DPO Launches $200 Million AI Data Center Development in Partnership with Billerud

NEW YORK, Jan. 23, 2025 /PRNewswire/ -- Digital Power Optimization, Inc. ("DPO"), a developer and operator of power-dense data centers, today announced it has secured land and a firm power supply to develop a $200 million high-performance computing facility in Wisconsin Rapids, WI. This state-of-the-art project will enable up to 20 megawatts of AI computing.

DPO is working in partnership with Billerud subsidiary Consolidated Water Power Company ("CWPCo"), a regulated utility operating 32 megawatts of renewable hydroelectric generation assets within its electrical distribution system. Through its relationship with CWPCo, DPO has secured a definitive land lease extending for up to fifty years, interconnection rights to an existing and energized substation, and access to a firm power supply.

"With our definitive agreements with CWPCo now finalized, we're thrilled to launch the development of this cutting-edge facility," said Andrew Webber, DPO's CEO. "The shortage of high-density rack space is going to be a sustained trend well into the 2030s, and our strategy of leveraging underutilized land, infrastructure, and power, creates a win-win solution for all stakeholders. Speed-to-energization is critical in today's market, and by forming relationships with forward-thinking power partners like CWPCo, and designing to what is immediately actionable, facilities like this can be brought online several years ahead of hyperscale projects."

"This collaboration offers a unique opportunity for CWPCo and the broader community," added CWPCo Director Martin Burkhardt. "We're creating value by utilizing our existing resources more efficiently, and showcasing how innovative partnerships can unlock new possibilities. This development strengthens our sustainability by generating new revenue, diversifies our customer portfolio, and sets a strong example for other ambitious ventures."

DPO has engaged Stantec, a global leader in sustainable design and engineering to provide consulting and engineering support, and is currently working with the City of Wisconsin Rapids and various state agencies to finalize construction plans and building permits prior to groundbreaking and vertical construction. The project's pre-development phase has been funded by an investor consortium led by Salutem Capital ("Salutem"), a privately-held New York family office.

"The AI revolution is driving unprecedented demand for high-performance computing infrastructure," said Justin and Cameron Adelipour, Managing Partners at Salutem. "This agreement highlights DPO's ability to execute and deliver the critical infrastructure necessary for the next wave of AI innovation. Our investment illustrates our full confidence in DPO's vision and their ability to address the evolving needs of the digital infrastructure ecosystem."

DPO expects the project to reach energization in 2026.

About Digital Power Optimization

Digital Power Optimization is a leading developer and operator of data centers for power-dense computing. DPO partners with utilities and IPPs to locate data centers on-site at power generation facilities to directly utilize renewable energy for the operation of HPC/AI and Proof-of-Work computing. DPO is privately held. For more information, please visit DigitalPowerOptimization.com.

About Billerud

Billerud makes high performance packaging materials for a low carbon society. We are a global leader in paper and packaging materials made from cellulose fibers, and we are passionately committed to sustainability, quality and customer value. We serve customers in more than 100 countries through nine production units in Sweden, USA, and Finland, and around 5,800 employees in over 19 countries. Billerud is listed on Nasdaq Stockholm. www.billerud.com

About Consolidated Water Power Company

The Consolidated Water Power Company is a regulated utility founded in 1894 and headquartered in Wisconsin Rapids, Wisconsin.  CWPCo owns and operates five dams on the Wisconsin River and maintains a long history of safely and reliably serving electrical load to the forest products industry in Wisconsin Rapids, Biron, and Stevens Point, Wisconsin.

About Salutem Capital

Salutem Capital is a family office backing ambitious and transformative entrepreneurs. We invest in technologies with the power to shape a better future for humanity, focusing on space technology, artificial intelligence, alternative energies, cryptocurrency, and robotics. We take a long-term, concentrated approach, partnering with founders who have the potential to scale their companies and drive meaningful impact over decades.

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SOURCE Digital Power Optimization