EcoDataCenter has announced it has raised SEK 1 billion (£74.4 million) through unsecured bonds to fund its investment in AI-related infrastructure.

The senior unsecured bonds have been issued by EcoDataCenter’s holding company – EcoDC Holding AB (publ) – and are part of an overall SEK 2 billion (£148.79 million) plan. The company aims to list the bonds on the market.

“AI is a dynamic investment area with enormous potential to drive growth and productivity. Scaling AI requires capital. This is an important milestone for us, on our journey to become the leading European player in AI-infrastructure,” says Peter Michelson, CEO of EcoDataCenter.

“The demand for data centres that can combine the latest technology with high energy efficiency and with a low climate footprint is strong and constantly increasing. We are very well positioned to capitalise on the growth opportunities in the sector.”

In 2019, EcoDataCenter opened its first data centre in Falun, with the company recently partnering with AI-company CoreWeave to build one of Europe’s largest AI clusters in Falun. Earlier this month, EcoDataCenter purchased an industrial site in Borlänge with an initial capacity of 240 MW.

ABG Sundal Collier AB managed the bond issuance, and Roschier Advokatbyrå AB provided legal advice.