Novva Data Centers Receives $355 Million Growth Capital Investment from CIM Group to Support Expansion Efforts

Additional financing brings the total equity commitment of the CIM Group to $450 million as Novva is considering additional facilities in the United States

SALT LAKE CITY, June 1, 2022 /PRNewswire/ — Novva Data Centersa state-of-the-art data center company providing purpose-built data center facilities, announced an agreement on an additional investment of up to $355 million capital from the owner, operator, lender and developer of real estate and infrastructure CIM Group, bringing the company’s total commitment to Novva to $450 million in just over two years.

(PRNewsfoto/Novva Data Centers)

The financing will support Novva’s expansion plans through United States to deliver 1,000MW of designed data center capacity by 2027 at several strategic locations, which have yet to be named. It also supports the continued partnership between CIM Group and Novva to create a world-class product, as well as a unique and tailored “wholocation” experience for customers. Wholocation refers to a combination of wholesale scale and retail colocation, which provides the ability to serve customers of all sizes and scalability needs – from those requiring 1 cabinet to over 1,000 cabinets. The concept is a feature of Novva’s existing campuses in Colorado Springs, Coloradoand West Jordan, Utah.

“This capital investment from CIM Group will allow Novva to continue to realize our company’s vision of providing the best wholesale and multi-tenant colocation infrastructure services to customers at the lowest possible cost,” said the CEO of Nova. Wes Swenson. “We are thrilled to have a partner like CIM Group who shares the same vision of delivering a bespoke premium data center experience to every customer.”

“CIM Group is delighted to continue to invest in Novva Data Centers’ growth strategy, as Novva demonstrates that it is among the most innovative data center developers and operators in the industry. said Avi ShemeshCo-founder of the CIM Group.

Novva, which was founded in 2020 and supported by $100 million with funding from CIM Group and the founders of Novva, moved quickly to realize its vision of purpose-built, sustainable data centers. She announced the acquisition of her 40 acres colorado springs location in August 2021 and opened its 100-acre flagship Western Jordan campus shortly after at September 2021. In addition to wholocation offerings, Novva campuses offer bespoke options, which can reduce customer onboarding times from 36-48 months to 12 months. Novva uses renewable energy, high density capacity and waterless cooling, providing rapid deployment and low cost. Novva is also on the cutting edge of automation with robotic surveillance dogs, autonomous aerial drones and augmented reality training.

For more information about Novva Data Centers and its futuristic technology deployments and sustainability efforts, visit www.novva.com.

For more information on the CIM Group, visit www.cimgroup.com.

About Novva Data Centers

Novva Data Centers creates purpose-built data centers around the world US West, providing wholesale and multi-tenant colocation infrastructure services for local, national and international customers. Novva’s sustainable, human-centric data center solutions are combined with an extensive portfolio of scalable, high-capacity data center equipment to provide turnkey, customer-designed solutions for businesses of all sizes. Novva’s flagship campus in West Jordan, Utah, has a capacity of 180 MW and a 1.5 million square foot data center built in four phases. A state-of-the-art waterless cooling system, renewable energy, drone and robot dog facility monitoring and more, provide a unique and modern data center experience.

Novva media contact
Jaymie Scotto & Associates (JSA)
+1 866.695.3629 extension 11
[email protected]

About CIM Group
CIM is a community-driven real estate and infrastructure owner, operator, lender and developer. Since 1994, CIM has sought to create value in projects and positively impact the lives of people in communities across the Americas by providing more $60 billion real estate and essential infrastructure projects. CIM’s diverse team of experts apply their extensive knowledge and disciplined approach to the hands-on management of real estate assets, from due diligence to operations to disposition. CIM strives to make a meaningful difference in the world by executing key environmental, social and governance (ESG) initiatives and improving every community in which it invests. For more information, visit www.cimgroup.com.

CIM Group media contact

Karen Diehl
Diehl Communications
310-741-9097
[email protected]

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SOURCE Novva Data Centers

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