QScale, a prominent Canadian data center operator, has secured up to $320 million in financing, marking a significant step in its efforts to expand infrastructure and meet the growing demand for AI solutions. This funding includes a $170 million credit facility and an optional accordion feature of up to $150 million, highlighting the confidence financial institutions have in QScale’s strategic vision.
A syndicate of lenders, including Desjardins Group, Scotiabank, and Export Development Canada (EDC), led the financing initiative. Desjardins Group served as the administrative agent and lead arranger, emphasizing its commitment to advancing AI and high-performance computing industries.
Pierre Labbé, QScale’s EVP of Finance, expressed enthusiasm about the funding, noting, “This $320 million facility enables us to accelerate our growth while continuing to deliver innovative infrastructure solutions that align with the needs of AI-driven businesses.” With these funds, the company plans to expand its flagship Q01 campus in Lévis, Quebec, reinforcing its leadership in sustainable AI infrastructure.
Since its founding in 2018 by Vincent Thibault, Dany Perron, and Martin Bouchard, QScale has focused on supporting AI and high-performance computing industries. Bouchard, who also founded Copernic and 4Degrés data centers, has consistently championed innovation within the technology sector.
Currently, the Q01 campus is on track to deliver 142MW of IT capacity at full build-out. Construction began in 2021, and the second building commenced in 2022. Hewlett Packard Enterprise (HPE) has already established operations at the site, further validating its potential.
To continue this momentum, QScale is also planning its second facility in Montreal’s Ecoparc de Saint-Bruno-de-Montarville, ensuring broader accessibility to its advanced services.
QScale’s recent success demonstrates its ability to secure resources and scale operations effectively. With this funding, the company solidifies its position as a leader in the AI infrastructure landscape, offering innovative and sustainable solutions tailored to the future of computing.
