• Portman Partners

Canadian startup breaks ground on seven hundred million dollar data centre

Updated: Nov 24, 2021

Fonds QScale SEC has broken ground on a $690 million (US Dollar) data centre based in Quebec, Canada. Set to produce more than 200 jobs, the project will be built in eight phases and will be completed by the end of 2022. The first phase of the project is valued at 195 million Canadian dollars.

The Quebec government has pledged to contribute to the project, announced a financial contribution of a 60 million Canadian dollar loan and have committed to purchasing 30 million Canadian dollars in company shares. Desjardins Group (Canadian financial services cooperative) will also invest a further CA$60 million.

Founded in Quebec City in 2018, QScale has also reached an agreement with Hydro-Quebec and has promised to use 140 MW of renewable energy.

The President of QScale, Martin Bouchard highlighted that “QScale is the embodiment of what Quebec aspires to in economic terms, knowledge and sustainable development.” Bouchard is very happy that all the conditions have been met to bring it out of the ground and described it as “the project of a lifetime.”

The President and CEO of Desjardins Group, Guy Cormier added “this project is perfectly aligned with our vision and our cooperative values. It demonstrates the essential economic role that Quebec entrepreneurs play in the evolution of Quebec’s economy.”

Furthermore, the excess heat generated by the facility will be collected and transported to greenhouses that will be built in the local area surrounding the campus. QScale is committed to not polluting the planet and they anticipate growing 2,800 tonnes of berries and more than 80,000 tonnes of tomatoes each year.

This blog was originally written by The Tech Capital. Read more about Portman Insights here.

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