Q1: 800 MW of sovereign compute on firmed gigawatt ground.
Sovereign AI requires firmed, in-region power and heat rejection — not silicon; silicon is buyable. Q1 is AloomU.au's 800 MW sovereign-compute program at CleanCo's Swanbank Energy Precinct (Ipswich, QLD) — co-located with 385 MW of firm generation, a 250 MW / 500 MWh battery operational since February 2026, a purpose-built cooling reservoir, and a grid connection of up to 1.2 GW. The first tranche — ~AUD $116 million (all-equity worst case) — energises a ~2 MW, ~2,850-GPU behind-the-meter pilot, then scales through 20 and 100 MW phases toward the full program on the same connection.
The cluster runs today, at lab scale, in Brisbane. Verify the silicon before reading further.
Why a site, not a colo
The binding constraint. Sovereign workloads cannot burst offshore to cover a peak or a dead node — the substrate is sized for peak, in-region. The scarce inputs are firmed power + grid headroom + land + a heat sink under one cooperative owner. A colo rack rents someone else's power story; Swanbank owns it.
The site. 336 ha brownfield (our parcel: 99 ha lease), 11 km from Brisbane's demand centre. Firm power: 385 MW combined-cycle gas + the operational 500 MWh Tesla Megapack battery + a study for up to 250 MW of renewable-gas-ready turbines. A new 275 kV substation, commissioned for the battery, already on the precinct.
The heat sink. The Swanbank Cooling Water Dam — recycled, non-potable water since 2007 — re-tasked as a closed-loop thermal reservoir. Direct-to-chip liquid cooling, water recirculated not consumed: zero potable water per token, no evaporative draw, no creek discharge.
The landlord. CleanCo (QLD government-owned) is actively redeveloping the precinct and courting innovative co-located tenants. The regulatory floor (SOCI Act 2018, APRA CPS 234, Privacy Act APPs, AUKUS Pillar 2) keeps tightening in favour of Australian-owned compute.
The moat
AU ownership at the entity level. AloomU's shareholder register is Australian-resident. No foreign parent, no foreign holding company, no foreign convertible note. CLOUD Act / FISA 702 / EO 12333 do not reach AloomU because AloomU has no US legal nexus.
Own the demand, not just the supply. The switch (aloomu.au/v1) aggregates tenant traffic into one buy — negotiated frontier-lab wholesale on one side, our own silicon on the other, routed per request under the au-only residency guard. Owning supply caps what the labs charge us; owning aggregated demand caps what they charge everyone. The cluster is the floor under every negotiation.
Cryptographic attestation as the product. Every workload emits a signed proof artefact rooted at AloomU's customer-facing root key. Per-request audit trail today; hardware-signed certificate of origin (AloomU Anchor™) on the roadmap.
Energy position, stated plainly. Battery-first firming (500 MWh operational on site) with gas as transitional firming on CleanCo's Clean-Energy-Hub trajectory. We do not claim the pilot runs on 100% renewables today — we claim the cheapest firmed sovereign megawatts in the country, with an auditable path to renewable provenance.
Pilot economics stabilised yr-1
Installed GPUs (~25 racks @ ~80 kW)
~2,850
Annual revenue (~$2.35/GPU-hr · 85% util)
~$50M
EBITDA (~83% margin)
~$41M
Simple payback on ~$98M capex
~2.4 yr
Electricity share of revenue at ~$65/MWh
<3%
Benchmarks: 2026 H100-class 1-yr contract ~$2.35/GPU-hr (contract prices rose ~40% Oct 2025 → Mar 2026 on sold-out capacity); AEMO QLD Q1 2026 wholesale average $65/MWh — a behind-the-meter PPA targets below grid. Before financing, tax, ramp; stress-tested to $1.80/hr · 65% utilisation. The moat is firmed capacity and uptime, not the power bill.
Use of funds ~AUD $116M
GPU compute, networking, storage
~$80M
69%
Power + cooling fit-out (275 kV→33 kV→LV + rectifiers; closed-loop liquid to the dam; civil)
~$18M
16%
Grid connection yr-1 + working capital + team
~$8M
7%
Contingency
~$11M
9%
Total Stage-1 raise (all-equity worst case)
~$116M
100%
GPUs are a financeable, resaleable asset — vendor finance or GPU leasing materially cuts the equity cheque. Natural shape: a smaller equity round to close CleanCo / Powerlink terms and long-lead items, then vendor finance + infrastructure debt for the build. Line items move with final quotes; disclosed under NDA.
Delivery milestones
Wave 1 — terms
CleanCo land lease (99 ha) + behind-the-meter firming access + dam access + PFAS containment scope signed. Powerlink Connection & Access Agreement (N-1, ~$2.5M/yr) executed against the precinct's spare energised capacity.
Wave 2 — energise
Pilot hall built and energised: ~2 MW IT load, ~2,850 GPUs, closed-loop liquid cooling to the Cooling Water Dam. Sovereign tier on the switch cuts over from Stage-0 lab silicon to Swanbank production silicon. Public capacity dashboard goes from "lab" to "production".
Wave 3 — fill
Capacity sold against the owned demand stack: QGOV via QWork, Tailor (customer #1), Plan B EOI register. Customer #2 (independence-proof, regulated-sector, non-QGOV) operating in production.
Wave 4 — scale
Phase-1 FID (~20 MW) on proven utilisation. Same connection, same dam, same landlord — a 100 MW build-out uses under 10% of the site's 1.2 GW envelope — stepping toward the full Q1 program: 800 MW.
The staircase
Stage-0 — live today
Moorooka lab rack: 8 open-weight models, public 60-second telemetry. The proof, not the product.
Stage-1 — this raise
~2 MW · ~2,850 GPUs behind the meter at Swanbank.
Phase 1
~20 MW · ~28,500 GPUs.
Build-out
~100 MW · ~142,000 GPUs — still under 10% of the grid envelope.
Q1 complete
800 MW — the program designation; ~two-thirds of the connection.
Envelope
Up to 1.2 GW. The site is not the limit; capital and silicon are.
Commercial position
Anchor customer (live)
Queensland Government — production workloads on AloomU sovereign compute today across QChat (the QLD public-service generative-AI assistant) and QGCS (Queensland Government Consulting Service). QWork — QGOV's flagship system — is the compute-offtake channel, with integration live today (work delivered behind QWork links, Organisation-gated). QGOV AI-inference spend tracks ~AUD $15M/yr today → ~AUD $1.17B/yr by 2033–35. Contracted compute volumes through QWork are in negotiation — the channel is live; the contract is not. Beyond QGOV: Logan City Council runs workloads today, and conversations with UQ and QUT are underway. Offtake is structured as tenancies — term agreements over firmed-MW blocks — with QWork as the anchor tenancy.
Customer #2 (in flight)
Non-QGOV, regulated-sector — federal department under SOCI Act 2018 obligations, Defence under AUKUS Pillar 2, or a non-QLD state. Inside the first twelve months of pilot operation. The independence-proof milestone investors should hold AloomU to.
Addressable market
Combined federal + state + Defence IT spend ~$30B/yr today, with sovereign-AI inference a structural new line item layered on top. 1–3% of the regulated-sovereignty segment over 5 years ≈ $500M ARR ceiling without displacing hyperscaler workloads. GPU contract pricing rose ~40% in six months on sold-out capacity — and in June 2026 Google began paying SpaceX US$920M/month (and Anthropic US$1.25B/month) for rented compute: ~US$26B/yr of frontier-lab demand that their own data centres cannot meet. New firmed supply enters a structurally short market under a premium price umbrella — and per SpaceX's SEC filing, Google's contracted cluster is ~110,000 GPUs (~77 MW): the size of one Q1 build-out stage, of which the 800 MW program holds seven.
[Leadership / advisory roster — disclosed under NDA.]
This is not a deck claim. The rack runs today. Visit aloomu.au/#live for live nvidia-smi telemetry from the Stage-0 facility — refreshed every 60 seconds, verifiable against the published JSON at /.well-known/aloomu-capacity.json. The TLS chain you're reading this over terminates at AloomU's own root CA, not a US one. Stage-1 ships the same posture at production scale.