NEW YORK--(BUSINESS WIRE)--Nautilus Data Technologies, Inc. (“Nautilus”) announces the closing of a multi-draw, senior secured debt facility with Orion Energy Partners, L.P. (“Orion Energy”) 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 highly efficient data centers, using a sustainable water-based cooling process to achieve industry leading power usage effectiveness (PUE) and significant improvements in environmental performance.
Based in Pleasanton, California, using its patented TRUE™ (“Total Resource Usage Effectiveness”) cooling system, Nautilus integrates proven 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. Importantly, Nautilus’ environmentally innovative solution 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.”
Wilson Sonsini Goodrich & Rosati acted as legal counsel to Nautilus and Marathon Capital, LLC, an independent investment banking firm focused on renewable power, sustainable technologies & infrastructure markets, acted as sole financial advisor to Nautilus.
Greenberg Traurig, LLP acted as legal counsel to Orion Energy.
About Nautilus Data Technologies
Nautilus Data Technologies has created the world’s most environmentally innovative water cooled data center design, setting a new standard for efficiency, sustainability and global scalability. Nautilus’ patented TRUE™ (“Total Resource Usage Effectiveness”) cooling system integrates proven maritime and industrial water cooling technologies with next generation data center infrastructure to mark a new era of performance for the data center industry. TRUE™ reduces computing cost, cuts power use, eliminates water consumption, produces no waste water, uses no harmful refrigerants, and lowers air pollution and greenhouse gas emissions. TRUE™ further enables the widespread availability 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.
For more information, visit www.NautilusDT.com.
About Orion Energy Partners
Orion Energy Partners is a private capital partner to lower/middle market energy infrastructure and related companies, primarily in North America, managing in excess of $2.0 billion of investable capital. We provide non-control and non-dilutive capital in flexible, senior secured loan structures as an alternative to equity investment and traditional loans. Our target investment sectors include downstream, renewable and alternative energy, power generation, midstream, asset-heavy services and other industrial energy opportunities. Orion Energy manages long-term, committed capital across multiple investment funds, allowing us to forge transformational relationships across a diverse group of companies and to be patient and supportive as these organizations execute on their business plans. We aim to have more than 50% of our capital partnerships support a transition to sustainable, environmentally innovative energy businesses and practices. Please visit www.OrionEnergyPartners.com to learn more about our capital partnerships.