QScale: QScale secures C$195 million ($155.2 million) funding for its large-scale data center campus

Jul 21, 2021 | Posted by Abdul-Rahman Oladimeji

The Quebec Government, along with local private investors and Deszardins Capital, will invest a total of C$195 million ($155.2 million) in QScale, a Quebec-based data center firm. QScale first announced its plans to build a large-scale data center campus in Quebec in June. It said the data center would handle intensive workloads like artificial intelligence, machine learning, and HPC.

The Quebec Government will be providing QScale with a C$60 million ($47.9 million) loan and also investing C$30 million ($24 million) in the Company. Local private investors and Deszardins Capital, a Quebec-focused fund manager, will also invest C$45 million ($36 million) and C$60 million ($47.9 million), in QScale respectively.

The project is estimated to cost C$867 million, and it would be built in 8 phases. The construction of the first phase has started, and it is scheduled to be completed by the end of 2022. QScale says the funds raised would be used to complete the first phase of the project.

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