RALEIGH – Charlotte-headquartered Flexential will build a new 18 megawatt (MW) facility in Raleigh and also announced an additional $150 million financing plan.
The funds would be invested into the company’s sustainable data center projects, like the planned facility in Raleigh. The capital raise follows the company’s $2.1 billion funding through asset-backed securities that included $1.6 billion in “green ABS notes” announced in December 2021.
The company chose Raleigh for its 120,000 square foot data center due to the Research Triangle’s “increasing importance as an innovation zone,” according to a statement released on Wednesday by the company.
With access to a skilled workforce, the company expects the facility to be operational on an initial phase by the third quarter of 2023. The company did not share any hiring targets for the facility. The company currently has six open roles that could be based in Raleigh, according to its careers webpage.
The company notes in its statement that the new facility will “provide scalable and flexible data center capacity in strategic edge markets to address customers’ hybrid requirements for the convergence of enterprise IT and SaaS platforms.”
Raleigh is one location of the company’s national expansion. Other cities where the company is developing data centers include Atlanta, Dallas, Denver, Minneapolis, Nashville, and Portland.
The company anticipates that its newly launched FlexAnywhere™ platform will expand to provide as much as 220 megawatts and more than three million square feet of capacity by the end of 2022, according to a statement.
Flexential was formerly known as Peak 10, and changed its name in 2018. The company was founded in 2000, and by 2003 had operations in four cities in the southeast.
