Equinix Expands in Montreal to Support Growing Financial Services, Gaming, Aerospace Sectors
With a $50M investment, new data center adds strategic digital infrastructure capacity to support customer expansions in one of the fastest growing edge metros in the world
REDWOOD CITY, Calif. and MONTREAL, April 5, 2023 /PRNewswire/ -- As Montreal continues to expand its position as a world leader in industries such as Visual Effects (VFX), gaming, financial services and aerospace, Equinix, Inc. (Nasdaq: EQIX), the world's digital infrastructure company™, today announced a new state-of-the-art International Business Exchange™ (IBX®) data center in Montreal. The new facility is expected to open in the second half of 2023.
Known as MT2, the new site will expand Equinix's presence in Montreal and continue the company's commitment to bring the full value of Platform Equinix® and its portfolio of solutions to Canadian businesses. Montreal is a key economic center in Canada and globally, as well as a major innovation hub with one of the largest concentrations of technology workforces in Canada.
Andrew Eppich, Managing Director at Equinix Canada, noted, "MT2 represents a major milestone in our investment to bring the best of Equinix to Canada and the best of Canada to the world. Montreal is a key economic center in Canada and globally, with a thriving and innovative ecosystem known for its diversity, creativity and collaborative spirit. Expanding our footprint in this metro will offer companies the best-in-class data center design with access to connectivity both globally and within Canada, so they can advance on their digital infrastructure and innovation journey at home and abroad."
Montreal is also one of the fastest growing edge metros in the world, with its interconnection bandwidth forecasted to grow by a 46% CAGR by 2025, according to the Global Interconnections Index 2023, a report published by Equinix. Edge metros are those locations primarily used as the interface between the physical and digital worlds, as organizations connect to customers, edge devices and places of business and participate in local marketplaces. In recent years, the city has also established itself as one of the top tech hubs in North America, attracting top talent and investment from around the world, with a large ecosystem of industries like Gaming, Aerospace and Financial Services, for example.
According to Jason Bremner, Research Vice President, Industry and Business Solutions, IDC, "Montreal is a vital innovation hub fueling Canada's economy. With the expanded presence, Equinix can help empower local businesses' digital transformation journeys with its extensive reach in Canada as well as globally, and its innovative and sustainable offerings."
Equinix's new facility will allow companies to directly connect to customers, partners and services across 50+ metros around the world through solutions like Equinix Fabric® and Equinix Internet Exchange®. Customers can also leverage Equinix's digital services to build digital infrastructure securely and rapidly at software speed with automated bare metal and virtual network services to connect and consume network on demand.
Equinix is committed to optimizing overall power use by operating its data centers within wider temperature ranges. MT2 is expected to be among the first cohort of data centers to support Equinix's efficiency commitment to sustainable air-cooling practices by aligning the operating temperature boundaries with the globally accepted standards described by the American Society of Heating, Refrigerating and Air-Conditioning Engineers (ASHRAE) A1A. Optimizing cooling operations within these standards improves data center efficiency, which can result in a reduction in customers' Scope 3 carbon emissions associated with their MT2 deployment.
Equinix was the first company in the data center industry to commit to becoming climate neutral globally across its Scope 1 and 2 emissions by 2030, in conjunction with an approved near-term science-based target to reduce emissions, and aligned to the Paris Agreement 1.5-degree scenario. The company also has committed to achieving 100% renewable energy coverage across its global portfolio by 2030.
Once open, the new site will expand Equinix's Canadian footprint to 16 high-quality IBX data centers coast to coast and will provide customers a digital on-ramp to Equinix's global platform of more than 245 data centers. It will add more than 37,000 square feet of colocation space and offer global connectivity to better serve Montreal-based organizations' growing demand for digital infrastructure services.
- Equinix Named a Leader in 2022 IDC MarketScape Report for Canadian Datacenter Colocation and Interconnection Services [Press release]
- Equinix expands its digital services to empower Canadian business from coast to coast [Press release]
- Equinix Launches Montreal As Second Metro to Offer Equinix Fabric in Canada [Press release]
- Equinix to "Adjust the Thermostat" to Optimize Data Center Energy Use [Press release]
- Global Interconnections Index Vol. 6 [Report]
Equinix (Nasdaq: EQIX) is the world's digital infrastructure company™. Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.
This press release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from expectations discussed in such forward-looking statements. Factors that might cause such differences include, but are not limited to, risks to our business and operating results related to the COVID-19 pandemic; the current inflationary environment; foreign currency exchange rate fluctuations; increased costs to procure power and the general volatility in the global energy market; the challenges of acquiring, operating and constructing IBX® and xScale® data centers and developing, deploying and delivering Equinix products and solutions; unanticipated costs or difficulties relating to the integration of companies we have acquired or will acquire into Equinix; a failure to receive significant revenues from customers in recently built out or acquired data centers; failure to complete any financing arrangements contemplated from time to time; competition from existing and new competitors; the ability to generate sufficient cash flow or otherwise obtain funds to repay new or outstanding indebtedness; the loss or decline in business from our key customers; risks related to our taxation as a REIT and other risks described from time to time in Equinix filings with the Securities and Exchange Commission. In particular, see recent and upcoming Equinix quarterly and annual reports filed with the Securities and Exchange Commission, copies of which are available upon request from Equinix. Equinix does not assume any obligation to update the forward-looking information contained in this press release.
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SOURCE Equinix, Inc.
Released April 5, 2023