Novva Data Centers’ plans for expansion are moving forward with its announcement of a $355 million growth equity investment from CIM group. This latest funding from the real estate and infrastructure owner, operator, lender, and developer brings its total investment in Novva to $450 million in just over two years.
The funding will support Novva’s plans to expand across the United States in order to offer 1,000 MW of designed data center capacity by 2027 at several strategic, yet-to-be-named locations.
The partnership between CIM Group and Novva is centered around the desire to create a unique experience for customers, which is being referred to as “wholocation” – a combination of wholesale scale and retail location. This concept is currently being implemented at Novva’s existing campuses in Colorado Springs, Colorado, and West Jordan, Utah to best serve clients of any size and scalability needs.
“This equity investment from CIM Group will allow Novva to continue delivering on our company vision of providing the best wholesale and multi-tenant colocation infrastructure services to clients at the lowest possible cost,” said Novva CEO Wes Swenson. “We’re thrilled to have a partner like CIM Group that shares the same vision of delivering a bespoke, premium data center experience to each and every client.”
With the initial $100 million investment from CIM Group and Novva’s founders, the data center operator has been working diligently to bring forth its vision of purpose-built, sustainable data centers through the acquisition of its Colorado Springs location and the opening of its flagship center in West Jordan. This additional funding round will help Novva expand across the United States and offer 1,000 MW of designed data center capacity by 2027.
With innovative practices that include waterless cooling, renewable energy, and automation complete with robot dogs, autonomous drones, and augmented reality training, the partnership between Novva and CIM Group has proven to be a success with no signs of slowing down any time soon.
For more information about Novva Data Centers, visit www.novva.com.
For more information about CIM Group, visit www.cimgroup.com.