TSS, Inc, Relocating and Expanding Factory to Address Accelerating Demand for AI-Enabled Technologies
TSS Inc (OTCQB:TSSI) announced plans to relocate its headquarters and factory to address growing demand for AI integration services. The new facility will increase capacity by over 60% and triple testing capabilities for direct liquid-cooled racks. The facility will support racks using 3x-5x current power levels and is expected to begin operations in early 2025. The expansion, estimated to cost $25-30 million, will be financed through bank debt and cash on hand. The move is supported by a new multiyear customer agreement with one of TSS's largest customers.
TSS Inc (OTCQB:TSSI) ha annunciato piani per trasferire la propria sede centrale e fabbrica per far fronte alla crescente domanda di servizi di integrazione AI. La nuova struttura aumenterà la capacità di oltre il 60% e triplicherà le capacità di test per i rack a raffreddamento diretto. La struttura supporterà rack che utilizzano livelli di potenza da 3x a 5x rispetto agli attuali e si prevede che inizi le operazioni all'inizio del 2025. L'espansione, stimata costare tra i 25 e i 30 milioni di dollari, sarà finanziata tramite debito bancario e fondi disponibili. La mossa è supportata da un nuovo accordo con un cliente pluriennale, uno dei più grandi clienti di TSS.
TSS Inc (OTCQB:TSSI) anunció planes para reubicar su sede y fábrica para abordar la creciente demanda de servicios de integración de IA. La nueva instalación aumentará la capacidad en más del 60% y triplicará las capacidades de prueba para los racks refrigerados por líquido directo. La instalación soportará racks que utilizan niveles de potencia de 3x a 5x los actuales y se espera que comience a operar a principios de 2025. La expansión, que se estima costará entre 25 y 30 millones de dólares, se financiará a través de deuda bancaria y efectivo disponible. El traslado es respaldado por un nuevo acuerdo de varios años con uno de los mayores clientes de TSS.
TSS Inc (OTCQB:TSSI)는 인공지능 통합 서비스에 대한 증가하는 수요를 해결하기 위해 본사와 공장을 이전할 계획을 발표했습니다. 새로운 시설은 용량을 60% 이상 증가시키고, 직접 액체 냉각 랙에 대한 테스트 용량을 세 배로 늘릴 것입니다. 이 시설은 현재 전력 수준의 3배에서 5배까지의 랙을 지원할 예정이며, 2025년 초에 운영을 시작할 것으로 예상됩니다. 이 확장은 2,500만 달러에서 3,000만 달러로 추정되며, 은행 대출 및 현금으로 자금을 조달할 것입니다. 이 이전은 TSS의 가장 큰 고객 중 한 곳과의 다년 계약에 의해 지원됩니다.
TSS Inc (OTCQB:TSSI) a annoncé des plans pour relocaliser son siège social et sa usine afin de répondre à la demande croissante pour des services d'intégration d'IA. La nouvelle installation augmentera la capacité de plus de 60% et triplait les capacités de test pour les racks à refroidissement liquide direct. L'installation prendra en charge des racks utilisant des niveaux de puissance de 3x à 5x par rapport aux niveaux actuels et devrait commencer ses opérations au début de 2025. L'expansion, dont le coût est estimé entre 25 et 30 millions de dollars, sera financée par une dette bancaire et des fonds disponibles. Ce déménagement est soutenu par un nouvel accord client pluriannuel avec l'un des plus grands clients de TSS.
TSS Inc (OTCQB:TSSI) hat Pläne angekündigt, seinen Hauptsitz und die Fabrik zu verlagern, um der wachsenden Nachfrage nach KI-Integrationsdiensten gerecht zu werden. Die neue Einrichtung wird die Kapazität um über 60% erhöhen und die Testmöglichkeiten für direkt flüssigkeitsgekühlte Racks vervielfachen. Die Einrichtung wird Racks unterstützen, die 3x bis 5x der aktuellen Leistungsniveaus nutzen, und soll Anfang 2025 in Betrieb genommen werden. Die Expansion, die mit Kosten von 25 bis 30 Millionen Dollar geschätzt wird, wird durch Bankkredite und verfügbare Mittel finanziert. Der Umzug wird durch einen neuen mehrjährigen Kundenvertrag mit einem der größten Kunden von TSS unterstützt.
- Facility capacity increasing by over 60%
- Tripling capacity for testing liquid-cooled racks
- Secured new multiyear customer agreement
- Infrastructure upgrade to support 3x-5x current power levels
- Significant capital expenditure of $25-30 million required
- Taking on additional bank debt for expansion
Increasing facility capacity by more than
60% to a new facilityTripling capacity to test and validate direct liquid-cooled racks
Power infrastructure to support racks using 3x-5x current power levels, enabling future tech roadmap
New facility expected to begin operations in early 2025 to support new multiyear customer agreement
ROUND ROCK, TX / ACCESSWIRE / October 24, 2024 / TSS, Inc. (OTCQB:TSSI), a data center services company that integrates AI and other high-performance computing infrastructure and software and provides related data center services, today announced it plans to relocate its headquarters and factory to a new location to support expected AI integration growth.
"Based on our analysis of industry trends and the deepening of our relationship with one of our largest customers, we anticipate demand for our AI-enabled rack integration services will outpace our current capacity. Our outlook for at least the next five years is for volumes to be at a similar or greater level to what we began to experience under our first, large AI-related program," said Darryll Dewan, Chief Executive Officer of TSS Inc. "In order to address not only the volume but also the ever-increasing power demands expected from the next generations of AI racks, we plan to relocate from our current facility to another nearby. We have ensured the needed additional power will be available at the selected location to accommodate the foreseeable technology roadmap, including racks consuming three to five times the power as those being produced today. We expect the new facility will be fully operational in early 2025, enabling us to meet the production requirements that we anticipate under a new multiyear customer agreement."
"We believe this new facility will require investment of approximately
Dewan concluded, "One of our largest customers has demonstrated a true sense of partnership in structuring an agreement supporting this capacity expansion. This is a substantial next step in positioning ourselves for continued rapid growth."
About TSS, Inc.
TSS specializes in simplifying the complex. The TSS mission is to streamline the integration and deployment of high-performance computing infrastructure and software, ensuring that end users quickly receive and efficiently utilize the necessary technology. Known for flexibility, the company builds, integrates, and deploys custom, high-volume solutions that empower data centers and catalyze the digital transformation of generative AI and other leading-edge technologies essential for modern computing, data, and business needs. TSS's reputation is built on passion and experience, quality, and fast time to value. As trusted partners of the world's leading data center technology providers, the company manages and deploys billions of dollars in technology each year. For more information, visit www.tssiusa.com.
Forward Looking Statements
This press release may contain "forward-looking statements" -- that is, statements related to future -- not past -- events, plans, and prospects. In this context, forward-looking statements may address matters such as our expected future business and financial performance, and often contain words such as "guidance," "prospects," "expects," "anticipates," "intends," "plans," "believes," "seeks," "should," or "will." Forward-looking statements by their nature address matters that are, to different degrees, uncertain. Particular uncertainties that could adversely or positively affect the Company's future results include: we may not have sufficient resources to fund our business and may need to issue debt or equity to obtain additional funding; our reliance on a significant portion of our revenues from a limited number of customers and our ability to diversify our customer base; risks relating to operating in a highly competitive industry; risks relating to supply chain challenges; risk related to changes in labor market conditions; risks related to the implementation of a new enterprise resource IT system; risks related to the development of our procurement services business; risks relating to rapid technological, structural, and competitive changes affecting the industries we serve; risks involved in properly managing complex projects; risks relating to the possible cancellation of customer contracts on short notice; risks relating to our ability to continue to implement our strategy, including having sufficient financial resources to carry out that strategy; and other risks and uncertainties disclosed in our filings with the Securities and Exchange Commission, including the Annual Report on Form 10-K for the fiscal year ended December 31, 2023. These uncertainties may cause our actual future results to be materially different than those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.
Contacts:
Hayden IR
James Carbonara (646-755-7412)
Brett Maas (646-536-7331)
tssi@haydenir.com
TSS, Inc.
Danny Chism, CFO
(512) 310-4908
dchism@tssiusa.com
Contact Information
James Carbonara
Partner
james@haydenir.com
6467557412
SOURCE: TSS, Inc.
View the original press release on accesswire.com
FAQ
When will TSS Inc (TSSI) new facility begin operations?
How much will TSS Inc (TSSI) invest in the new facility?
How much will TSS Inc (TSSI) increase its facility capacity?
How will TSS Inc (TSSI) finance the new facility investment?
