X2M Connect has entered into a binding agreement to provide managed delivery services and ongoing management for an AI-enabled, graphics processing unit (GPU)-based data centre in Australia.
The value of the contract is estimated to exceed A$250m ($179.7m) over the project lifecycle.
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The contract marks the company’s first conversion from its Australian development prospect pipeline, which currently totals around 150MW.
Under the terms, X2M Connect will deliver design, engineering, supply, installation, commissioning, and operational services for the facility, in line with staged work scopes agreed with the customer.
The project cost, estimated for full delivery over a three-to-five-year period, is expected to be recognised as revenue for X2M Connect, alongside recurring platform and management fees throughout the facility’s lifespan.
The agreement, which is conditional on development approval, does not specify the precise megawattage.
The targeted data centre is intended for high-density AI workloads using GPU-accelerated compute, addressing significant power and cooling demands.
Suppliers of global compute and AI chip technologies, as well as providers of networking, energy, telecommunications, and research, have been approved by the customer for potential engagement by X2M Connect.
The agreement provides a pathway for the company to contract with these pre-approved partners, while allowing for additional selections with customer approval.
Although the agreement is non-exclusive, X2M Connect has exclusive access to the established supplier panel.
X2M Connect’s Australian data centre pipeline is focused primarily in Queensland and includes sites from 1MW upwards, with some already holding development approval.
The company is working with supplier partners to progress its prospect pipeline of around 150MW.
X2M Connect CEO Mohan Jesudason said: “This agreement is transformational for X2M. We play a key role in the data centre delivery, and that in turn creates a materially large business opportunity for us.
“We are excited at the prospect of delivering services from some of the top providers in the world and offering a comprehensive service to this customer and land and data centre owners across the country.”
X2M Connect’s core business includes smart city technology and platform services supporting utilities and government clients in five international markets.
The company provides design, supply, and operational services for data centre and energy infrastructure, delivering connectivity and real-time data exchange across more than 500,000 devices.
