US-based newly-registered company Zeuus plans to raise $22.5mn, saying plans to build a data centre in Montenegro, a press release from the company said.

The company says it plans to build five data centres across Montenegro, Kuwait, Russia, Australia, and Colorado in the US. 

In a March 17 press release, the company said it had filed a Form D with the US Securities and Exchange Commission (SEC) to raise $22.5mn through the issue of 1,5mn ordinary shares at a price of $15.00 per share. This was announced just days after it began trading on the OTC, a US marketplace for over-the-counter (OTC) securities, on March 9.

The funds raised will be used to purchase land and buildings to build its first data centres, the company said. Zeuus also plans to complete two acquisitions with operating businesses and established revenues.

Data about the company is limited and there is no information about whether it has started work, as reported by DatacentreDynamics.com, which said the company is a rebrand of an existing company, Kriptech International Corp. 

“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 in the press release.

The first facility is planned in Montenegro at the Nevidio Canyon. The company says it will be "completely subterranean," span 30,000 sq m and target cloud, colo, and crypto.

According to DatacentreDynamics.com, a video of the plan shows only basic renders, stock footage, and an image of the unrelated Lefdal Mine data centre.