VITAL FUNDING MOVES META FORWARD
Last week, Meta Platforms and Blue Owl Capital revealed the duo would enter a new joint venture that would see the construction of a new data center campus in northeast Louisiana. The planned 2-gigawatt project will be located in the state’s Richland Parish and is reported to be the company’s largest global data center project to date. Funding from Blue Owl Capital was vital to setting in motion the approximately $27 billion project — the firm will own an 80% interest. Blue Owl has already made a $7 billion cash contribution toward the development, in addition to a one-time distribution of $3 billion to Meta. “We’re proud that our funds are partnering with Meta on the development of the Hyperion data center campus — an ambitious project that reflects the scale and speed required to power the next generation of AI infrastructure,” said Blue Owl Capital Co-CEOs Doug Ostrover and Marc Lipschultz. “Blue Owl’s ability to deliver substantial capital at scale, combined with our deep experience supporting hyperscalers, makes us uniquely positioned to help bring mission-critical digital infrastructure to life.” According to Meta Data Centers Vice President Rachel Peterson, construction activity has already begun at the site, The data center will create 500 jobs once complete.
Photo courtesy of Merck
MERCK CONTINUES U.S. INVESTMENT TOUR
Global pharmaceutical giant Merck has officially launched the construction of a new $3 billion manufacturing facility in Virginia. The new 400,000 sq. ft. plant will join operations at the company’s 85-year-old site in Elkton, enhancing space for active pharmaceutical ingredient and drug product investments to support small molecule manufacturing and testing. This project comes as another step in Merck’s greater $70 billion commitment to its U.S. manufacturing operations, which saw new production facility investments in North Carolina, Delaware and Kansas earlier this year. “This investment helps advance our goal of providing new, innovative treatment options for people facing serious health challenges in the U.S. and around the world,” said Merck Chair and CEO Robert M. Davis. The construction phase of the new Elkton facility will create up to 8,000 jobs and and plant will create 500 direct roles once operational. Merck’s press release notes that the company additionally plans to invest $3 billion into future biologics and small molecule facilities, as well as a fresh $3.5 upgrade to its Rahway, New Jersey, HQ.
Photo courtesy of Pennsylvania Department of Community and Economic Development
PITTSBURGH CAPTURES ENERGY INNOVATION
A $352.9 million investment decision will move Eos Energy Enterprises’ current New Jersey headquarters out of Edison and into Pittsburgh, Pennsylvania, by late 2026. The zinc-based battery energy storage systems manufacturer selected a 40,000-sq.-ft. office space at Nova Place in the city’s North Shore neighborhood, a strategic location to not only tap into expertise at local universities like Carnegie Mellon University, but to support the company’s growing operations. Eos Energy will further cement roots in Allegheny County with the expansion of its manufacturing capabilities, which includes leasing a 430,000-sq.-ft. facility in Marshall Township to integrate additional production lines. The company currently occupies two production plants in Turtle Creek with 265 employees between the two, although this expansion project will bring an influx of 735 new jobs to the region. “What we are announcing today is built upon a strong industrial history, combined with a world class university ecosystem,” said Eos Energy CEO Joe Mastrangelo. “Pennsylvania is positioning itself at the forefront of America’s energy transition — enabling us to bring America’s battery to scale.”
Reports compiled and written by Alexis Elmore
