Aligned Energy Captures $495 Million To Drive Data Center Expansion

Data center provider Aligned Energy secures nearly $500 million from investors including Goldman Sachs Bank to boost expansion efforts.

Data center provider Aligned Energy has secured a whopping $495 million from investors in a move to support its expanding data center portfolio and speed to market.

“Our new credit facility underpins Aligned’s commitment to delivering critical capacity in record time,” said Aligned Energy CEO Andrew Schaap in a statement. “By achieving the next level of speed to market and scale, Aligned is meeting our customers’ growing demand for adaptable and highly efficient data center infrastructure solutions delivered where they need them, when they need them.”

The Dallas-based company Tuesday completed the $495 million secured credit facility with investors including Goldman Sachs Bank USA and CPPIB Credit Investments.

[Related: Equinix’s Massive $1 Billion Hyper-Scale Data Center Venture Begins]

The new funding will provide the data center specialist with flexible, low-cost capital to support growth initiatives including expanding its portfolio and solutions at scale inside its current U.S. data centers located in Ashburn, Va.; Dallas; Phoenix; and Salt Lake City.

Aligned Energy provides co-location, high-reliability connections and build-to-scale data center solutions, while specializing in capacity management needs and innovation such as cooling technology. The company said its intelligent infrastructure enables customers to scale up without disruption while maintaining top-notch Power Usage Effectiveness (PUE).

The company recently completed phase one of its hyper-scale data center campus in Ashburn with an initial 60 MW capacity.

Data center providers have been building and expanding their data center footprint over the past few years as demand for low latency, high availability and greater capacity is skyrocketing as 5G technology quickly approaches.

Many providers are specifically investing heavily in hyper-scale data centers, which are massive facilities containing tens of thousands of servers and other IT equipment.

The largest cloud and co-location providers in the world have been investing billions every quarter this year in building new data centers or expanding existing centers, led by Amazon, Microsoft and Google. In the second quarter of 2019 alone, operators spent $28 billion on building, expanding and equipping these huge data centers.