In a move to seemingly bolster the coffers, EcoDataCenter has completed a directed share issue of SEK 200 million (€19.4 million) subscribed by Areim, making it the principal owner of the company.
EcoDataCenter is currently in the final stages in the construction of the world's first carbon-positive data center in Falun, Sweden, and it's this green mentality that the companies are looking to continue as they see tremendous potential in it.
“The dramatic rise in demand for data processing requires enormous amounts of energy and Sweden has a unique potential to build an industry around cost-efficient and green data processing,” says EcoDataCenter's board of directors chairman Lars Thunell.
Areim is a Nordic property owner and fund manager, and manages via its funds capital on behalf of both Swedish institutions and some of the world's largest institutional investors. Areim's III real estate fund has bought into EcoDataCenter to become principal owner.
“The collaboration with EcoDataCenter means we are entering a rapidly expanding industry with substantial future potential, and our shared expertise will enable us to create a new investment segment in the Swedish real estate market,” says Areim founder Leif Andersson.
Thunell hopes the joint venture will give them enough leverage to consolidate the market.
“Together with Areim, EcoDataCenter can create a distinct environmentally profiled and qualitative Nordic alternative for major international players interested in establishing operations in the Nordic countries,” says Thunell.
“This also provides us with the financial muscle to acquire existing data centers from other large companies to consolidate the Nordic market and expand our concept with carbon dioxide positive data centers.
It's no secret that data centers consume significant amounts of energy and as a result produce substantial environmental emissions – of which carbon dioxide is often prominent. Thunell asserts the company's data centers are designed and constructed to produce a minimum of carbon dioxide emissions, which results in greater efficiency and lower costs.
“Our concept provides us with far lower investment and operating costs and means we can offer highly competitive pricing,” says EcoDataCenter CEO Lars Schedin.
“From the outset, our concept is very attractive in a world that must transition to much more sustainable energy use, but the major cost advantages give us an additional competitive edge in the market.