Joint VentureJul 9, 2026, 04:33 PM
CleanCore Forms JV with HST for AI Data Centers; Commits $100M
AI Summary
CleanCore Solutions, Inc. (ZONE) announced the closing of a joint venture with HST Technologies, Inc. to develop, operate, and manage data center facilities for high-performance computing and artificial intelligence. CleanCore will contribute up to $100 million in cash for a 99% capital interest, with total capital commitments potentially reaching $2 billion. This strategic move positions CleanCore to build critical infrastructure for the AI economy, with an initial 200-megawatt data center campus in West Texas.
Key Highlights
- CleanCore Solutions formed a joint venture with HST Technologies for AI data centers.
- CleanCore will contribute up to $100,000,000 cash for a 99% capital interest.
- HST Technologies contributes assets and a platform license for a 1% capital interest and 20% carried participation.
- Equity consideration to HST Technologies is $60,000-$80,000 per MW, totaling $30M-$40M for 500 MW.
- HST Technologies receives $75,000 monthly for platform services plus 1% of project EBITDA (capped at $10M/year).
- Aggregate capital commitments for the JV are up to $2,000,000,000.
- CleanCore receives a 12% preferred return before profit split.
- The initial project is a 200-megawatt data center in West Texas, expandable to 500-megawatts.
Price Impact
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