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Wells Fargo Provides $33MM Expansion Financing for Penguin Computing

March 29, 2018, 07:30 AM
Filed Under: Technology

Wells Fargo Supply Chain Finance, a division of Wells Fargo & Company, completed a $33 million credit facility for Penguin Computing, Inc., a supplier of high performance computing (HPC), enterprise data center and cloud solutions. The credit facility will support Penguin Computing’s current and future growth opportunities as the company meets unprecedented demand for its innovative data center and solutions. 

“We’re seeing high levels of demand for our hardware, software and cloud solutions,” said Lisa Cummins Dulchinos, CFO, Penguin Computing. “Wells Fargo’s creative financing helps supplement the expansion of our manufacturing facilities as we deliver more solutions to the enterprises, government agencies and academic institutions making sense of the data created by AI, IoT and similar big data initiatives.”  

Penguin Computing was recently recognized for its Penguin Computing® On-Demand™ (POD) as the “Best HPC in the Cloud Platform” by HPCwire Readers’ and Editors’ Choice Awards. Additionally, the company has nine open compute-based systems among the world’s TOP200 supercomputers, including those delivered to Lawrence Livermore, Los Alamos and Sandia national labs.  

“Wells Fargo is committed to providing innovative financing and technology solutions to IT channel businesses throughout North America and internationally,” said Brett Zimmerman, director, Channel Finance, Wells Fargo Supply Chain Finance. “Penguin Computing is helping to change the way the private and public sectors use data and make decisions. Penguin is an industry leader in the high performance technical space and we are excited to support its continued growth.” 

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