The company announced plans for a proposed one-gigawatt (1 GW) data centre intended to support demand for artificial intelligence, cloud computing, and data-intensive technologies.
According to the release, the proposed project would represent a $10 billion investment over an estimated two-year construction period.
SYNAPSE said that once fully developed, the facility would be approximately ten times larger than existing data centres currently operating in Canada.
The company said the project is expected to include the creation of approximately 2,000 construction jobs during the development phase. SYNAPSE also said the facility is expected to include more than 1,000 long-term, high-skilled technology and operations jobs once fully operational. The release states the development would generate significant municipal revenue.
SYNAPSE said Olds was selected based on several factors cited in the release, including direct access to industrial natural gas infrastructure, fibre connectivity, and its location between Calgary, Edmonton, and Red Deer.
SYNAPSE said all required regulatory and environmental approvals would be pursued through applicable provincial and federal processes, including the Alberta Utilities Commission and the Alberta Energy Regulator.
“Olds was the clear choice for this $10 billion investment because of the community’s proactive vision and the exceptional responsiveness of Invest Olds and the Town of Olds,” said Jason van Gaal, CEO of SYNAPSE DATA CENTER INC.
“This collaboration allowed us to advance at the speed required by global technology timelines while leveraging a strategic location between Calgary, Edmonton and Red Deer,” van Gaal said. “By creating over 1,000 long-term, high-skilled technology jobs and contributing significantly to the local tax base, we are ensuring that the benefits of the global AI boom are felt directly here in Olds.”
The release states van Gaal is the founder of Root Data Center, which was acquired by Compass Datacenters as part of a $3 billion transaction.
According to the company, the proposed facility would be powered by a closed-cycle natural gas system designed to reduce emissions. The company said the power generation system would be self-supplied and not connected to Alberta’s provincial electrical grid.
The release also states the project would use a closed-loop water system requiring a single initial fill and less than one per cent of the Town of Olds’ daily water consumption, which the company said would eliminate the need for continuous draws from the municipal water system.
“Olds is proud to be considered for what could become one of the most significant digital infrastructure investments in Canada,” said Dan Daley, Mayor of Olds.
“This is a major milestone for our community and will offer benefits from jobs to taxes,” Daley said. “We look forward to working closely with partners and ensuring this initiative is approached responsibly and transparently.”
Invest Olds said the proposal reflects the community’s approach to investment attraction.
“Olds is increasingly being recognized as a community that can move from opportunity to action,” said Sandra Blyth, economic development manager with Invest Olds. She said the organization supports early-stage coordination and project readiness while maintaining transparency and community alignment.
The release states Olds College of Agriculture & Technology was engaged early in discussions related to the proposal.
“Olds College of Agriculture & Technology was engaged early in discussions to explore potential opportunities for future programming and applied research,” said Todd Orman, vice-president of external relations and research.
“As projects of this scale evolve, we see value in ensuring education, workforce development, and innovation are part of the conversation from the start,” Orman said.
SYNAPSE said additional project details, timelines, and regulatory milestones will be released as approvals progress.