Green Tech Capital is inviting investors to participate in their Tax-Deferred QOZ Fund aimed at supporting onsite HPC Data Centers powered by geothermal energy.
Long Beach, United States, February 21, 2024 -- Green Tech Capital OZ Fund and Novel Therm are set to revolutionize the data center industry by offering high-performance compute (HPC) data centers powered by geothermal energy. This innovative partnership combines the financial benefits of the Qualified Opportunity Zone (QOZ) program with the sustainable solutions of green technology.
More details can be found at https://www.greentechozfund.com
The data centers are designed to provide environmentally friendly, low-carbon footprint, high-performance compute services (HPCaaS) priced at up to 10 times less expensive than the top cloud providers. This development aligns with the growing demand for sustainable solutions in the HPC data center market, driven by research and innovation, Artificial Intelligence (AI) and Machine Learning (ML) applications, government agencies, climate modeling, and escalating data needs.
"The QOZ program offers substantial tax benefits to investors who funnel their capital gains into Qualified Opportunity Funds," explains a spokesperson from Green Tech Capital OZ Fund. "Our collaboration with Novel Therm allows us to leverage these benefits to stimulate economic growth and create jobs while promoting green technology."
Novel Therm's unique HPCaaS model allows clients to "burst" into their facility on demand with usage-only flat-rate billing. The company harnesses carbon-free geothermal energy to provide the lowest-cost solution for high-performance computing.
In brief
Green Tech Capital OZ Fund says it is partnering with Novel Therm to support high-performance computing data centers powered by geothermal energy. The fund is intended to use the Qualified Opportunity Zone program, which the company says offers tax benefits to investors who direct capital gains into qualified opportunity funds. Novel Therm’s model lets clients access computing capacity on demand, with usage-only flat-rate billing. The companies say the facilities will provide high-performance compute services and that pricing may be up to 10 times less than leading cloud providers. The announcement frames the project as a way to encourage investment in green technology, economic development and job creation. It does not specify the project’s investment amount, development schedule or data center locations.
Key takeaways
- Green Tech Capital OZ Fund and Novel Therm announced a partnership focused on geothermal-powered HPC data centers.
- The fund is associated with the Qualified Opportunity Zone program and its stated tax benefits for investors.
- Novel Therm says clients can access computing capacity on demand with usage-only flat-rate billing.
- The release says HPC services may be priced up to 10 times less than those of leading cloud providers.
"This partnership represents a significant step forward in our mission to provide sustainable, affordable compute power," says a representative from Novel Therm. "By coupling our advanced technology with the financial incentives of the QOZ program, we can drive investment in green technology and contribute to a more sustainable future, while achieving an impressive ROI."
Learn more at https://www.greentechozfund.com/fund-info/why-is-the-green-tech-oz-fund-the-best-qualified-opportunity-fund-to-invest-in-2024
Green Tech Capital's QOZ fund offers investors significant growth potential, tax breaks, low risk, a well-planned business model, and established partnerships.
This strategic partnership is poised to disrupt the HPC data center industry, offering a breakthrough solution that combines financial incentives, environmental sustainability, and competitive pricing. By investing in the Green Tech Capital OZ Fund, investors can not only see high profitable financial returns but also contribute to positive societal change.
For more information about the Green Tech Capital OZ Fund and its partnership with Novel Therm, visit https://www.greentechozfund.com.
About Green Tech Capital OZ Fund
Green Tech Capital OZ Fund is a leading investment fund that leverages the tax benefits of the Qualified Opportunity Zone program to stimulate economic development and job creation in distressed communities.
About Novel Therm
Novel Therm is an innovative technology company that develops high-performance compute (HPC) data centers powered by carbon-free geothermal energy.
For more information, go to https://www.greentechozfund.com/fund-info/understanding-the-benefits-of-the-green-tech-oz-fund-a-comprehensive-guide
Contact Info:
Name: Greg Steward
Email: Send Email
Organization: Green Tech Capital OZ Fund LLC
Address: 6475 E. Pacific Coast Hwy Suite 461, Long Beach, CA 90803, United States
Phone: +1-562-712-2005
Website: https://www.greentechozfund.com
Source: NewsNetwork
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Questions around this news
What is a Qualified Opportunity Zone fund?
A Qualified Opportunity Fund is an investment vehicle that invests in eligible property or businesses connected to designated Opportunity Zones. The release says the fund is intended to use the QOZ program’s tax benefits to support onsite HPC data centers and economic development. Eligibility and tax treatment depend on program rules and an investor’s circumstances.
How does Novel Therm’s HPCaaS model work?
The release describes a model in which clients can access computing capacity at the facility on demand, or “burst” into it, and are billed at a flat rate based on usage. It says the data centers are designed to provide high-performance compute services powered by geothermal energy.
How can geothermal energy power a data center?
Geothermal systems use heat from beneath Earth’s surface to produce energy, often by bringing underground heat or steam to equipment that generates electricity. A data center can use that electricity to run computing hardware and cooling systems. The specific equipment and energy arrangement vary by site and system.
What does the Green Tech Capital and Novel Therm partnership plan to provide?
The release says the partnership will support onsite, geothermal-powered HPC data centers and offer high-performance computing as a service. It presents the fund’s QOZ structure as a way to attract investment, while Novel Therm contributes its data-center model. The release also says the initiative aims to support job creation and economic activity in distressed communities.
