This financial support highlights confidence in QScale's strategic vision and innovative solutions.
LÉVIS, QC, Nov. 20, 2024 /CNW/ - QScale, a company developing environmentally responsible computing centers, is proud to announce the successful closing of a $170 million credit facility (the "Facility"), with an additional uncommitted accordion of up to $150 million, bringing the total potential availability to $320 million. This Facility strengthens QScale's financial position, supporting its ongoing growth and commitment to delivering cutting-edge infrastructure solutions for artificial intelligence (AI). The financing will specifically support the development of phases 3 and 4 of the QScale Q01 Campus.
The syndicate of lenders includes Desjardins Group, Scotiabank, and Export Development Canada (EDC). Desjardins Group acted as the administrative agent, sole lead arranger, and bookrunner for the Facility.
"This $320 million Facility enhances our ability to accelerate growth and continue delivering sustainable and innovative infrastructure solutions to meet the growing demand for AI," said Pierre Labbé, Executive Vice President of Finance at QScale. "We deeply value the trust and confidence shown by our financial partners in supporting QScale's long-term strategy, especially as we expand our Q01 Campus."
This financing will allow QScale to expand its infrastructure, responding to the rising need for advanced computational capabilities across sectors including climate research, healthcare innovation, autonomous vehicles, financial services, and smart manufacturing.
About QScale
QScale is a leader in the development and operation of environmentally sustainable computing infrastructure. Using renewable energy and innovative cooling technologies, QScale provides scalable AI solutions that minimize environmental impact while meeting the needs of today's most demanding computational tasks.
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