AirTrunk raises $450m: Singapore hyperscale data center on the cards
Australian hyperscale data center specialist AirTrunk has raised SG$450 million in order to finance its expansion across Asia Pacific. The expansion will include a 60+ megawatt hyperscale data center in Singapore.
The company has an 'ambitious' Asia Pacific growth strategy, driven by strong customer demand for hyperscale solutions. The company already has operations in Australia, located in Sydney and Melbourne.
The new Singapore development is a major step towards that growth strategy. The state-of-the art facility, to be located in Loyang and close to the Changi North Cable Landing Station, will be the largest neutral data center in Singapore, AirTrunk says.
With more than 60 megawatts of IT load, the data center will be specifically designed for hyperscale cloud, content, and enterprise customers.
"We are immensely proud to be the first Australian operator to build a hyperscale data center in Singapore," says AirTrunk founder and CEO Robin Khuda.
"Throughout the financing process, we received strong interest from global financial institutions in recognition of AirTrunk's proven hyperscale model backed by long-term customer commitments. This additional SG$450 million financing provides us with a strong balance sheet to pursue further growth and become the preeminent hyperscale data center operator in the region.
The data center will be carrier-neutral, serviced by multiple fibre paths. It will also include a dedicated high-voltage substation that will provide reliable and cost-effective power solutions for customers.
AirTrunk's investment in Singapore will also create 'hundreds of jobs' during construction and ongoing operations, the company states.
AirTrunk chief commercial officer and executive director Michael Juniper is tasked with overseeing new projects in Singapore.
"The rapid growth of cloud and evolving needs of enterprises are driving demand for hyperscale capacity in the region. Singapore is a strategic data center hub due to its economic and political stability and rich connectivity to Asia, the USA, and Europe," says Juniper.
"AirTrunk's inaugural Singapore data center is set to be operational in mid-2020 and will showcase our unmatched deployment speed, scalability, reliability and cost efficiency. We are committed to developing a sustainable digital ecosystem, delivering an industry-low power usage effectiveness (PUE) and BCA Green Mark Platinum certification."
Like its other facilities, AirTrunk's Singapore data center is designed to meet the stringent security requirements of its customers including TVRA, ISO27001, PCI-DSS and ISAE 3402 Type 2.
AirTrunk's debt financing was undertaken with three global financial institutions, Deutsche Bank, Goldman Sachs and Natixis, with additional equity capital from its founder and CEO, Robin Khuda, and shareholders, Goldman Sachs and TPG Sixth Street Partners (TSSP). AirTrunk was advised by Grant Samuel, Norton Rose Fulbright and Rajah - Tann.
