The Daily Dig
SGLY has entered into a non-binding framework agreement with Florence Development LLC to evaluate building a large-scale AI computing and data center campus on an approximately 900-acre industrial site in Florence, South Carolina.
Nothing is locked in yet. Most of the agreement is non-binding. The binding provisions cover exclusive negotiation, confidentiality, publicity, representations, expenses, term and termination, remedies, governing law, and miscellaneous matters.
Power Trip
The site's biggest selling point is power. Preliminary information points to roughly 25MW of existing or near-term grid capacity. That number comes from the counterparty and still needs utility confirmation before it's treated as fact.
The two sides also want to explore expanding capacity to as much as 99MW within an anticipated 24-month window. That expansion isn't guaranteed. It depends on utility studies, interconnection approvals, construction, and regulatory sign-off, any of which could slow things down or shrink the final number.
Room to Grow
The current plan only uses part of the 900 acres for an initial phase. The rest stays in reserve. If the project moves forward, the broader campus could eventually support additional AI computing clusters, more data center capacity, and energy storage.
Under the agreement, both sides expect to move into site planning, technical design, permitting, and utility interconnection work as next steps.
SGLY sees the site as a potential foundation for capturing demand from AI model training, cloud computing, enterprise HPC, and computing-capacity services. If milestones are hit and definitive agreements get signed, the campus could become part of SGLY's broader U.S. digital infrastructure strategy.
Snapshot:
Developer/Counterparty: Florence Development LLC
Company: SGLY (Nasdaq: SGLY)
Location: Florence, South Carolina
Site Size: Approximately 900 acres
Sector: AI computing, hyperscale data center, high-performance computing infrastructure
Agreement Type: Non-binding strategic development framework agreement
Existing/Near-Term Grid Capacity: Approximately 25MW, subject to utility confirmation
Potential Expansion Capacity: Up to approximately 99MW
Expansion Timeline: Anticipated within 24 months, not guaranteed
Binding Provisions: Exclusive negotiation, confidentiality, publicity, representations, expenses, term and termination, remedies, governing law and miscellaneous matters
Target Demand: AI model training, cloud computing, enterprise HPC, computing-capacity services
Status: Non-binding framework stage; any definitive transaction subject to due diligence, utility confirmation, financing, and governmental approvals
Announcement Date: August 20, 2026
TheJobWalk Thoughts
This is a land and power play before it's a construction story. The 25MW figure is preliminary and still needs utility sign-off. The 99MW upside is a target, not a commitment. Anyone chasing early involvement should watch that gap closely.
For subs and suppliers, this is a watch-list item, not a bid opportunity yet. Meaningful procurement is unlikely until the project gets further through utility diligence, definitive agreements, and financing.
The 900-acre footprint is the real story. If the initial phase moves forward and demand follows, SGLY would have considerable room to keep expanding.
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