Green Financing Framework, which target power usage efficiency (PUE) of 1.4 or below and zero water usage efficiency (WUE).
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