Five Years In

This month marks an important moment for Rowan. We’re celebrating our five-year anniversary and taking a moment to reflect on the truly incredible progress we’ve made.

In just five years, we have built something substantial, durable, and differentiated in one of the most demanding sectors of the global economy.

Rowan was founded on a simple but ambitious conviction: digital infrastructure could be developed differently – by putting our customers at the center of everything we do and operating with greater intention, transparency, responsibility, and partnership. By leading with those values and embedding them in every decision, we knew we could deliver truly sustainable, hyperscale data centers that meet the demanding requirements of our customers; customers who are on the front lines of deploying computing technologies that are creating generational change in how we tackle some of the world’s biggest challenges.

Today, that conviction is highly visible across a national platform that continues to scale with discipline and speed. As we close out another exceptional year, this is a great moment to capture a snapshot of just how far we have come in a short period of time.

FROM CONCEPT TO CONSTRUCTION — NATIONWIDE

In just five years, Rowan has grown from an idea into a company with nearly two gigawatts of capacity in active construction across six campuses in key data center markets coast to coast. We now have three projects in Maryland totaling more than 630 megawatts, two in Texas (Lytle and Temple) totaling 600 megawatts, and one in Oregon at approximately 300 megawatts. They represent real projects under construction, real power being delivered, and real customers coming online.

And our talented team has scaled alongside the platform. Today, Rowan employs more than 120 people with deep expertise spanning development, construction, finance, sustainability, and operations. Many come directly from hyperscale companies, utilities, and leading infrastructure firms. This year, we also welcomed Stephen Jenkins as Chief Development Officer, further strengthening our leadership bench as we continue to grow nationally. And we made the decision to establish Denver as our permanent home, anchoring the company in a place that reflects the caring, collaborative, and creative spirit of the men and women that show up here every day.

MASSIVE FINANCING EFFORTS UNDERSCORE ROWAN’S STRATEGY

Our execution has been matched by our ability to attract and deploy capital at scale. To date, Rowan’s financial team has secured nearly $4 billion in construction financing, including multiple facilities structured under a newly developed green loan framework that aligns capital deployment with long-term sustainability objectives. This year, we also secured hundreds of millions to continue growing our pipeline, providing additional flexibility and balance sheet strength to responsibly expand our ambitious development pipeline. And, our economic development team has secured incentive agreements with several local jurisdictions leading to investments in the billions. These are transformational milestones, both for our company and for the communities where we operate.

A DEFINING YEAR FOR PROJECT DELIVERY

This year also marked a defining moment for Rowan as a builder. We successfully energized and turned over our first campus, Bauxite I in Frederick County, Maryland. For those in this industry, energization is the ultimate proof point. It reflects years of coordination across utilities, regulators, partners, and teams. We published our first sustainability case study alongside this milestone, demonstrating how our responsible development approach translates into industry-leading outcomes. Bauxite I sets a high bar, and we fully expect future campuses to meet or exceed it.

EARNING TRUST WHERE WE BUILD

Community engagement is core to how we operate. Our transparent approach has earned us support from economic development leaders, local officials, school districts, nonprofits, organized labor, and community stakeholders. This year in Frederick County, Maryland, we released our first Community Impact Report, detailing our local presence and priorities, including more than $6.8 million invested by Rowan and our partners beyond the scope of development. We also welcomed hundreds of community members to open houses in both Frederick County, and Medina County, Texas, reinforcing our commitment to being present, accessible, and accountable. This work has a deep human element to it that informs every decision we make.

HELPING SHAPE THE INDUSTRY CONVERSATION

As discussions around AI infrastructure, power availability, financing, and sustainability accelerated globally, Rowan played an active role in shaping them. Our team delivered keynotes and participated in more than 15 major conferences around the world, contributing perspective on what it takes to deliver at scale while remaining disciplined, responsible, and customer focused. We earned recognition for our power strategy and our rapid growth. Our team provided valuable insights to media outlets with both worldwide reach and circulation in the hundreds, taking every opportunity to redefine what digital infrastructure development can mean for investors, regulators, neighbors, and more.

LOOKING AHEAD

Taken individually, these milestones are meaningful. Taken together, they reflect the foundation of an innovative platform built for longevity.

This is a moment in time, not a destination. Demand for compute and power will continue to accelerate, and expectations around execution and responsibility will rise alongside it. Rowan is exceptionally well positioned to meet that future. Our focus remains unchanged: disciplined development, long-term partnerships, and infrastructure built to last.

We are proud of what Rowan has built in five years. We are even more focused on what comes next.