hscale

What hscale does

HSCALE is a London-headquartered, pan-European hyperscale data center development platform that designs, builds, and operates custom, AI-ready data center facilities for hyperscalers and cloud service providers. Founded in 2025, the company was formed through Bain Capital's October 2024 acquisition of an 80% stake in AQ Compute, Aquila Group's data center business, with Aquila Group retaining 20% ownership. HSCALE's core product portfolio spans Build-to-Suit facilities, Dedicated Buildings, Whitespace, and Turnkey Deploy services, all engineered on a proven, repeatable design framework that supports rack densities of 130kW+ per rack for AI and GPU-intensive workloads and offers flexible cooling architectures (air-cooled, direct liquid-cooled, and hybrid). The platform operates or is developing campuses in Oslo (200MW planned), Milan (250MW committed, ~€2B invested), Madrid (192MW planned), and Barcelona (50MW planned), with a 1GW+ development pipeline across EMEA and Dubai, and currently runs one 6MW fully leased operational facility in Hønefoss, Norway.

HSCALE's business model is built on long-term wholesale and build-to-suit leasing of custom data center capacity directly to a small set of hyperscaler and cloud service provider clients, with pricing handled through bespoke, quote-based enterprise contracts. Go-to-market is entirely direct enterprise sales, supported by event-driven industry presence (Gold Sponsorship at Datacloud Global Congress, PTC'26, and DCD> Investment) and CEO/CTO thought leadership on AI infrastructure and high-density design. The company is differentiated by a strategic capital base (Bain Capital backing with multi-billion Euro investment capacity and access to Aquila Clean Energy renewable PPAs), leadership experience (6.85 GW collectively delivered across EMEA and APAC), and rapid-delivery claims enabled by its standardized yet customizable design framework. Revenue streams include recurring subscription-style data center leasing, managed-services-style turnkey deploy offerings, and wholesale capacity contracts, with ISO 27001 certification (November 2025) supporting enterprise-grade security governance.

Name

hscale

Legal name

hscale Limited

Website

https://hscaledc.com

Company type

Private

Founded year

2025

Operating status

Operating

Headcount range

11–50 employees

Short description

HSCALE is a London-based, Bain Capital-backed pan-European hyperscale data center platform that designs, builds, and operates custom, AI-ready data center facilities for hyperscalers and cloud service providers, with a 1GW+ development pipeline across EMEA.

Ownership category

akta.pro rank

Product category

Hyperscale Data Centre Infrastructure

NAICS

Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (5182), Computer Facilities Management Services (541513)

SIC

Services-Facilities Support Management Services (8744), Services-Computer Integrated Systems Design (7373)

akta.pro industry

PRIMARYHDABACAC

Hyperscale Data Center Campuses (Build-to-Suit)

Hardware, Technology & Telecom/Cloud & Data Center Infrastructure/Data Center Facilities & Colocation

Keywords

• Hyperscale data centres
• Build-to-suit facilities
• Data centre development
• Liquid cooling infrastructure
• AI-ready colocation

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices9 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Supply Chain, Technology or R&D, Personnel, Operations, Marketing or Sales

Revenue model

1. Data Centre Leasing: Long-term leasing of custom-built and build-to-suit data centre facilities to hyperscalers and cloud service providers. Revenue generated through whitespace and dedicated building arrangements with flexible configurations.
2. Turnkey Deploy Services: Pre-configured deployment-ready spaces with round-the-clock support, enabling faster time-to-market for customers.
3. Wholesale Capacity: Flexible wholesale capacity arrangements where customers control physical infrastructure placement, offering highest speed to market.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels6 records

Core offering

hscale designs, builds, and operates custom, scalable hyperscale and AI-ready data centre facilities for hyperscalers and cloud service providers across EMEA. The platform offers a portfolio of infrastructure delivery models — Build-to-Suit, Dedicated Buildings, Whitespace, and Turnkey Deploy — supported by modular architecture, flexible cooling (air, liquid, hybrid) supporting rack densities of 130kW+, and 100% renewable energy integration. Operational campuses include OSL1 in Hønefoss, Norway, with development pipeline spanning Milan, Frankfurt, Madrid, Barcelona, and additional EMEA sites.

Product overview

HSCALE is a pan-European hyperscale data centre platform offering a portfolio of infrastructure services including Build-to-Suit, Dedicated Buildings, Whitespace, and Turnkey Deploy solutions. The platform operates multiple campus developments across EMEA (Oslo, Milan, Madrid, Barcelona) providing custom-designed, AI-ready facilities with flexible cooling options (air-cooled, direct liquid-cooled, hybrid). The offering spans from fully customised build-to-suit facilities to deployment-ready turnkey spaces, supported by comprehensive fit-out services.

Differentiator

Problem solved

Functional benefit

Products and services

• Build-to-Suit Fully customised data centre facilities purpose-engineered to meet specific technical, operational, and capacity requirements of individual hyperscalers. Combines industry expertise with a proven, repeatable design framework that can be replicated across multiple sites and regions.
• Dedicated Buildings Purpose-built data centre buildings designed with modular and scalable architecture aligned with global hyperscaler standards, following a standardised, reusable design developed for hyperscalers and replicated globally.
• Whitespace Flexible wholesale capacity that gives customers full control over placement of breakers, outlets, and network connections so they can tailor the space to exact design and operational requirements for maximum efficiency.
• Turnkey Deploy Deployment-ready spaces with breakers and outlets pre-installed, supported 24/7, enabling customers to rack equipment, connect to the network, and go live quickly with the fastest route to market.
• OSL (Oslo) Campus Multi-campus data centre development near Oslo, Norway, including the operational OSL1 facility (fully leased) in Hønefoss, OSL2 (AI-ready racks 130kW+, targeting RFS Q2 2027), and OSL3 (planned 120MW IT load). Secured power supports up to 150MW IT capacity with 200MW planned across the three standalone campuses.
• MXP (Milan) Campus Two-campus data centre development in West and East Milan, Italy, comprising MXP1 (48MW campus with phased delivery, RFS Q4 2027) and MXP2 (120MW campus, RFS Q3 2028). Total committed power capacity of 250MW with approximately €2 billion investment in the region.
• MAD (Madrid) Campus Southwest of Madrid data centre campus featuring 4 buildings with 2 floors per building. Planned IT load of 192MW with 100% green energy and direct connection to a PV farm. Data hall capacity of 6MW with 12MW per phase.
• BCN (Barcelona) Campus Located in North Barcelona, Parc de l'Alba, between Cerdanyola del Vallés and Sant Cugat del Vallès. 5 buildings on site with 10MW under construction. Features 11–130kW rack density, chilled water cooling with freecooling, target annual PUE of 1.2, and 80MVA power available for 50MW planned IT load. Target RFS Q4 2026.

Quantifiable outcome

• Target Design PUE of <1.2 across facilities
• +2 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Six partnerships are on record, tiered minor and core.

• Gulf Data Centre Association (GDCA)minorOthers · 17 November 2025Membership in GDCA enables collaboration with industry leaders to drive innovation, enhance sustainability, and support the long-term growth of the regional data centre ecosystem in the Arabian Gulf region.
• Aquila Clean EnergycoreStrategic or Co-development Partner · 30 October 2024Strategic partnership for renewable energy solutions, PPAs, and co-development of projects integrating data centres with renewable energy infrastructure. This partnership enables HSCALE to offer 100% renewable energy options to customers and supports ESG commitments.
• CleanHubminorStrategic or Co-development PartnerPartnership with CleanHub supports collection of plastic waste from oceans, helping to protect marine environments and promote sustainability. Part of HSCALE's social and environmental responsibility commitments.
• Norsk Datacenterindustri (Norway Data Centre Industry)minorOthersIndustry membership supporting the Norway data centre sector.
• Spain DCminorOthersIndustry membership supporting the Spanish data centre sector.
• Germany Data Center Association (GDA)minorOthersIndustry membership supporting the German data centre sector.

Scale indicators11 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• EdgeConneX: Specialist hyperscale and edge data centre provider offering build-to-suit solutions. Highly comparable business model focused on custom facilities for cloud and content providers.
• Iron Mountain Data Centers: Enterprise and hyperscale data centre operator with significant colocation portfolio. Competes for hyperscaler build-to-suit opportunities and offers similar high-density, secure facilities.
• Stack Infrastructure: Hyperscale-focused data centre developer backed by IPI Partners. Competes directly in the build-to-suit hyperscale segment with similar AI-ready infrastructure offerings and EMEA presence.
• Vantage Data Centers: Pure-play hyperscale data centre developer with major EMEA expansion. Direct competitor for hyperscaler build-to-suit engagements; similar focus on AI-ready high-density designs and sustainability.
• CyrusOne: Hyperscale and enterprise data centre operator (KKR/GIP owned). Comparable in targeting hyperscaler customers with large-scale custom-built facilities, particularly in European markets.
• DataBank: Edge colocation and hyperscale data centre provider with growing European footprint. Competes in the build-to-suit hyperscale space with similar custom facility offerings.

Broad incumbents

• Digital Realty: Major global data centre REIT with significant hyperscale PlatformDIGITAL offering. Direct competitor for hyperscaler build-to-suit contracts across European markets including Frankfurt, Madrid, and Northern Europe.
• Equinix: Global colocation and hyperscale data centre operator with extensive EMEA footprint. Closest comparable on scale and hyperscaler focus, though Equinix's portfolio is broader and includes retail colocation alongside hyperscale build-to-suit.
• NTT Global Data Centers: Global data centre platform owned by NTT. Operates large-scale facilities across major European cities including Frankfurt and Madrid, directly competing for hyperscaler lease arrangements.

Regional players

• Mainova WebHouse: Frankfurt-based hyperscale data centre platform where HSCALE CEO Oliver Schiebel was previously CEO. Operates in the same European hyperscale market and is a relevant predecessor/comparable business, though smaller in scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/hscale

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about hscale