The capital structure
$300M from NGP Energy Capital Management and Sandbrook Capital, plus management. Sandbrook is anchored by the Ontario Teachers' Pension Plan.1 Cloverleaf has assembled and flipped Port Washington, WI to Vantage Data Centers (~$8B campus). The company has withdrawn from Greenleaf, WI (Jan 2026), Dundee Township, MI (Oct 2025), and Edwardsville, IL (Mar 2026 — after public records showed nearly a year of secret discussions). Troy, IL's mayor proposed a moratorium in Feb 2026. Monroe County, GA is active through a special-purpose vehicle named Rum Creek DevCo LLC.2 Axios reported in February 2026 that Cloverleaf is drawing takeover interest.3 The entity selling the project to Lowndes today may not be the entity that owns it tomorrow.
Leadership
Leadership track record — what the public record shows.
We focus on the platform, not personalities. But it's relevant that Cloverleaf's senior leadership cut their teeth at hyperscalers whose own documented operating histories include the patterns we want avoided in Lowndes:
- Cloverleaf's Chief Commercial Officer led Microsoft's energy strategy from 2011 to 2023. During that period, Microsoft's Quincy, Washington data center was reported by The New York Times to have wasted megawatts of electricity to reduce a $210,000 fine from Grant County PUD for using less power than committed; coverage also documented soaring diesel- generator usage and emissions at Microsoft's Quincy and Santa Clara data centers.20
- Cloverleaf's Chief Development Officer previously ran land acquisition and site development at Meta and at Microsoft. He issued the formal withdrawal statement when Cloverleaf retreated from Greenleaf, WI in January 2026 — and the Dundee, MI withdrawal acknowledgment that the company "should have done more public communication and listening."2122
- Cloverleaf publicly states it is pursuing 10 to 15 gigawatts of peak power capacity across all sites — Lowndes is one node in a larger national pipeline.23
We are not making personal-character claims. The bullets above are drawn from publicly reported coverage of operations under each executive's prior tenure. The point is structural: the people running Cloverleaf learned this work at companies whose documented patterns are the patterns we want to prevent here.
The pattern: eight known sites, three withdrawn, one flipped.
Cloverleaf has six publicly known projects. Two were withdrawn under community pressure within seven months. One was flipped to Vantage Data Centers for an $8 billion campus build. One is active through a special-purpose vehicle. One is pending. Lowndes is the sixth.
Burkville
Apr 2026 · 1,000+ acresProject Red Clay. 30-year tax abatement expected to be requested before HB399 takes effect. Tenant unannounced. Public meetings ongoing.
Cloverleaf is racing the January 1, 2027 HB399 deadline that will cut the abatement ceiling from 30 years to 20.
Greenleaf
Jan 2026 · ~500 acresCloverleaf retracted after a single community meeting of about 100 residents organized by Moms Clean Air Force.
CDO Aaron Bilyeu issued the formal withdrawal statement. The meeting that ended the project was organized in less than a week.
Dundee Township
Oct 2025 · 750 acresThe Dundee Village Council voted to block water supply. Cloverleaf retracted the pre-development agreement within weeks.
Cloverleaf's own statement acknowledged that the company 'should have done more public communication and listening.' The water vote did the work.
Port Washington
May 2025 · 1,900 acresCloverleaf assembled and annexed the parcel, then handed it to Vantage Data Centers for an $8 billion campus build.
This is the model: assemble the land, secure the power, sell the package. Cloverleaf does not operate.
Monroe County
Through 2026 · 1,200 (+300 proposed) acresOperating through a special-purpose vehicle named 'Rum Creek DevCo LLC.' Expansion currently before the county.
The SPV pattern is the giveaway. Any Lowndes filing will likely use a similarly-named entity — searches need to look for 'Cloverleaf Lowndes [DevCo] LLC' or similar.
Troy
Feb 2026 · 500 MW acresTriad High School cafeteria packed; coalition Troy Residents for Responsible Growth organized opposition. Mayor proposed a project moratorium at the Feb 2026 city council meeting.
Six known projects, two withdrawn, one flipped, one active, one pending under moratorium pressure, one proposed. The pattern is the point.
Edwardsville
Mar 2026 · Unknown acresIllinois Answers Project obtained ~24 emails via public records showing nearly a year of detailed Cloverleaf-Edwardsville discussions about land surveys, special-use permits, and engineering — while city officials publicly told residents on Facebook there was 'no formal proposal.' Project did not move forward.
The 'secret-then-deny' playbook, documented in writing. Lowndes County FOIAs will likely show the same pattern.
“After speaking to leadership at the Village of Greenleaf and the Town of Wrightstown, Cloverleaf will not be pursuing datacenters.”Aaron Bilyeu, Chief Development Officer, Cloverleaf Infrastructure · Issued after a single community meeting of approximately 100 residents organized in under a week.20
Cloverleaf is not the operator. The operator-tenant has not been named. The five demands are designed to make sure Lowndes County knows what it is approving — and from whom — before any 30-year abatement is locked in.