# Firmus pursues private funding after ASX listing collapse

> The AI data centre company has abandoned its stock exchange plans but says it will push ahead with three Tasmanian projects, though one remains unfunded.
- Title: Firmus pursues private funding after ASX listing collapse
- Summary: The AI data centre company has abandoned its stock exchange plans but says it will push ahead with three Tasmanian projects, though one remains unfunded…
- Keywords: firmus, ai data centres, tasmania, oliver curtis, tim rosenfield, asx listing, private funding, launceston, long reach, wesley vale, news, politics
- Source: Abc — https://abc.net.au/news/2026-10-21/firmus-yet-to-secure-full-funding-for-tasmania-centre/107289594
- Published: 2026-10-20T19:26:42+00:00
- Read time: 2 min
- Topics: firmus, ai data centres, tasmania, oliver curtis, tim rosenfield, asx listing, private funding, launceston, long reach, wesley vale, news, politics
## Firmus abandons ASX listing plan
The AI data centre company headed by Oliver Curtis and Tim Rosenfield withdrew its application to list on the Australian stock exchange earlier this month.
## Three Tasmanian projects in development
Firmus is building an AI data centre in the Launceston suburb of St Leonards, has approval for another at Long Reach in the state's north, and is seeking approval for a third at Wesley Vale…
## Funding status varies across projects
The Launceston site is fully funded and contracted to a customer. Wesley Vale stage one is also fully funded and contracted. Long Reach has development approval but funding is not yet secured.
## Long Reach is the largest project
The Long Reach site in the Bell Bay Advanced Manufacturing Zone is the largest of the three at two hundred eighty eight megawatts and is under option to a customer.
## Firmus corrects energy sourcing claim
Firmus told Tasmania's parliamentary energy committee that all energy will be developed and procured on-island in Tasmania, correcting an earlier submission to a federal AI inquiry that suggested projects might be interstate.

> All of our energy will be developed and procured on-island in Tasmania. There will be no developments interstate to support our Tasmanian load.
## Hydro Tasmania assessing power request
State-owned energy supplier Hydro Tasmania is assessing a request from Firmus for four hundred forty four megawatts, with a decision expected by the end of the year.
## Power supply challenges between 2028 and 2030
Hydro Tasmania identified a critical period between two thousand twenty eight and two thousand thirty when Firmus's full load is expected online but before new wind generation is commissioned.
## Three wind farms identified for supply
Hydro Tasmania identified three planned Tasmanian wind farm projects that could supply Firmus once operational, though they will compete for construction resources and will not all come online at once.
## Firmus seeks to underwrite new wind capacity
Firmus told the committee its preference is to underwrite about one thousand megawatts of new wind energy through Hydro Tasmania.
## Key takeaway

Firmus abandoned its ASX listing this month but says it will pursue private funding for three Tasmanian AI data centres, with only two currently fully funded.