Snowhawk Invests in CleanArc Data Centers

Firm's Data Center Platform Investment Will Accelerate Go-to-Market Plans for Renewables-Focused Hyperscale Data Center Developer

NEW YORK, Sept. 17, 2024 /PRNewswire/ -- Snowhawk LP, a private equity firm that invests in businesses that power the economy's digital transition, today announced a strategic investment in CleanArc Data Centers ("CleanArc"), a developer and operator of renewables-focused hyperscale data center campuses. Snowhawk's investment will accelerate CleanArc's growth as the company expands its team, develops its first data center campus in Virginia, and solidifies partnerships with hyperscale customers.

"We are delighted to further our partnership with James Trout and the CleanArc team," said Brian McMullen, Managing Partner & Co-Founder at Snowhawk. "We see a generational opportunity to invest in the cloud and AI architecture underpinning our increasingly digital society. CleanArc is a pioneer in innovative and sustainable data center solutions for its customers, and we are excited to invest in platform expansion in its focus markets."

"As we deepen our hyperscaler partnerships and construct state-of-the-art data center campuses, we believe Snowhawk is an ideal investment partner," said James Trout, CleanArc Founder & CEO. "Snowhawk's ongoing support provides the driving force for us to hit the ground running on developing our inaugural data center."

Supported by Snowhawk's investment, CleanArc recently acquired land along Interstate 95 strategically located between Ashburn, Virginia, and Richmond, Virginia, with plans to deliver 600MW of data center capacity on land already zoned for data center use within a 650-acre campus. In addition, CleanArc and Rappahannock Electric Cooperative have executed an agreement to begin construction on the property's first substation, and CleanArc plans to have 300MW of data center capacity ready for service in 2027.

Led by a team of data center veterans and power structuring experts, CleanArc has created a unique approach to hyperscale data center development that delivers 300+ MW, 200-700+-acre campuses while offering very intentional power sourcing. Deeply committed to public and private partner engagement, CleanArc is collaborating with energy partners that will provide wind, solar, and other renewable sources to offset utility power consumption on its campuses. Coupled with CleanArc's specialized expertise in power structuring, this approach enables the team to provide customers with hourly, load-following carbon-free energy.

"Snowhawk and CleanArc were both founded to serve the data center industry during an inflection point requiring new innovations, approaches, priorities, and capital," said Sara Baack, Founding Partner & Chief Strategy Officer of Snowhawk. "By joining two teams with deep data center expertise to tackle the industry's biggest challenges, this continued partnership represents a bright future for our sector."

PJT Partners served as exclusive financial advisor to Snowhawk and Kirkland & Ellis LLP acted as legal advisor. TD Securities and CBRE Capital Advisors acted as financial advisors to CleanArc and BakerHostetler acted as legal advisor.

About Snowhawk
Snowhawk is a private investment firm that targets strategic majority investments in businesses that power the economy's digital transition across cloud, connectivity and technology services. Founded in 2022, the Snowhawk team brings long investing histories and deep operating expertise in partnering with management teams to create strong performance and enduring value for companies, customers and investors. For more information, visit snowhawkpartners.com.

About CleanArc 
CleanArc is an innovative provider of first-of-its-kind, sustainability-focused data center development and operation solutions. With decades of experience in both the data center and energy sectors, CleanArc has assembled the critical components — scalability, renewable energy, and strategic data center production — under one arc for hyperscalers seeking to expand quickly, sustainably, and cost-effectively. Founded by industry veteran James Trout, CleanArc is led by a deeply experienced executive team who have designed, managed, or built 2 gigawatts of state-of-the-art data center facilities — but are unburdened by legacy business practices and dated approaches to the market. CleanArc is delivering the data center of tomorrow, today. To learn more, visit www.cleanarcdatacenters.com and follow us on LinkedIn.

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SOURCE CleanArc Data Centers