DPO Acquires Controlling Interest in Second Hydroelectric Asset
NEW YORK, March 21, 2024 /PRNewswire/ -- Digital Power Optimization, Inc. ("DPO") announced its acquisition of a controlling interest in a second U.S. hydroelectric facility via its Cascade Digital Power ("Cascade") subsidiary. The purchase was funded by an affiliate of Aegon Asset Management Real Assets.
Cascade has been managing a hydroelectric power generation facility in Hatfield, WI since early 2022 on behalf of institutional investors. DPO has dramatically boosted revenues at the Hatfield site by developing and managing a co-located behind-the-meter data center.
"This latest hydro acquisition is a major step forward for our growing Cascade portfolio," commented Andrew Webber, DPO's CEO. "This facility is capable of producing nearly twice as much clean renewable energy as our Wisconsin facility and is in excellent condition with stable operations and cash flow production. We are also pleased to work with Aegon Asset Management Real Assets, and we will seek to grow this relationship with additional acquisitions together in the near future."
About Digital Power Optimization
Digital Power Optimization is a leading developer and operator of green data centers for power-dense computing. DPO partners with utilities and IPPs to locate data center facilities on-site at power generation plants to directly utilize renewable energy for the operation of HPC/AI and Proof-of-Work computing. DPO is privately held. For more information on DPO, please visit DigitalPowerOptimization.com.
About Cascade Digital Power
Cascade Digital Power is an investor in hydroelectric power generation facilities with over $20mm invested to-date. Cascade believes existing rural hydroelectric assets are an underappreciated and undervalued source of renewable energy. It seeks to maximize value by increasing and maintaining renewable power output while efficiently managing operating expenses. Cascade is privately held.
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SOURCE Digital Power Optimization, Inc.
