Private equity firm Snowhawk LP has invested in data center developer CleanArc Data Centers.
Terms of the investment weren't shared.
Snowhawk's investment will accelerate CleanArc's growth as the company expands its team and develops its first data center campus in Virginia.
CleanArc was launched early last year by clean energy investment firm 547 Energy. Led by Vantage Data Centers founder Jim Trout, the company aims to develop hyperscale data center campuses delivering 300MW+, 200-700-acre campuses.
Supported by Snowhawk's investment, CleanArc recently acquired land along Interstate 95 between Ashburn and Richmond, Virginia, with plans to deliver 600MW of data center capacity on land already zoned for data center use within a 650-acre campus.
Further location details or building specifications weren't shared.
CleanArc and Rappahannock Electric Cooperative have executed an agreement to begin construction on the property's first substation, and CleanArc plans to have 300MW of data center capacity ready for service in 2027.
"We are delighted to further our partnership with James Trout and the CleanArc team," said Brian McMullen, managing partner and co-founder at Snowhawk. "We see a generational opportunity to invest in the cloud and AI architecture underpinning our increasingly digital society. CleanArc is a pioneer in innovative and sustainable data center solutions for its customers, and we are excited to invest in platform expansion in its focus markets."
"As we deepen our hyperscaler partnerships and construct state-of-the-art data center campuses, we believe Snowhawk is an ideal investment partner," added James Trout, CleanArc founder & CEO. "Snowhawk's ongoing support provides the driving force for us to hit the ground running on developing our inaugural data center."
Trout also founded data center consultancy Proferian and previously held roles at Digital Reality and ProLogis. He was president of CoreSite when it was founded as CRG West. Trout left Vantage in 2013.
CleanArc is collaborating with energy partners that will provide wind, solar, and other renewable sources to offset utility power consumption on its campuses - the company aims to provide customers with hourly, load-following carbon-free energy.
PJT Partners served as the exclusive financial advisor to Snowhawk and Kirkland & Ellis LLP acted as legal advisor. TD Securities and CBRE Capital Advisors acted as financial advisors to CleanArc and BakerHostetler acted as legal advisor.
Founded in 2022, Snowhawk is a private investment firm targeting investments in cloud, connectivity, and technology services.
547 was founded by Gabriel Alonso, previously CEO of EDP Group’s renewable arm EDP Renewables North America. 547 is the clean energy investment platform of Quantum Energy Partners. Founded in 1998, Quantum Energy Partners is a provider of private equity capital to the energy sector.
