British investment company Downing LLP is using a crowdfunding platform to help subsidize a data center run by GTP3 in Birmingham, in the West Midlands, and has raised £1.9m ($2.45m) of its £2.8m ($3.61m) goal.
Roll up, roll up
Located near the old Curzon Street railway station, where developers plan to build the HS2 high speed rail terminal, the facility will include two data halls, one of which is already completed. The facility is partially online and serves an “established IT services company.” When completed, it will have a total power supply capacity of 3MVA.
Birmingham City Council has backed the project as part of the ‘Digital Birmingham’ initiative, which aims to encourage the city’s technology industry. Downing has already invested £20m in the facility.
The investment-based crowdfunding initiative states it can reach a 5.25 percent maximum annual return on bonds over a 24 month period.