Malaysian prefabricated data center specialist BrightRay has signed a module sales framework agreement to supply an AI data center in Coloane, Macau.

The unnamed customer, the developer of the planned AI project, will deploy BrightRay's FPD fully prefabricated data center solution. The five-story facility at Rua das Albizias Nos 71-93, Rua Marginal da Concordia will offer up to 40MW of IT capacity across 9,000 sqm (96,875 sq ft). BrightRay expects delivery in the third quarter of 2027.

The Tier III-quality building will support air-cooled, fully liquid-cooled, and hybrid air-liquid IT deployments, with rack densities from 10kW to 500kW per rack.

"Macau's limited space places higher demands on land-use efficiency and on the organization of on-site construction," said Bin Wang, founder of BrightRay. "We believe that additional AI computing infrastructure will contribute to the development of Macau's digital economy, and we look forward to working with the customer to advance the project."

Wang added that the framework agreement marks a step in expanding the company's prefabricated data center business. BrightRay's delivered project in Johor, Malaysia, already runs 70MW, with a further 50MW planned.

Deal structure and conditions

The framework agreement contains no purchase or supply obligation. A definitive sales contract must follow, and BrightRay will only sign it after subsidiary BrightRay Veridian secures a tenant and the customer signs a legally binding lease with that tenant. The agreement runs until the end of September 2027 and then terminates automatically.

A thin Macau market

BrightRay (also BrightRay Science Inc.) previously developed the Johor facility in Malaysia. Macau, a special administrative region of China handed back by Portugal in 1999 under a "one country, two systems" arrangement similar to Hong Kong's, has a minimal data center footprint.

CTM operates the only listed data center in the territory, according to Data Center Map. GDS outlined plans for a 20MW facility there previously, but it remains unclear whether that project went live. Huawei supplied a data center to Macau's Municipal Affairs Bureau (IAM), according to an online case study. Telecoms operators China Telecom and 3 Macau also operate in the region.

BUUU takes 60 percent stake

Last month, BrightRay announced a definitive agreement under which Nasdaq-listed BUUU Group Limited will acquire a 60 percent equity interest in the company, making BrightRay a consolidated subsidiary of BUUU upon completion.

BUUU also signed private placement agreements that, together with potential proceeds from cash exercises of outstanding warrants, are expected to generate aggregate gross proceeds exceeding $60 million. The funds will support BrightRay's capacity expansion and working capital needs.

"We made the data center one of the fastest parts of AI instead of the slowest," Wang said. "With BUUU, we gain the capital base and international standing to take this model global."

BUUU, founded in 2017 and headquartered in Hong Kong, provides meetings, incentives, conferences, and exhibitions solutions. It will hold a call option to acquire the remaining 40 percent of BrightRay during a three-year period after closing.

BUUU will pay the consideration in two components: newly issued BUUU Class A ordinary shares and a promissory note convertible into up to ten million BUUU shares. The final consideration is capped at 19.99 percent of BUUU's total outstanding shares.

BUUU management framed the acquisition in infrastructure terms. "In the AI era, the bottleneck is not the chips but the buildings, power, and cooling they cannot run without," the company said. "BrightRay turned that bottleneck into a manufacturable product and proved it at hyperscale. We are acquiring the rate-limiting step of the AI economy."

BrightRay said it was previously backed by "Tencent-affiliated investors."