EcoDataCenter, a Swedish company focusing on eco-friendly data centers, has secured $478 million in funding from institutional investors. This capital will support the development of greener data center technologies in light of rising demand, particularly fueled by clients like AI compute giant CoreWeave. The company has raised a total of $966 million in equity but does not plan an IPO. EcoDataCenter aims to address significant energy consumption issues posed by data centers, which account for 1% of global electricity use, by creating sustainable colocation spaces that reduce their environmental impact.
"We are focused on scaling EcoDataCenter and delivering long-term value, supported by the strong backing of our investors," said Robert Björk.
The International Energy Agency has shown how power hungry large data centers can be, with demands of 100 MW or more.
EcoDataCenter is notable for not just helping to meet the seemingly insatiable demand for compute capacity, but for translating that into eco-friendly solutions.
Research from the International Energy Agency has estimated that data centers collectively account for 1% of all global electricity consumption.
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