Zeuus plans to raise $22.5 million, claims it wants to build data center in Montenegro – DatacenterDynamics


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A new company hopes to raise $22.5m to build a series of data centers around the world, starting in Montenegro.

Details about 'Zeuus' are limited, and it is not clear any work has begun.

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From visas to data centers

This month, Zeuus filed a Form D with the SEC to raise $22.5m. “I am very pleased with the progress my team has made developing our worldwide hyperscale data centers during the last eight months during Covid shutdowns," Zeuus CEO Bassam Al Mutawa said.

"The data center strategy is one that I am personally excited about and the world very much needs according to numerous business reports.”

The Form D offers very little information about the company, but Zeuus' bare-bones website claims that the company expects to build five data centers across Montenegro, Kuwait, Russia, Australia, and Colorado, USA.

The first facility, the company claims, is currently underway in the Nevidio Canyon, in Montenegro. All will be "completely subterranean," span 30,000 sq m (323,000 sq ft), and will target cloud, colo, and crypto.

But a video of the plan shows only basic renders, stock footage, and an image of the unrelated Lefdal Mine data center.

Zeuus itself is a rebrand of an existing company Kriptech International Corp, linked to an Al Mutawa, but primarily owned by Anatolii Antontcev and Aleksandr Zausayev.

Then registered in Thailand, 2017 filings show that the company was intending to offer "visa consultancy services," but it is not clear if it ever launched. A 2020 Kriptech filing listed cash on hand as $81, and noted its fixed assets amounted to a single computer purchased for $1,375, which has since fully depreciated in value.

In June 2020, Bassam Al-Mutawa's son Meshal acquired control of the company for $270,000. The business still said it was looking to provide visa consultancy services, primarily for Thai citizens.

A few months later, ownership was transferred to Bassam Al-Mutawa. In January 2021, Kriptech issued a $150,000 promissory note - for Bassam Al-Mutawa.

It then changed its name to Zeuus, its address to one in New York, and created brands for data centers, cyber security, energy, and 'Solaas'. No other company directors or staff are listed.

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