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IT & Innovation

Jacksonville’s Tech Industry Continues Growth with Lake Parime Announcement

Lake Parime, a UK-headquartered digital infrastructure company transforming low-value energy into high-value sustainable computing power, plans to open its in-house hardware repair and manufacturing facility on Jacksonville’s Northside.

The company is expanding its North American footprint with a corporate office alongside its cutting-edge repair center, and assembly and manufacturing line in Jacksonville. The facility is estimated to create hundreds of jobs and bring millions of dollars of investment in innovation into Jacksonville over the coming years, focusing on high-performance servers used for mining cryptocurrency as its first use case.

Lake Parime will redevelop a former manufacturing site and the first phase will create 50 jobs. The company’s investment in Jacksonville is a result of meetings on JAXUSA Partnership’s annual economic development mission to the United Kingdom in Fall 2021 in conjunction with the Jacksonville Jaguars’ game in London.

“We’re delighted to be embarking on this ambitious and collaborative project with the city of Jacksonville, yielding high-skilled and manufacturing jobs across the community” said Nimesh Mistry, COO of Lake Parime. “The facility marks a dynamic step forward for Lake Parime in the US hardware market, taking ownership of our supply chain – de-linking our deployments from market fluctuations – and improving the shelf life of equipment through in-house hardware repair and manufacturing.”

JAXUSA Partnership is continuing to build strong relationships abroad, particularly in financial technology. Local leaders met with several companies last month as part of Fintech Week London and will return this fall.