Firmus to Acquire Benmax's Fabrication, Design and Projects Businesses, Accelerating AI Factory Deployments

Sydney | Canberra, 13 August 2026

AI infrastructure company Firmus Technologies has entered into a binding agreement to acquire Benmax's Fabrication, Design and Projects businesses for A$300 million. The acquisition strengthens Firmus' vertically integrated AI Factory Platform, bringing design, fabrication, construction, and operations together within a single operating model.

Bringing more of the AI Factory value chain together is expected to improve deployment speed, capital efficiency and operating performance, supporting a lower cost of token production and reducing complexity.

Firmus' HyperCube is the company's modular AI Factory system, designed and manufactured in regional NSW by Benmax. It enables Firmus AI Factories to be built rapidly, while reducing energy and water consumption through advanced liquid cooling, mechanical integration and electrification.

Since the inception of the HyperCube in 2020, Benmax has worked alongside Firmus to co-design and manufacture successive generations of the modular platform. The acquisition marks the natural next step in a partnership built on years of shared innovation and Australian advanced manufacturing capability.

Over the past 12 months, the HyperCube platform has been successfully adapted for the existing CDC facility in Melbourne. It is currently being deployed into Firmus' AI Factory development in Tasmania, while manufacturing activity will also support Firmus' recent expansion into Southeast Asia. In Australia, Firmus delivers end-to-end AI Factory developments, while in Southeast Asia HyperCube will be integrated into projects delivered with regional build partner DayOne.

Benmax Managing Director Scott Polsen will join Firmus as Chief Development Officer, broadening Firmus' leadership team from engineering and manufacturing to project delivery as the company continues to scale its AI Factory portfolio. On completion, the acquisition will more than double Firmus' global workforce to 340, significantly expanding its in-house engineering, manufacturing, project delivery and supply chain capabilities.

Firmus Co-Founder and Co-CEO Oliver Curtis said the acquisition reflects the company's long-term strategy:

"Our ability to execute is everything. Bringing this capability into Firmus extends our vertically integrated AI Factory Platform across design, fabrication and project delivery, supporting our ability to continue innovating as we scale efficiently and responsibly. Scott is a unique operator, and the Benmax team has been instrumental in the evolution of the HyperCube platform."

"Just as importantly, this is an investment in Australian people and advanced manufacturing, strengthening our ability to build world-class AI infrastructure in Australia, supporting our growth across the Asia Pacific region."

Benmax Managing Director, Scott Polsen on the acquisition:

"This is the culmination of years of designing, building and refining the platform together. Every generation of the HyperCube has made the next one better, and now we're deploying it across multiple continents at the same time. It shows what's possible when you've got great people, Australian manufacturing and a shared vision. It's a proud milestone for our team and a powerful example of what advanced manufacturing can achieve."

About Firmus

Firmus Grid Limited, trading as Firmus Technologies, is an AI infrastructure company built on a simple idea: energy in and tokens out – as efficiently as possible. Vertically integrated from model to grid, Firmus uses proprietary energy and cooling technology to build and deliver next-gen infrastructure with scale, reliability and performance. Headquartered in Sydney, Australia, Firmus provides AI cloud services across Asia Pacific and beyond.
Follow @firmustechnologies on LinkedIn.

About Benmax

Benmax designs, builds and maintains high-performance HVAC and mechanical systems for commercial and industrial buildings across Australia including the Firmus HyperCube platform. Founded in Canberra in 1986, the company has grown into a full-service operation managing every stage of the mechanical lifecycle in-house, from design and engineering through to fabrication, construction and maintenance. Family-run, Benmax is known for solving the toughest HVAC challenges other operators shy away from.

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