Investment from Machine Investment Group, Atlas Holdings, Conversant Capital, and other investors provides capital to address near-term debt maturity and advance development opportunities;
Transaction positions Vulcan to advance more than 100 MW of immediate and near-term AI/HPC opportunities, alongside a 654 MW development pipeline across owned sites
PITTSFORD, NY / ACCESS Newswire / September 10, 2026 / Vulcan Infrastructure and Power Inc. (NASDAQ:VIP) (“Vulcan” or the “Company”),a power and infrastructure platform focused on acquiring, developing, and operating energized sites that support artificial intelligence (“AI”) and high-performance computing (“HPC”) data centers, today announced the closing of its previously announced approximately $39.4 million strategic investment from affiliates of Machine Investment Group (“Machine”) and Atlas Holdings (“Atlas”),[1] together with institutional investors including Conversant Capital (“Conversant”) and certain company insiders.
The transaction marks an important milestone in Vulcan’s transformation into a power and digital infrastructure platform focused on sourcing, developing, operating, and monetizing energized assets to support the growing demand for AI/HPC infrastructure. The strategic investment was originally announced on July 20, 2026.
“This closing marks an important inflection point for Vulcan, significantly strengthening our financial position while bringing together capital, industry relationships, and operating expertise to support the next phase of our growth,” said Jordan Kovler, Chief Executive Officer of Vulcan Infrastructure and Power. “With more than 100 MW of immediate and near-term opportunities at our owned sites, a 654 MW development pipeline, and a significantly broader opportunity set available through our strategic relationships, our focus now shifts squarely to execution.
Transaction Significantly Strengthens Vulcan’s Financial Position
Upon closing of the transaction, Vulcan issued to the investors an aggregate of 17,146,190 shares of Class A common stock at a purchase price of $1.71 per share and issued to an affiliate of Machine a $10.0 million principal amount senior secured convertible promissory note, resulting in aggregate gross proceeds of approximately $39.4 million.
The Machine convertible note has an initial conversion price of $2.1375 per share, representing a 25% premium to the $1.71 per share purchase price in the transaction, bears interest at 10% annually on a payment-in-kind basis, and matures on the third anniversary of the date of issuance. Vulcan also issued to the Machine affiliate a three-year warrant to purchase 1,754,386 shares of Class A common stock at an exercise price of $1.71 per share.