Stockholm (NordSIP) – Nordic property owner and fund manager Areim has subscribed to a SEK 200 million directed share issue by EcoDataCenter, making it the principal owner of the company, which is in the final stages of constructing the world’s first carbon-positive data centre in Falun, Sweden.
Areim manages capital on behalf of Swedish institutions and some of the world’s largest institutional investors via its funds. The EcoDataCenter share purchase was made by its Areim III real estate fund.
“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,” said Areim founder Leif Andersson.
EcoDataCenter’s board of directors chairman Lars Thunell added that he hoped the joint venture would give them enough leverage to consolidate the market. “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,” he said.
“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.”
“This also provides us with the financial muscle to acquire existing data centres from other large companies to consolidate the Nordic market and expand our concept with carbon dioxide,” he added.
Data centres consume significant amounts of energy and consequently produce considerable environmental emissions, including generous amounts of carbon dioxide. EcoDataCenter’s data centres, by contrast, are designed and constructed to produce a minimum of CO2 emissions, resulting 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,” said 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.”