EdgeCore Digital Infrastructure: Company Profile

Background

Overview

EdgeCore Digital Infrastructure is a privately held company specializing in the development, ownership, and operation of wholesale data centers. The company focuses on providing high-density, scalable data center solutions tailored to meet the needs of hyperscale customers, including the world's largest cloud, internet, and technology companies. EdgeCore's data centers are strategically located in key markets across North America, offering both ready-for-occupancy and build-to-suit facilities.

Mission and Vision

EdgeCore's mission is to deliver high-performance, sustainable, and scalable data center solutions that empower its customers to meet the growing demands of digital transformation and emerging technologies. The company's vision is to be a leading provider of data center infrastructure, recognized for its commitment to excellence, innovation, and customer satisfaction.

Primary Area of Focus

EdgeCore's primary focus is on developing large-scale, high-density data center campuses designed to support the complex requirements of hyperscale customers. This includes providing substantial power capacity, low-latency connectivity, and sustainable building practices to ensure operational efficiency and environmental responsibility.

Industry Significance

In the rapidly evolving data center industry, EdgeCore plays a pivotal role by addressing the increasing demand for high-density, scalable, and sustainable data center solutions. Its strategic expansions and partnerships position the company as a significant player in the North American market, contributing to the growth and development of digital infrastructure.

Key Strategic Focus

Core Objectives

• Expansion into Key Markets: Establishing a strong presence in critical data center markets, including Silicon Valley, Northern Virginia, Phoenix, and Reno, to meet the growing demand for hyperscale data center services.

• Sustainability Initiatives: Implementing sustainable building designs and operational practices to achieve certifications such as LEED and Energy Star, and to promote environmental responsibility.

• Customer-Centric Solutions: Providing flexible, scalable, and reliable data center solutions tailored to the specific needs of hyperscale customers, ensuring high performance and uptime.

Specific Areas of Specialization

• High-Density Data Centers: Designing and operating data centers capable of supporting substantial power loads and high-density computing requirements.

• Sustainable Infrastructure: Incorporating energy-efficient designs, renewable energy sources, and water conservation measures to minimize environmental impact.

• Strategic Partnerships: Collaborating with leading connectivity providers to offer diverse and resilient network options, enhancing service reliability and performance.

Key Technologies Utilized

• Energy-Efficient Cooling Systems: Employing closed-loop chilled water systems and other advanced cooling technologies to optimize energy consumption and reduce operational costs.

• Advanced Building Management Systems: Utilizing state-of-the-art monitoring and control systems to ensure optimal performance and rapid response to operational needs.

• Renewable Energy Integration: Integrating renewable energy sources into data center operations to support sustainability goals and reduce carbon footprint.

Primary Markets Targeted

• Hyperscale Cloud Providers: Offering large-scale data center solutions to major cloud service providers requiring extensive infrastructure.

• Internet and Technology Companies: Providing tailored data center services to companies in the internet and technology sectors with high-performance computing needs.

• Artificial Intelligence and Machine Learning Firms: Supporting companies developing AI and ML technologies that demand high-density, low-latency data center environments.

Financials and Funding

Funding History

EdgeCore has secured significant funding to support its rapid expansion and development initiatives. In November 2022, the company was acquired by Partners Group, a leading global private markets firm, which committed up to $1.2 billion to fund the acquisition and buildout of existing and future data center sites. Subsequently, in January 2024, EdgeCore completed a $1.9 billion debt financing transaction to fund scalable development on its data center campus in Mesa, Arizona. This financing was structured as a Green Loan, aligning with the company's commitment to sustainable business practices. In September 2024, EdgeCore secured an additional $1.9 billion capital investment to further fuel the rapid development of hyperscale data centers designed for density.

Total Funds Raised

As of September 2024, EdgeCore has raised a total of approximately $4.1 billion in funding, comprising the initial $1.2 billion from Partners Group, the $1.9 billion debt financing in January 2024, and the $1.9 billion equity investment in September 2024.

Notable Investors

• Partners Group: A global private markets firm that acquired EdgeCore in November 2022 and has been instrumental in providing substantial funding for the company's expansion.

Intended Utilization of Capital

The capital raised is allocated towards the development and expansion of data center campuses in key markets, including Silicon Valley, Northern Virginia, Phoenix, and Reno. The funds are also directed towards implementing sustainable building designs, enhancing operational capabilities, and establishing strategic partnerships to support the company's growth objectives.

Pipeline Development

Key Pipeline Candidates

• Silicon Valley Campus: A 72 MW data center campus in Santa Clara, California, designed to meet the high-density requirements of hyperscale customers. The campus is strategically located to provide low-latency connectivity to the Bay Area and is expected to be operational by early 2024.

• Mesa, Arizona Campus: A flagship data center campus in Greater Phoenix, Arizona, capable of supporting a minimum of 450 MW of critical load across 3.1+ million square feet of space. The campus is being developed using sustainable construction and operations, with completion expected in phases starting in 2024.

• Reno, Nevada Campus: A data center campus in metro Reno, Nevada, offering low-latency connectivity to California and favorable power costs. The campus is expected to be completed as early as late 2025.

Stages of Development

• Silicon Valley Campus: Groundbreaking completed in January 2023, with utility power expected in Q1 2024.

• Mesa, Arizona Campus: Debt financing completed in January 2024, with development underway and phased completion starting in 2024.

• Reno, Nevada Campus: Construction commenced in August 2023, with completion anticipated in late 2025.

Target Conditions

The data center campuses are designed to support high-density computing requirements, with a focus on sustainability, energy efficiency, and low-latency connectivity. Each campus is strategically located to meet the specific needs of hyperscale customers and to capitalize on favorable market conditions.

Anticipated Milestones

• Silicon Valley Campus: Operational by early 2024.

• Mesa, Arizona Campus: Phased completion starting in 2024.

• Reno, Nevada Campus: Completion expected in late 2025.

Technological Platform and Innovation

Proprietary Technologies

• Energy-Efficient Cooling Systems: Utilizing closed-loop chilled water systems and other advanced cooling technologies to optimize energy consumption and reduce operational costs.

• Advanced Building Management Systems: Employing state-of-the-art monitoring and control systems to ensure optimal performance and rapid response to operational needs.

Significant Scientific Methods

• Sustainable Building Practices: Implementing LEED-certified designs and Energy Star-rated equipment to promote environmental responsibility.

• Water Conservation Measures: Employing water-efficient cooling systems to achieve benchmark water usage effectiveness (WUE) ratings below industry standards.

AI-Driven Capabilities

While specific AI-driven capabilities are not detailed in the available information, EdgeCore's focus on high-density data centers and sustainable practices positions the company to leverage AI technologies in optimizing operations and enhancing service delivery.

Leadership Team

Key Executives

• Steve Conner: President of EdgeCore Digital Infrastructure. Conner brings extensive experience from previous roles at Nutanix, Arrow Electronics, and Vantage Data Centers. He is focused on driving operational excellence and strategic growth within the company.

• Julie Brewer: Senior Vice President of Finance. Brewer has been instrumental in securing significant funding for EdgeCore, including the $1.9 billion debt financing in January 2024.

• Clint Heiden: Chief Commercial Officer. Heiden oversees the company's commercial strategy and has been pivotal in expanding EdgeCore's presence in key markets.

Leadership Changes

In October 2023, EdgeCore introduced a new brand identity and strategic focus, including the appointment of Steve Conner as President to lead the company's growth.