NextDC completes share purchase plan

The $9.93 million will complement the $41.39 million raised in the company’s April placement

NextDC (ASX:NXT) has netted some $9.93 million following the completion of its 2012 share purchase plan.

The $9.93 million will complement the $41.39 million raised in the company’s April placement to give the company a $51.32 million war chest.

According to an ASX statement NextDC will use the newly acquired funds to accelerate the fit out of a number of its datacentres as well as for additional working capital and potential acquisitions.

With the capital raising the company now has more than $200 million of equity and approximately $80 million in cash.

In March NextDC announced it would move to reduce the carbon footprint of its data centres through adopting photovoltaic technology to power its M1 data centre, based in Port Melbourne.

The $1.2 million, 400kW solar panel-based system will be the largest privately-owned photovoltaic system, according the company, and will generate around 550 MWh per annum, offsetting around 670 tonnes of carbon dioxide per annum.

At the time, Bevan Slattery, CEO at NextDC, told Computerworld Australia that the installation of the solar panels is part of the company’s strategy to develop “next generation data centres”.

“One of the things that we absolutely have to focus on is delivering kilowatts or processing power for our clients … as cost effective as possible. Solar is one of our carbon reduction initiatives, [amongst] a number of [things],” Slattery said. “So for us it’s a pretty straight forward investment.”

In February NextDC said had posted a loss in net profits after tax of $3.26 million for the six months to 31 December 2011, attributable to start-up costs of its first data in Brisbane which went live in October.

In a statement to the ASX, the company noted the loss was reflective of the startup nature of the business, which was founded in May 2010, and early stage revenue growth.

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