Texas Pacific Land Announces Strategic Agreement With Bolt Data To Develop And Enable Data Center Campuses And Supporting Infrastructure Across TPL Land
Benzinga Newsdesk 11 months ago
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Texas Pacific Land Corporation (NYSE:TPL) ("TPL" or the "Company") today announced a strategic agreement with Bolt Data & Energy, Inc. ("Bolt") to develop and enable large-scale data center campuses and supporting
Texas Pacific Land Corporation (NYSE:TPL) ("TPL" or the "Company") today announced a strategic agreement with Bolt Data & Energy, Inc. ("Bolt") to develop and enable large-scale data center campuses and supporting infrastructure across TPL land.
Bolt is a data and energy infrastructure company co-founded by Eric Schmidt, former CEO and Chairman of Google, who also serves as Bolt's Chairman.
As part of the agreement, Bolt raised $150 million of capital with $50 million invested by TPL. TPL will receive an equity interest, warrants, and a right of first refusal to supply water to Bolt-affiliated projects and related infrastructure. Bolt is currently pursuing commercial partnerships and anchor customers to develop large-scale data centers on TPL land.