Exusia Digital
Investors

Location to be confirmed

HPC Research Cluster

Evidence tier: Modelled

High-performance computing capacity for a sovereign or institutional research partnership, with energy economics underwritten by group generation.

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Illustrative image

Key facts

Every figure, with its tier.

CapacityTo be confirmedEvidence tier: Modelled
All-in power costTo be confirmedEvidence tier: Modelled
Capex bandTo be confirmedEvidence tier: Modelled
Energisation target2029Evidence tier: ModelledAs at August 2026. Financial model v3
Primary workloadScientific computing, simulation, renderingEvidence tier: ModelledAs at August 2026. Financial model v3
Energy sourceTo be confirmedEvidence tier: Modelled

Milestones

0 of 9
  1. Site identified, nextDate to be set
  2. Energy source agreed, to comeDate to be set
  3. Land secured, to comeDate to be set
  4. FEED commenced, to comeDate to be set
  5. Permits granted, to comeDate to be set
  6. Final investment decision, to comeDate to be set
  7. Construction start, to comeDate to be set
  8. Energisation, to comeDate to be set
  9. Commercial operation, to comeDate to be set

Done dates are recorded. Future dates are targets, not commitments.

Why it matters

Sovereign and institutional compute is the workload with the longest contract tenor and the least price sensitivity, which makes it the most bankable of the three.

Economics

All-in delivered power cost.

Evidence tier: Modelled

$0.042/kWh

Exusia Digital at Ughelli, on associated gas: fuel, O&M and generation capex recovery included.

As at August 2026. Financial model v3
All-in delivered power cost, US dollars per kWh
SourceRangeUS$ per kWhEvidence tier
Exusia Digital, Ughelli 0.042 Evidence tier: Modelled
Nigerian grid, industrial 0.09 to 0.13 Evidence tier: Illustrative
Diesel generation, Lagos 0.28 to 0.35 Evidence tier: Illustrative
US merchant power, ERCOT 0.03 to 0.05 Evidence tier: Illustrative

US dollars per kWh. Comparators are illustrative ranges. We publish the comparison least flattering to us (ERCOT) because an investor will find it anyway.

See the assumptions

The rest of the portfolio

Other projects

All projects

Delta State, associated gas

Ughelli Modular Site

Evidence tier: In development
Capacity5.5 MW
Power cost$0.042 /kWh
Capex band$18M to 24M
EnergisationQ3 2028

4 of 9 done, next: permits granted in Q3 2027

Lagos, group-owned gas generation

Lagos AI Compute Pilot

Evidence tier: Modelled
Capacity2.0 MW
Power costTo confirm
Capex band$9M to 12M
Energisation2029

1 of 9 done, next: energy source agreed