Lancium, the Houston, Texas- based data center power management firm, has raised $150 million in financing led by clean energy provider Hanwha Solutions, according to a statement.
The company said Novawulf was among other strategic energy investors, while other existing, early-stage investors such as SBI Holdings also participated in the financing.
“We have an ambitious growth strategy with over 2,000 MW of capacity in development across our Clean Campuses, and significant capacity expected to come online in the year ahead,” said Michael McNamara, co-founder and CEO of Lancium.
Lancium said its “Clean Campus” data centers will host bitcoin mining, high throughput computing and other energy intensive applications, while providing power management services.
The company plans to build these data centers “at critical points on the transmission system that are often overwhelmed with renewable energy.”