Floating data Centre Company Nautilus secures $100m loan from Orion Energy Partners

Nautilus will use the sum to fund its aquatic data centre projects

Nautilus Data Technologies has secured financing from investment firm Orion Energy Partners to finish ongoing projects such as a 6MW data center at the Port of Stockton, California.
Nautilus specializes in building water-borne centers which break upon a moored barge and are cooled by water. The 100m debt facility will pay for the expenses of completing projects including the Stockton data center, which is expected on line in late 2020. The barge-borne data centre will utilize the company’s signature cooling system, cold water, and a method of heat exchangers which use the water surrounding the construction as a reservoir. Nautilus says its method of cooling permits up to five times more energy density per rack and can still have a bigger footprint than its competitors.

This newest”debt facility” is the largest amount of money awarded to so far. The corporation’s CEO, James L. Connaughton, stated:”Orion Energy is providing Nautilus with adaptive capital to complete the commissioning of the Stockton I data centre, strategically located in Northern California in the Port of Stockton.

“This funding enables Nautilus to showcase then rapidly expand our transformative method of meeting the urgent business and community demand for higher performing and more renewable information center solutions.”

Orion Energy is an investment firm that specializes in investing in technology firms with a focus on sustainability. Gerrit Nicholas, the operating director at Orion Energy, stated:”Nautilus is well-positioned to set the benchmark for supplying sustainable and reliable data centre services to its customers.”

Since its founding in 2015, Nautilus continues to be busy building data center barges in america and Ireland. But, its novel idea to build upon bodies of water has been met with criticism. This past year, the firm’s $35m ($40m) Irish info centre from the city of Limerick got the green light after complaints in 2019 from your Limerick Port Users Group were removed. The information centre is expected to be online in the upcoming year and will be the first industrial data centre to float .

Singapore-based Keppel invested $10m into Nautilus in 2017 and, in 2019, announced it was scouting for appropriate nearshore locations to get a waterborne centre. In April 2020 Keppel proposed a floating info center park at Singapore, that could be powered by means of natural gas – and advised DCD it is assessing other options apart from afar, stating:”We have a few options on the desk. Depending on the particular needs, geographic location, and operating environment of the FDCP, we will deploy the most acceptable technology. Nautilus’s technology is one of the options.”

Additional companies and investors are toying with the concept of a water-borne data center. Microsoft’s Project Natick is a underwater data center software that has witnessed two deployments in massive submersibles from the Pacific and off the coast of the Orkneys, Scotland.

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