New Fortress Energy Unveils Klondike Data Center Firm to Support AI Growth

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DateJul 3, 2024

NASDAQ-listed New Fortress Energy has announced the launch of Klondike Digital Infrastructure, a new venture focused on power and data center development tailored for hyperscale clients. This initiative aims to meet the growing demand for comprehensive digital infrastructure necessary for the rapid expansion of artificial intelligence (AI).

Klondike’s approach would be groundbreaking, leveraging behind-the-meter, on-site power to overcome the typical challenges associated with digital infrastructure development. This method would ensure grid stability, significant transmission capacity, reliable power, energy cost savings, and scalability.

Wes Edens, CEO and Founder of Klondike as well as Chairman and CEO of New Fortress Energy, highlighted the importance of power and infrastructure in the AI landscape. “Power and infrastructure are the bottleneck of the AI race. With the rapid development of AI and the accompanying explosive growth in power demand, we are building larger-scale data center solutions to accommodate the needs of our hyperscale clients. And because we produce our own power, we can provide certainty to our customers more quickly than our competitors,” said Wes Edens.

The surge in AI applications has the potential to strain the current power grid, leading to higher electricity costs and possible instability, according to the company. Klondike’s strategy of using independent power sources and behind-the-meter power not only mitigates the demand on the grid but also contributes excess power back into it. This dual benefit approach would help stabilize the grid while offering cost-effective power solutions.

Portfolio of Data Center Sites

Klondike is actively developing a diverse portfolio of data center sites to meet the needs of hyperscale users. The company boasts over 1,000 acres of developable land across various locations including Brazil, Ireland, and the United States. These sites are strategically chosen for their proximity to large existing power plants or areas with permits in progress to construct gigawatt-level power facilities. Additionally, these locations offer connectivity to fiber networks, transmission access, and water resources, ensuring comprehensive support for large-scale data center operations.

New Fortress Energy Inc., the parent company, is a global energy infrastructure enterprise committed to tackling energy poverty and facilitating the global transition to reliable, affordable, and clean energy. The company manages natural gas and liquefied natural gas (LNG) infrastructure and operates an integrated fleet of ships and logistics assets to provide turnkey energy solutions worldwide. Their efforts would help enhance global energy security, foster economic growth, promote environmental stewardship, and transform local industries and communities.

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