TECfusions, a developer and operator of AI-focused data centres, has signed an agreement with Apex Treasury for a $4bn all-stock business combination.
The deal is set to result in TECfusions becoming a publicly traded company on Nasdaq under the “TECF” ticker symbol.
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To support the merger, Apex Treasury has arranged a $35m private investment in public equity (PIPE) at $10.00 per share with make-whole protections and a committed resale registration.
Upon completion, TECfusions’ current management team will continue to lead the combined company.
TECfusions specialises in data centres designed to support AI infrastructure. The company is developing sites in Clarksville, Virginia; Tucson, Arizona; and New Kensington, Pennsylvania.
At present, it has 37MW live in Clarksville, 16MW live and 12MW contracted in Tucson, and 2MW live with 10MW contracted in New Kensington.
The firm’s strategy focuses on re-purposing older industrial properties combined with integrated power infrastructure and low water usage cooling.
This approach is intended to speed up deployment, provide resilience, and lower capital expenditure, according to the company.
The portfolio’s development plan, aiming for 3GW or more, is designed to address the increasing demand and constraints in the AI data centre market.
TECfusions founder Simon Tusha said: “This transaction marks an important milestone for TECfusions and reflects the strength of our strategy to build AI-ready infrastructure where power availability, speed, and execution matter most.
“We believe the opportunity is being driven not only by rising AI demand, but also by the growing scarcity of power-secured capacity and the need for faster, more flexible deployment models.”
The transaction, approved by the boards of both companies, is expected to close in the fourth quarter of 2026, subject to shareholder and regulatory approvals.
