Nautilus Data Technologies Secures $100 Million for Stockton I Data Center

Nautilus Data Technologies has announced the closing of a multi-draw, senior secured debt facility with Orion Energy Partners, L.P. for the commissioning of a 6.0MW colocation data center located in Stockton, California (Stockton I) and construction of additional data center projects in the Nautilus pipeline. Nautilus is a provider of data centers, using a sustainable water-based cooling process to achieve power usage effectiveness and improvements in environmental performance.

Based in Pleasanton, California, using its patented TRUE (Total Resource Usage Effectiveness) cooling system, Nautilus integrates maritime and industrial cooling technologies with data center infrastructure to increase the energy efficiency of its operations, reduce the overall cost of computing, and decrease greenhouse gases and air pollution, while consuming no water, producing no waste water, and using no water treatment chemicals or potent greenhouse gas and ozone depleting refrigerants.

The Stockton I data center will commission in 4Q2020, using naturally cold water in an open and closed loop system of heat exchangers to cool client environments more efficiently when compared to the conventional HVAC solutions found in air-cooled data centers. Nautilus says the floating data center can deliver up to 5.0x more power density per rack with a smaller footprint, enabling the widespread availability and affordability of high-performance computing for artificial intelligence, machine learning, healthcare, gaming, and other compute-intensive applications, accelerating the substantial economic, social and environmental benefits they provide.

“Orion Energy is providing Nautilus with flexible capital to complete the commissioning of our Stockton I data center, strategically located in Northern California at the Port of Stockton” said Nautilus CEO James L. Connaughton. “This capital will allow Nautilus to showcase and then rapidly expand our transformative approach to meeting the urgent business and community demand for higher performing and more sustainable data center solutions.”

“Nautilus is well positioned to set the standard for providing sustainable and reliable data center services to its customers, who have selected Nautilus for its significant commercial and environmental benefits,” said Gerrit Nicholas, Managing Partner at Orion Energy. “Orion Energy is eager to partner with the Nautilus team and its existing shareholders to accelerate the deployment of additional environmentally innovative data centers in this high growth sector.”

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