EcoDataCenter, a partner of CoreWeave, has raised $478 million to expand the construction of sustainable data centers to meet the growing demand for AI computing.
EcoDataCenter, a Swedish company specializing in building environmentally friendly data centers, has announced a $478 million (450 million EUR) investment from a group of institutional investors. This capital will be used to develop new technologies for "green" data centers and build additional infrastructure.
This information was announced just a few days after CoreWeave, one of EcoDataCenter's major customers and a giant in the AI computing industry, filed for an IPO in the US. This latest funding round brings EcoDataCenter's total capital raised to 910 million EUR (966 million USD).
Strategic partner of major technology players
EcoDataCenter focuses on building sustainable data centers, particularly shared spaces that allow customers to host their own servers and hardware. This model meets the growing demand for computing power, especially in the context of the AI boom, while minimizing environmental impact. According to the International Energy Agency (IEA), large data centers consume enormous amounts of electricity, equivalent to the demand of 350,000 to 400,000 electric vehicles per year, accounting for about 1% of global electricity consumption.
EcoDataCenter is a pioneer in using sustainable building materials such as cross-laminated timber and renewable energy. The company also continuously researches new methods and materials to optimize cooling efficiency and operations.
EcoDataCenter's client list includes leading technology companies such as DeepL, hyperscalers, and even non-tech companies like BMW. Notably, EcoDataCenter is a strategic partner of CoreWeave, providing primary storage for the Blackwell project, the first AI computing cluster in Europe, built in Falun, Sweden, in collaboration with Nvidia.
This significant funding round highlights the immense potential of the data center market, particularly the shared-space model, in the context of the global AI computing boom. Investing in data center infrastructure is becoming an inevitable trend, as "infrastructure real estate is becoming technology," according to Peter Michelson, CEO of EcoDataCenter.
