IP3 and Green Energy Partners sign Agreement to Jointly Pursue Large-Scale Green Data Center Facility and Surry Green Energy Center
IP3 Corporation (“IP3”) and Green Energy Partners, LLC (GEP) announced on August 14 their agreement to jointly pursue clean, green energy projects by establishing the Surry Green Energy Center, LLC to implement innovative commercial plans targeting baseload and industrial energy needs in Virginia.
The project features a land acquisition plan for green data centers, with future options to build carbon-free hydrogen and nuclear energy production facilities.
Virginia’s data centers process over 70% of the world’s internet data and the need for data storage and handling is growing exponentially. These data centers also consume about 25% of Virginia’s energy, powered today by carbon-based fuels. The Surry Green Energy Center will be a new data center hub powered by carbon-free green energy and from small-modular reactors (SMRs) on-site. The project includes a fleet of 4-6 SMRs powering 20-30 data centers, generating hydrogen fuel, and providing backup power for Virginia’s grid. The Surry Green Energy Center will expand Virginia’s data center capacity and offset escalating power demands.
“As we look to build on our dominance in energy-intensive industries like data centers and advanced computing and increase our leadership in emerging fields like advanced manufacturing, ag-tech, and biopharmaceuticals, we know that our grid must deliver power, 24 hours a day, 7 days a week, 365 days a year, and it must deliver that power at a competitive price.,” wrote Governor Glenn Youngkin in the Virginia Energy Plan.
Strategically located in Surry County, Virginia, the joint IP3-GEP project will supply digital infrastructure and future power supply services to government agencies and military bases across the Washington, DC, to Norfolk, VA region. The SGEC project is estimated to create more than 3,000 jobs in the Surry area, boosting the local economy by generating millions in annual salaries and revenue.
The IP3-GEP relationship will involve collaboration to lead the transition for energy generation options in the region. IP3 will provide project development, financial structuring, and funding solutions in a phased approach. The joint agreement addresses inception, development, financing, and operations that will attract private capital and cutting-edge energy companies to Virginia.
“The Commonwealth of Virginia has developed a purposeful plan for their energy future. They are ready to harness the smart energy transition to create jobs for Americans and set an example for developing clean industrial zones,” explained Michael Hewitt, Co-Founder and CEO of IP3. “Infrastructure investment needs to be radically reoriented. The combined expertise of GEP and IP3 will access private capital markets to help Virginia’s energy sector become a model for an era of American energy sovereignty.”
“For nearly fifty years, we have delivered positive growth for Virginia. Today, we see a clear path to clean power that reinforces America’s national security and supports a carbon-free future,” explained Mark Andrews, CEO of Green Energy Partners. “GEP and IP3 offer a powerful partnership to pioneer an America-first solution for low-carbon energy security.”
About IP3 Corporation: IP3 delivers a “buy-side” approach for private enterprises and host nations to pursue planning, development, financing, and operations of projects deploying clean energy technologies. IP3 is a developer and integrator of nuclear energy programs in coordination with its fully owned subsidiary, Allied Nuclear Partners (ANP). A second subsidiary, IP3 Security, provides physical and cyber security expertise. Visit IP3International.com for more information.
About Green Energy Partners of Virginia: Green Energy Partners LLC of Virginia (GEP) is a property and project development company that is passionate about generating sustainable carbon-free energy. GEP secured 641 acres in Surry County, Virginia, and plans to create the nation’s first fully integrated Green Energy Center. The team’s successes began in 1975 with a vision for 20 acres in Fairfax County that became the Spring Park Technology Center. Successive acquisitions and developments include over 11,000 acres in Virginia, creating more than 15,000 residential and industrial lots along with thousands of jobs. Visit water2.energy to learn more.
NOTE: Certain statements contained in this press release constitute forward-looking statements as such term is defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are intended to be covered by the safe harbor provided by the same. Statements made in this release that are not based on historical fact are forward-looking statements. We base these forward-looking statements on management’s current estimates and expectations as well as currently available competitive, financial and economic data. Forward-looking statements, however, are inherently uncertain. There are a variety of factors that could cause business results to differ materially from our forward-looking statements, including, but not limited to, general economic conditions, including inflation and the actions taken by monetary authorities in response to inflation, changes in interest rates, foreign currency exchange rates, changes in capital markets, geopolitical events and conflicts, and the impact of pandemics, including the related reaction of governments on global and regional market conditions and the companies’s business, among others. The companies are not under any duty to update any of the forward-looking statements after the date of this press release to conform to actual results, except as required by applicable law. For inquiries: info@ip3international.com 202-380-6835
