Iceotope Technologies secures £30m funding from ABC Impact

Icetope Technologies has announced that it has successfully closed a £30m funding round from a global investment syndicate, led by the firm ABC Impact

Icetope Technologies is a precision immersion cooling specialist, developing innovative environmentally efficient technology to reduce the energy, water and consequent emissions that are currently required to cool data centre servers. 

In fact, Iceotope’s patented Chassis-level Precision Immersion Cooling can achieve a water reduction of up to 96%, up to 40% power reduction, and up to 40% carbon emissions reduction per kW of ITE.

As such, the Singapore-based impact private equity firm ABC Impact is investing in Iceotope to help the data centre sector reduce its carbon emissions, and reach its universal net-zero targets. 

Other investors in this round included nVent, SDCL Energy Efficiency Income Trust, Northern Gritstone, British Patient Capital, Pavilion Capital and Edinv. 

“We see vast potential to deploy this technology in Asia”

Shao Ming Tan, the Chief Investment Officer at ABC Impact, spoke about how the drive towards sustainability, and the need to future-proof the data centre sector, led ABC to make the investment

“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,” Shao added. 

“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.”

Growth predictions for the global data centre liquid cooling market set at a 24.8% CAGR

“Given the global importance of the data centre sector, which can only increase as edge facilities proliferate and extend to the far reaches of civilization, we look forward to accelerating our global deployment plan with the help of our new and existing investment partners,” said David Craig, the CEO of Iceotope Technologies. 

“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.”

Up until recently, air-cooling had been the preferred approach adopted in cooling large data enterprises, co-location and cloud data centres. 

However, this is rapidly changing. In fact, the global data centre liquid cooling market is accelerating dramatically, with growth predictions of a 24.8% CAGR, and a market value of $6.4 billion by 2027.

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