Nautilus Data Technologies has closed a $100 million multi-draw, senior secured debt facility with Orion Energy Partners, to finance the construction and subsequent expansion of its 6-megawatt colocation data center in Stockton, Calif.
Stockton I is an ultra-efficient, high-density, water-cooled data center that will use naturally cold water in an open and closed loop system of heat exchangers to cool client environments, which is more efficient compared to the conventional HVAC solutions found in air-cooled data centers.
The Stockton I data center will be commissioned in fourth quarter 2020.
Marathon Capital acted as exclusive financial adviser to Nautilus on the transaction.
The partnership with Orion Energy will continue to support the construction of future projects in Nautilus’ pipeline, according to the company’s CEO, James Connaughton.
