CleanCore closed its first AI datacenter project: 200MW West Texas campus with $2B total venture valuation.

CleanCore Solutions, Inc. (NYSE American: ZONE) has entered into definitive agreements with HST Technologies to form a joint venture focused on developing, operating, and managing data center facilities for high-performance computing, artificial intelligence, cloud, and related uses. The transaction contemplates aggregate capital commitments of up to $2 billion, with CleanCore contributing up to $100 million in cash over nine months for a 99% capital interest.

Under the structure, HST Technologies contributes project-specific assets and a platform license in exchange for a 1% capital interest and a 20% carried participation. HST will serve as manager of the venture subject to CleanCore's approval on major decisions, with CleanCore retaining the right to remove HST for Cause. CleanCore receives a return of capital plus a 12% preferred return before any profits are split, with 80% flowing to CleanCore and 20% to HST. From January 1, 2035, CleanCore gains an annual option to acquire HST's carried participation at fair market value.

The first project is a 200-megawatt data center campus in West Texas, with potential expansion to more than 500 megawatts by 2030. CleanCore expects to fund the initial $100 million contribution by the first quarter of 2027. The company's exposure for non-funding is limited contractually to dilution, with no party permitted to compel funding or seek damages.

The agreements were signed on July 2, 2026, and closed on July 9, 2026. Alex Spiro continues as Chairman of the Board, and Tyler Hassen has been appointed Chief Executive Officer. According to Hassen, "As AI adoption increases rapidly and the demand for AI infrastructure continues to accelerate, we are actively focused on expanding our footprint of strategically located data center campuses. Closing our first data center project within weeks of signing our initial LOI reinforces the pace at which we're executing our strategy."

CleanCore cautions that forward-looking statements regarding anticipated benefits, financing, construction, permitting, market conditions, tenant demand, and completion are subject to risks and uncertainties, including the ability to obtain necessary governmental and third-party approvals, availability and cost of financing, construction and development risks, and other factors described in SEC filings.