Enhances scalable EPMS capabilities, strengthens hyperscale data center offering, and establishes a strategic foundation for Latin American growth.
- The deal expands AZZO's ability to deliver standardized EPMS across multi-site, mission-critical portfolios
- Qubits Energy brings proven expertise in deploying energy systems for hyperscale data centers and colocation providers
- Integration with AZZO's EnergyX® platform creates a unified solution for monitoring, control, and energy optimization
- The acquisition enhances automation capabilities through AI-enabled engineering and deployment
- AZZO gains an immediate operational footprint in Latin America via Qubits Energy's Colombia presence
- The combined business is positioned to support rapid global growth in data center and digital infrastructure markets
- The transaction strengthens AZZO's position in mission-critical infrastructure, where reliability and scalability are essential
NASHVILLE, Tenn., April 6, 2026 /PRNewswire/ -- AZZO, a leading energy technology and services company, today announced the acquisition of Qubits Energy, a specialist in Electrical Power Management Systems (EPMS), advanced automation, and energy management solutions for data centers and other mission-critical facilities.
The acquisition expands AZZO's ability to deliver standardized, high-performance energy management systems across global data center and critical infrastructure portfolios, while establishing a strategic foothold in Latin America.
Qubits Energy, headquartered in Nashville, Tennessee, has built a strong reputation for delivering EPMS across large, distributed environments. Its engineering-led approach enables rapid deployment, consistency across sites, and high operational reliability.
By integrating Qubits Energy's capabilities into its EnergyX® platform, AZZO will deliver a unified architecture for monitoring, automation, and control across complex energy environments. This integration enhances AZZO's ability to support customers operating at scale specifically in high-growth sectors such as data centers.
Qubits Energy brings established relationships with hyperscale data center owners and major colocation providers, supporting environments where uptime, scalability, and speed of deployment are critical. These capabilities complement AZZO's EnergyX® platform and lifecycle services, positioning the combined organization to deliver consistent energy management systems across global portfolios, support rapid expansion of data center infrastructure in North America, and improve operational efficiency and reliability at scale.
The acquisition also provides AZZO with an established operational presence in Colombia, creating a foundation for growth across Latin America, a region experiencing increasing demand for digital infrastructure and energy resilience. This presence enables local engineering and delivery capabilities, supports global customers expanding into LATAM markets, and allows for scalable deployment of EnergyX® solutions across emerging data center hubs.
James DiLiberto, CEO of AZZO, said:
"Data center growth is accelerating globally, driving demand for standardized, scalable energy management solutions. Qubits Energy has demonstrated the ability to deliver these systems across complex, multi-site environments. By combining their expertise with AZZO's EnergyX® platform and lifecycle services, we can offer a unified solution to support the next generation of mission-critical infrastructure."
Ivan Ospina, CEO of Qubits Energy, added:
"Joining AZZO enables us to expand our reach and deliver our EPMS and automation capabilities on a global scale. Together, we are well positioned to provide intelligent, standardized energy systems to some of the world's most demanding data center environments."
Qubits Energy's team and solutions will be integrated into AZZO immediately. AZZO plans to accelerate investment in AI-driven automation and mission-critical services within its EnergyX® platform.
About AZZO
AZZO is an energy technology and services company that helps customers manage complex energy ecosystems. With over 20 years of experience, AZZO specializes in microgrids and energy management for critical infrastructure. Its EnergyX® platform provides real-time visibility, control, and analytics to deliver energy resilience, improved economics, and operational flexibility. For more information, please visit www.azzo.com.
About Qubits Energy
Qubits Energy delivers standardized Electrical Power Management Systems (EPMS) for mission-critical facilities, with a focus on multi-site data center environments. Its engineering-led approach and automation capabilities enable consistent, high-performance implementations across global portfolios. For more information, please visit www.qubitsenergy.com.
** This press release is distributed by PR Newswire through automated distribution system, for which the client assumes full responsibility. **
AZZO Acquires Qubits Energy to Deliver Scalable Energy & Power Management for Data Centers and Other Mission-Critical Facilities
AZZO Acquires Qubits Energy to Deliver Scalable Energy & Power Management for Data Centers and Other Mission-Critical Facilities
|
Latest financing builds on recent capital momentum for structurally important American iron ore project
NASHWAUK, Minn., April 6, 2026 /PRNewswire/ -- Mesabi Metallics Company LLC (Mesabi Metallics), backed by Essar Group, today announced that it has secured $150 million of financing from Macquarie Group, supporting the Q3 2026 startup of its world-scale Direct Reduction (DR) grade iron ore mine and pellet plant in Nashwauk, Minnesota.
The financing follows Mesabi's recently announced $520 million senior secured credit facility with Breakwall Capital, further reinforcing the strong momentum behind the project.
Mesabi has also recently received support from the U.S. Export-Import Bank (EXIM), reflecting the project's growing strategic importance to U.S. manufacturing, infrastructure, automotive, shipbuilding and defense.
Mesabi Metallics is building a strategically important new American source of DR-grade iron ore at a time when the United States is working to strengthen industrial supply chains and reduce reliance on imported raw materials.
Located on more than 16,000 acres in Northern Minnesota, Mesabi Metallics is completing a $2.5 billion world-scale merchant DR-grade iron ore mine and pellet plant that will supply the next generation electric arc furnaces of American steelmaking- the cleanest and most energy efficient way of making high quality steel.
With more than 800 construction workers currently on site, the project is one of the largest private-sector industrial investments in Minnesota's history. Essar Group has already invested more than $2 billion of equity into the project.
"This financing from Macquarie marks another major step forward for Mesabi Metallics and builds on the strong momentum we have established with our recently announced financial partnerships," said Joe Broking, President and CEO of Mesabi Metallics. "Together, these transactions reflect growing confidence in the quality, scale and strategic importance of our project as we build a new American source of DR-grade iron ore to strengthen domestic steel supply chains and reduce dependence on imports."
"Macquarie has enjoyed a longstanding financing relationship with Essar Group, and we are pleased to extend that relationship to their metals and mining investments in the US," said Mike Burns, Senior Managing Director in Macquarie Group's Commodities and Global Markets business. "Mesabi is developing a high-quality and strategically important project for the U.S. steel sector, and we look forward to supporting the company over the long term."
About Mesabi Metallics Company LLC
Mesabi Metallics Company LLC, an Essar Group company, is constructing a state-of-the-art mine and Direct Reduction (DR) grade iron ore pellet plant to produce premium DR grade pellets on over 16,000 acres in Nashwauk, Minnesota. Once completed, it will be the first new mine and pellet plant in Minnesota in almost 50 years. Mesabi's DR grade iron ore pellets will be strategically positioned to meet the demand of the Electric Arc Furnace market, ensuring supply chain security for DR grade iron pellets in the United States and replacing foreign imported pellets. The endeavor is one of the largest private sector investments in Minnesota. Mesabi Metallics has already invested over $2.2 billion into the project.
Latest financing builds on recent capital momentum for structurally important American iron ore project
NASHWAUK, Minn., April 6, 2026 /PRNewswire/ -- Mesabi Metallics Company LLC (Mesabi Metallics), backed by Essar Group, today announced that it has secured $150 million of financing from Macquarie Group, supporting the Q3 2026 startup of its world-scale Direct Reduction (DR) grade iron ore mine and pellet plant in Nashwauk, Minnesota.
The financing follows Mesabi's recently announced $520 million senior secured credit facility with Breakwall Capital, further reinforcing the strong momentum behind the project.
Mesabi has also recently received support from the U.S. Export-Import Bank (EXIM), reflecting the project's growing strategic importance to U.S. manufacturing, infrastructure, automotive, shipbuilding and defense.
Mesabi Metallics is building a strategically important new American source of DR-grade iron ore at a time when the United States is working to strengthen industrial supply chains and reduce reliance on imported raw materials.
Located on more than 16,000 acres in Northern Minnesota, Mesabi Metallics is completing a $2.5 billion world-scale merchant DR-grade iron ore mine and pellet plant that will supply the next generation electric arc furnaces of American steelmaking- the cleanest and most energy efficient way of making high quality steel.
With more than 800 construction workers currently on site, the project is one of the largest private-sector industrial investments in Minnesota's history. Essar Group has already invested more than $2 billion of equity into the project.
"This financing from Macquarie marks another major step forward for Mesabi Metallics and builds on the strong momentum we have established with our recently announced financial partnerships," said Joe Broking, President and CEO of Mesabi Metallics. "Together, these transactions reflect growing confidence in the quality, scale and strategic importance of our project as we build a new American source of DR-grade iron ore to strengthen domestic steel supply chains and reduce dependence on imports."
"Macquarie has enjoyed a longstanding financing relationship with Essar Group, and we are pleased to extend that relationship to their metals and mining investments in the US," said Mike Burns, Senior Managing Director in Macquarie Group's Commodities and Global Markets business. "Mesabi is developing a high-quality and strategically important project for the U.S. steel sector, and we look forward to supporting the company over the long term."
About Mesabi Metallics Company LLC
Mesabi Metallics Company LLC, an Essar Group company, is constructing a state-of-the-art mine and Direct Reduction (DR) grade iron ore pellet plant to produce premium DR grade pellets on over 16,000 acres in Nashwauk, Minnesota. Once completed, it will be the first new mine and pellet plant in Minnesota in almost 50 years. Mesabi's DR grade iron ore pellets will be strategically positioned to meet the demand of the Electric Arc Furnace market, ensuring supply chain security for DR grade iron pellets in the United States and replacing foreign imported pellets. The endeavor is one of the largest private sector investments in Minnesota. Mesabi Metallics has already invested over $2.2 billion into the project.
** This press release is distributed by PR Newswire through automated distribution system, for which the client assumes full responsibility. **
Mesabi Metallics Secures $150 Million from Macquarie Group
