Company: GEDC
Filing Date: 2025-04-02
Form Type: 10-K
Source: 0001641172-25-002190
Chunk: 247

Company: CalEthos, Inc.
Filing Date: 2025-04-02
Form: 10-K
Item: Item 1C
Chunk 247
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oned land on which we could combine
nearby direct clean geothermal/solar energy with a 24/7 data center operation. However, in July 2024, we identified and entered into
an option agreement to acquire a larger, 315-acre parcel of land that we believe provides us with significant advantages over our prior
data center development site, which include:

    ●
    Larger,
    strategically located, industrial-zoned property with acreage for on-site switchyard, substation and additional data center buildings

    ●
    Better
    options for connectivity to high-voltage transmission lines

    ●
    Closer
    proximity to existing and planned geothermal power plants

    ●
    Shorter
    fiber routing distances to internet backbone and communications networks

    ●
    Directly
    on the main north/south transportation corridor (Hwy. 111) and gateway entrance (Sinclair Rd.) to the planned 51,000-acre Lithium
    Valley development area

    ●
    Lower
    flood risk - outside of the 100- and 500- year flood zones in a FEMA X (Unshaded) area

In
late July 2024, we terminated our option agreement to acquire the 80-acre parcel in Imperial County, California as we believe the recently-optioned
property is better suited for our immediate needs.

We
believe 100% clean-energy-powered data centers are an important element in the ability of the U.S. to meet its carbon neutral climate
goals and for hyperscale and enterprise IT companies to meet their shareholder and customer commitments to have an ESG-compliant, clean
digital footprint before 2030. As a result, we believe the availability of nearby clean energy and our ability to produce geothermal
power on our site will provide us a significant competitive advantage in the marketplace.

In
Phase I of our development plan, which we completed in December 2023, we contracted with leading data center advisory firms to complete
site, power and connectivity assessments, feasibility studies, engineering plans and project benchmarking. Phase I of our plan included
engaging:

    ●
    HDR
    Engineering, Inc., a global professional services firm specializing in architecture, engineering, environmental and construction
    services (“HDR Engineering”), to complete a site assessment, project feasibility study, and the initial shovel-ready
    site development plan for our Imperial County site.

    ●
    ZGlobal,
    Inc., a power engineering and energy solutions firm