Project News / Energy & Solar
Atlas Signs AI Data Center Power Agreements Covering Equipment and an Additional 283MW
The Austin-based company says its first behind-the-meter power project, in Socorro, is on track to come online at the end of the first quarter of 2027.
Atlas Energy Solutions has announced two cost-reimbursement agreements with an unnamed leading frontier AI lab. The agreements support balance-of-plant equipment and an incremental 283MW of generation capacity for two data center projects, according to its November 2 third-quarter release. The release does not name the lab or the project sites.
The company also closed a $424 million senior secured bridge facility with Goldman Sachs and Barclays. As of 23 Oct, $252.8 million of it remained available, earmarked for certain purchase obligations.
Atlas said its first behind-the-meter power project, in Socorro, Texas, remains on track to come online at the end of the first quarter of next year. Growth capital spending was $181.9 million in the quarter.
Third-quarter revenue was $267.8 million and the net loss was $45.1 million. No contractor for the power projects has been identified.
By segment, product sales brought in $97.9 million, services $140.8 million and power rental $29.1 million. Adjusted EBITDA was $30.3 million, and the company guided fourth-quarter adjusted EBITDA of $40 million to $50 million. Atlas, whose core business is proppant sand, said it has more than 23 million tons of sand allocated for 2027.
