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EcoDataCenter(EDC ) , a Swedish company that build eco - favorable data centre used by major compute providers to plow their AI traffic , has raise most half a billion dollars — $ 478 million ( € 450 million ) to be accurate — in prediction of more requirement .
The fairness funding , which is coming from a chemical group of unnamed institutional investor , will be used to cover developing young technologies for more “ fleeceable ” data center and to build those anatomical structure .
The word comes just two Clarence Shepard Day Jr. after one of EDC ’s major customers , the AI compute behemoth CoreWeave , filed for an IPOin the United States .
EDC has now raised € 910 million ( $ 966 million ) in fairness to engagement . Areim , the holding troupe that owns it , declined to say what the company ’s valuation is . The society did corroborate that twirl out EDC is not in the card .
“ We are focused on scaling EcoDataCenter and deliver long - full term value , supported by the strong backing of our investors , ” say Robert Björk , an investment manager for Areim and board member EcoDataCenter . “ While we continuously evaluate strategical opportunity for the company , including potential future financing options , an IPO is not something we are actively pursue at this stage . ”
EcoDataCenter ’s focus has been to work up data centers — specifically , co - location space where client convey in some or all of their own waiter and related to hardware — that are more sustainable . It ’s a timely travail : research from theInternational Energy Agencyhas shown how power hungry large information centers can be .
The IEA has feel that these data point centers have power demands of 100 MW or more , “ with an yearly electricity ingestion equivalent to the electrical energy demand from around 350,000 to 400,000 galvanising car . ” The IEA also estimated that data centers together with describe for 1 % of all global electricity consumption .
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In that context , EDC is notable for not just helping to meet the ostensibly unsatiable demand for compute electrical capacity , but also for trying to do that in an eco - favorable mode — one that is now influence others .
“ We were the first company in the globe to start construct in what ’s called cross - laminated timber , ” EDC ’s chief executive officer Peter Michelson said in an interview . “ Now Microsoft is following . ”
EDC also uses renewable zip to power its construction and proceed to work on new glide path and materials for more efficient chilling and operations .
EcoDataCenter ’s other customers include DeepL and the “ hyperscalers . ” The latter company do build their own data centers , but they also load balance wheel by take space in those build by third parties , like EDC .
While it has a issue of customer that extend out of doors of technical school such as BMW , EDC is perhaps well known as the partner of CoreWeave . It ’s also the prominent hosting supplier for aprojectin collaborationism with CoreWeave and Nvidia to build the first Blackwell cluster in Europe , in the Swedish town of Falun , plan to bring more compute capacity to Europe .
The size of EDC ’s fundraise play up how worthful data centers — specially co - location centers that countervail major capex spend for its customers — have become in the current hype oscillation for AI .
That is a global rush . Most notably , the U.S. in January announcedStargate , a $ 500 billion projection that the U.S. kicked off with support from OpenAI , SoftBank , and others to ramp up mega AI data centers . ( The programme is only that at this point : announced days after Trump took bureau , it served to drive home an idealized picture of the novel administration as not just tech - friendly , but aggressively so . )
“ There ’s a wad of infrastructure - type capital implosion therapy into the data nub distance , given that it ’s literal acres substructure now becoming more tech oriented , ” said Michelson .
That real estate of the realm lynchpin could provide a hint into how the current judicature , and peculiarly President Trump — whose professional life set off in material estate — were sold on their own with child data heart effort .
