 Hey everybody, welcome to JSA TV and JSA podcast, the newsroom for telecom and data center professionals. I'm Jamie Scott-Okataya, and joining me today is Bill Fathers, chairman and CEO for Cologix. Hey Bill, welcome to JSA TV. Thank you, Jamie, pleasure to be here. It's a pleasure to have you join us today. So many exciting things happening, incredibly busy time for you and your company. But before we go and get into all that, for those who may not know, tell us a bit about of course Cologix. Of course, Cologix is a North American data center company. We have at the moment about 40 data centers spread across 11 markets and we're very strong and have great presence in both Canada and in the United States. The way we differentiate is that we focus on network providers. So customers tend to come to our data centers to get access to over 650 networks. We also are host to many of the very large public Cloud players, public on-ramps, which are the places that customers come to connect to those Cloud players. So very network dense and we of course have ecosystems of customers who are present in our data centers because of the presence of other customers. On average, customers in our data centers are interconnected. Is the jargon we use with at least 15 other customers? So hopefully that gives you some idea of who Cologix are. Yes, absolutely. I love this particular new announcement that I was reading. Cologix recently announced its new innovative hyper-scale edge data center solution called ScaleLogix. Can you tell us more about ScaleLogix? Absolutely. Traditionally, in the last 10 or 15 years, applications that get put into Colocation Service Provider data centers either needed speed, i.e., they were trying to get access to networks as quickly as possible. Think about public Clouds, Apple TV, Netflix. They're all about low latency, get me to those networks. They want speed. The other applications wanted scale, massive data centers to accommodate the very fast-growing things like compute farms and storage farms that are often triggered by large amounts of processing in the public Cloud. In the last few years, there's been a group of applications that have come along that need both speed and scale. That's unique. So there are applications, certainly as public Cloud adoption has grown. People are putting part of their databases in the Cloud, part of it on-premises. Artificial Intelligence obviously is a good application for that where people interrogate AI databases in the public Cloud. A number of those, obviously, public streaming and the very large user-based public gaming platforms as well, require both very large scale and speed. We launched our product a couple of years ago, really, where we're starting to build very large data centers very close to the centers of gravity in our networking interconnection hubs, the digital edges, the jargon that gets used. That has really just grown and grown. What we've now found is having built three or four of these very large-scale facilities that demand has just ballooned. So we've given it a very specific product name of ScaleLogix, and we're now adding our sixth, seventh, and eighth ScaleLogix facilities at the moment. But that's what they're there for. It's for applications that not only need a large amount of scale, tend to 100 megawatts of power capacity, but they also care about where they are from a latency in the speed perspective. Talking about scaling and growing, most recently, Stonepeak announced a recapitalization. Could you provide us a bit more background on this and share what future opportunities this might bring to Cologix? Of course. About a year ago, we identified that as we diversify, not only we continue to grow our core business of carrier hotels and digital edge facilities, but we're going to need to start building very large-scale data centers. So we needed access to a lot more capital quickly and coming at a low cost of capital so we can be cost-effective. So we looked at our balance sheet and we looked at both equity and debt and we said, well, we're going to have to transform ourselves from having been a steady growing, highly profitable company that makes modest capital investments every year to one that can now invest billions of dollars a year to keep taking advantage of the market opportunity without sacrificing returns. So that's what we did. We went and refinanced both our equity and our debt. There's a bit of jargon gets involved, but basically the infrastructure fund that owns Cologix and has owned us for five years saw incredible long-term potential and so decided that what we would do is basically really capitalize. So Stone Peak still is the majority shareholder, but we've been able to attract new investment from new investors. We also refinanced our debt and moved to something called asset-backed securitization, which in the data center world is quite common now, but we were one of the first to do it at the scale we did it at. So we basically transformed our entire balance sheet to mean that we can now make investments like the ones we're just making at the moment and can do so knowing that we can do it for five or six years. So long-winded answer, but we've basically got access to stacks more money at low cost. How's that? Yeah, I love that. That's not even a better answer, I think. No, no, it's great though to actually say it and to verify that. So amazing. In talking market potential, you have 40 plus data centers in 11 markets. Do you have significant plans for a future expansion in the same markets? Or will you be entering any new markets? In the new markets, we expand all the time. Our carrier hotels are always growing to make sure that we can keep up with the demand of the networks and the applications that have to be right next to the center of gravity. In four markets at the moment, in Montreal, in Ashburn, in Toronto, actually Columbus, five markets, Columbus and Silicon Valley, we're currently building or have already built scale-logics facilities. In some cases in Montreal, we're building our third scale-logics facility. In Ashburn, we're building our first two in parallel. In Columbus, we're building our second and in Silicon Valley, we're adding a second on the same land as the first one. So we are basically tripling the size of the company in 18 months, which is a large chunk of that capacity is pre-leased. So there's not much spec build in there. It's nearly all pre-leased, which obviously starting from a smaller spot from other people, but it just gives you some sense of the scale of demand that we're seeing in the market. Wow, just an amazing growth story. So where can our viewers go to find out more? Cologics.com and of course, our social media presence across all of the usual social media platforms. Absolutely, Cologics.com guys. Thank you, Bill, for joining us. It's always an honor to have your thought leadership on our platforms and thank you viewers for tuning in to JSA TV and JSA Podcasts.