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Iceotope secures £30m funding from global syndicate

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Iceotope Technologies has won a £30 million funding round from a group of global investors led by Singapore impact private equity firm ABC Impact.

The aim of the funding is to drive the reduction of carbon emissions produced by the data centre industry, and includes investment from nVent, SDCL Energy Efficiency Income Trust plc, Northern Gritstone, British Patient Capital, Pavilion Capital, and existing investor, Edinv.

nVent will also offer new modular integrated solutions for data centres, edge facilities, and high-performance computing applications as part of a strategic alliance with Iceotope, and support a rapid deployment of Iceotope’s technology through its suite of data centre solutions.

According to Iceotope, its precision immersion cooling solutions offer up to 96% water reduction, up to 40% power reduction, and up to 40% carbon emissions reduction per kW of ITE.

Tan Shao Ming, Chief Investment Officer at ABC Impact, said, “Climate and water solutions form a key investment theme for us. Given that a large share of data growth in the coming years is expected to come from Asia with the advent of IoT and the 5G rollout, data centres in the region are set to proliferate. Iceotope’s precision cooling solutions enable data centres to transit to a more sustainable infrastructure with a reduced environmental and real estate footprint. By increasing efficiency in their use of energy and water, data centres can contribute to global efforts to reduce carbon emissions. We see vast potential to deploy this technology in Asia, especially regions with tropical climates, and we look forward to working with Iceotope to scale its positive impact.”

David Craig, CEO of Iceotope Technologies, added, “This significant investment, one of the largest amounts recently invested in liquid cooling, is a testament to the great work of our designers for our customers across the globe, as well as the many technology and channel partners that have placed their trust in our ability to cool data centre servers more efficiently in a vertical rack form factor. Given the global importance of the data centre sector, which can only increase as edge facilities proliferate and extend to the far reaches of civilisation, we look forward to accelerating our global deployment plan with the help of our new and existing investment partners.”

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