A South Yorkshire-headquartered cooling technology specialist has closed a £30m funding round from a global investment syndicate led by Singapore-based private equity firm ABC Impact.
Iceotope Technologies, based at the Advanced Manufacturing Park, has developed technology designed to reduce the energy and water required to cool data centre servers and contribute toward the achievement of net-zero emissions for the data centre industry.
Alongside ABC Impact, the global syndicate includes investment from nVent – a provider of electrical connection and protection solutions, as well as FTSE 250 investment company SDCL Energy Efficiency Income Trust plc.
Other investors in this round include Northern Gritstone, British Patient Capital, Pavilion Capital, and existing investor Edinv.
As part of a strategic alliance with Iceotope, nVent will offer new modular integrated systems for data centres, edge facilities, and high-performance computing applications.
David Craig, chief executive at Iceotope Technologies, said: “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 civilization, we look forward to accelerating our global deployment plan with the help of our new and existing investment partners.”
Tan Shao Ming, chief investment officer at ABC Impact, added: “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.”
No advisers were named in relation to the transaction.