Prefabricated data center specialist Brightray Science Inc. has agreed to sell a 60 percent equity stake to Nasdaq-listed MICE solutions provider BUUU Group Limited, a transaction that bundles fresh financing and a strategic pivot toward international markets. The deal underscores how capital is flowing into modular infrastructure players as hyperscale demand outpaces traditional construction capacity.
Under the definitive agreement announced yesterday, BUUU will acquire the controlling interest in Brightray, with the sellers retaining a 40 percent stake. BUUU has also entered into private placement agreements with certain investors, which—combined with potential proceeds from the cash exercise of outstanding warrants—are expected to generate aggregate gross proceeds of more than US$60 million. These funds are earmarked to support Brightray's capacity expansion and working capital requirements, according to the company's press release.
As part of the transaction, BUUU plans to relocate its headquarters to Singapore, a move designed to bolster Brightray's platform for delivering prefabricated data centers across Southeast Asia, the United States, the Middle East and Europe. Upon completion, Brightray will become a consolidated subsidiary of BUUU, while BUUU will hold a call option to acquire the remaining equity interest during the three-year period following closing.
The management and board of BUUU will remain unchanged, but Brightray founder Bin Wang is expected to join BUUU as Executive Director and Co-Chief Executive Officer. Wang, whose company was previously backed by Tencent-affiliated investors, has built Brightray around a factory-centric approach: more than 90 percent of a data center facility is manufactured, integrated and tested in a controlled environment, compressing the delivery cycle for full prefabrication projects from a conventional 18 to 36 months down to six to nine months. Brightray's manufacturing base spans 126,000 square meters, capable of delivering 300MW of annual production capacity.
Brightray's flagship project is the 120MW Sedenak Tech Park campus in Johor, Malaysia, where 70MW is currently in operation serving internet and cloud customers. The first 20MW was completed in just eight months, with a further 50MW scheduled for delivery. "We made the data center one of the fastest parts of AI instead of the slowest," Wang said. "With BUUU's capital base and international profile, we will bring this model to global markets."
BUUU's management echoed that sentiment, noting that in the AI era, "the bottleneck is not the chips, but the buildings, power and cooling that chips require to operate. Brightray has turned that bottleneck into a manufacturable industrial product and validated it at hyperscale." Industry forecasts support that urgency: global data center demand is expected to reach approximately 219GW by 2030, nearly triple current levels, while traditional construction cycles, skilled labor availability, power and cooling resources remain key constraints. The deal positions Brightray to capitalize on that gap, pairing its accelerated delivery model with BUUU's listed-company capital access and international footprint.
Brightray sells 60% stake to Nasdaq-listed BUUU, secures US$60 million for global prefab data center push
By: IDCNOVARegion: Southeast Asia