EdgeMode has entered into a non-binding agreement with Spark AI Foundry Holdings regarding a planned acquisition of the company's 300 MW data center project in Spain. The deal could have a total value of approximately EUR 300 million, assuming the entire planned IT capacity reaches construction-ready status.
The current project, DC Malpica AI, is planned in the municipality of Mora in the province of Toledo. When the facility reaches Ready to Build, RTB, status, the intention is for Spark AI Foundry to acquire all shares in DC Estate Malpica SL, the project company that legally owns the data center project.
The non-binding offer was formally signed on June 24, 2026 by Robert Stolpestad, Chief Operating Officer at Spark AI Foundry Holdings, and Charlie Faulkner, CEO of EdgeMode. EdgeMode announced the agreement on July 13, 2026.
The deal is valued at one million euros per MW.
The parties have set an indicative price of one million euros per megawatt of IT capacity that is approved, certified and classified as ready for construction at the time of completion of the transaction.
If the entire project's planned capacity of 300 MW reaches RTB status, it would mean a total transaction value of approximately EUR 300 million.
However, the final price has not been determined. The deal is still subject to valuation, due diligence, external review and possible adjustments to the final share transfer agreement.
The binding agreements are planned to be signed only after Spark AI Foundry has completed its review of the project.
Spark AI Foundry to acquire project company
The transaction is structured as a sale of the project company DC Estate Malpica once the data center project has reached construction-ready status.
This means that Spark AI Foundry is not purchasing a fully built and operational facility at this stage. The non-binding agreement only covers the development up to RTB status and the subsequent transfer of the project company.
Neither the construction phase nor the future operation of the data center
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