JV to Develop Gigawatt Scale Data Center in Maryland
A joint venture between Quantum Loophole Inc. and TPG Real Estate Partners (TREP) has announced plans to acquire and develop a first-of-its-kind, gigawatt scale data center community in Frederick County, MD. In connection with the joint venture, TREP has acquired a minority stake in Quantum Loophole.
The investment from TREP has been used, in part, to fund Quantum Loophole’s recently closed purchase of an approximately 2,100-acre property in Frederick County, formerly known as Alcoa Eastalco Works. The master planned, clean cloud community in Frederick County is less than one millisecond by fiber from the heart of the Northern Virginia Internet ecosystem. Starting with a gigawatt of transmission power capacity, it is anticipated that 30 to 120 megawatt capacity data center modules can be deployed in less than nine months.
“Partnering with TREP strengthens our vision, setting us firmly on the path to build the first-ever, mass-scale gigawatt data center community,” said Josh Snowhorn, CEO at Quantum Loophole. “This project marks the first comprehensive approach to data center development inclusive of environmental impact, efficiency in power use and distribution, fiber connectivity, and a streamlined approach to construction. Quantum Loophole’s approach enables cost efficiencies, expedited time to market, and a revolutionary and industry-leading commitment to sustainability for hyperscale data center developments.”