Funding Partner secured
Argyll Infrastructure Holdings Ltd (AIH), Scotland's pioneering force in artificial intelligence infrastructure, today confirmed an initial capital raise of 15 million pounds, with negotiations continuing for a further 100 million pounds that is expected to be made available within the next 3 to 6 months.
This strategic investment marks the beginning of an ambitious plan that will see AIH's AI infrastructure grow to rapidly within the next two years, positioning Scotland at the forefront of the European AI revolution.
€2 Billion Capital Raise for Multi-Site Development
To support this ambitious expansion, AIH has engaged European Guarantee Services (EGS)in partnership with Luxembourg Fund Manager Ocorian AIFM to commence an initial capital raise of €2 billion. This substantial investment will fund the development of state-of-the-art AI infrastructure sites in both Dunoon and Perth, establishing a comprehensive AI computing network across Scotland.
The multi-site strategy ensures redundancy, optimal connectivity, and positions Scotland as a leading European destination for AI computing infrastructure. The scale of this investment underscores both the confidence in Scotland's technology sector and the transformative potential of advanced AI infrastructure.
Revolutionary Technology Partnership
Under a three-year exclusivity agreement, AIH has selected SambaNova's fully integrated AI rack solutions featuring their patented SambaStack and SambaCloud technology, powered by the groundbreaking SambaNova SN40L RDU (Reconfigurable Dataflow Unit) chip.
The decision to partner with SambaNova was driven by their unparalleled ability to deliver lightning-fast inference on the best open-source models while maintaining an extremely efficient power footprint—a crucial factor in achieving the project's 'green' technology certification.
Transforming Dunoon's Economic Landscape
This project represents the first major development in Dunoon since the closure of the United States Navy submarine base at the Holy Loch and the shutdown of the McAlpines gas rig construction site at Ardyne Point—events that resulted in the loss of over 15,000 jobs in the area and devastating impacts on the local community.
The AIH-SambaNova partnership marks a new chapter in Dunoon's economic history, bringing cutting-edge technology infrastructure and employment opportunities to a region that has waited decades for renewed industrial investment. This initiative is expected to create significant direct and indirect employment, revitalizing the local economy and positioning Dunoon as a technology hub for Scotland and beyond.
The project is expected to create at least 30 jobs, increasing to 150 within 2 years and flow through employment of up to 2,000 jobs across the UK.
Pioneering Scotland's AI Future
Peter Griffiths and local farmer Robert ‘Bert’ Mitchell incorporated AIH with the idea of regenerating the Killellan and Ardyne Point area
Managing Director of AIH, Peter Griffiths, said today:
‘By raising the initial capital and confirming the order for the purchase of the initial racks, AIH has established itself as the vanguard of AI adoption in Scotland, and this partnership with SambaNova reinforces the company's commitment to bringing world-class AI infrastructure to the region. The three-year exclusivity arrangement ensures that AIH will be the sole provider of SambaNova's cutting-edge technology throughout the United Kingdom’
The first deployment phase will focus on establishing the foundational infrastructure, with the initial racks providing immediate computing capacity for AI workloads. The system's exceptional energy efficiency and performance characteristics make it ideally suited for sustainable, large-scale AI operations.