Clifford Chance Provided Legal Counsel to Iris Energy on US$300 Million At-the-Market Offering
Clifford Chance Provided Legal Counsel to Iris Energy on US$300 Million At-the-Market Offering
Clifford Chance has guided Iris Energy Limited (NASDAQ: IREN) on the Australian law aspects of its SEC-registered at-the-market offering of ordinary shares, with a total value of up to US$300 million.
Iris Energy is a next-generation data centre company that builds, owns, and operates facilities powered by 100 per cent renewable energy. The company's data centres are optimised for power-dense computing, including Bitcoin mining and other applications. Iris Energy targets sites with low-cost, underutilised renewable energy resources and supports local communities.
The Clifford Chance team, led by Sydney partner Reuben van Werkum, with counsel John Karantonis and associate Joshua Yan, provided comprehensive advice on the Australian law aspects of the transaction.
“We highly value our longstanding relationship with Iris Energy and were delighted to continue to support the business on this significant offering. The data centre industry has been identified as one that could benefit from sustainable solutions. Iris Energy is a leader in driving this shift to environmentally friendly and socially responsible operations,” Reuben van Werkum said.
Reuben van Werkum added: “Clifford Chance is closely aligned to the energy transition thematic, and we have significant expertise globally assisting businesses to acquire or develop sustainable assets across major infrastructure and energy asset classes. This transaction also underscores our track record of providing top-tier advice to clients like Iris Energy who are undertaking significant fundraising transactions with cross-border legal considerations.”
Clifford Chance is a leading law firm for transactions in the sustainable infrastructure and renewable energy sector in Asia Pacific. Recently, the firm advised on the 1,022MW Hai Long offshore wind farm project in Taiwan and the 5GW Elanora offshore wind farm project in Australia, which is set to generate 40 per cent of the state of Victoria's current energy needs once fully operational. Clifford Chance Australia's team brings deep industry-specific knowledge and expertise in renewable projects.
