EcoDataCenter raises EUR 170 million in debt financing to accelerate ambitious growth plans

EcoDataCenter raises EUR 170 million in debt financing to accelerate ambitious growth plans

EcoDataCenter, a pioneering force in sustainable data centers has successfully raised EUR 170 million in debt financing from a consortium of banks. This substantial financial injection is poised to accelerate EcoDataCenter’s expansion within the Nordic market. This achievement follows the recent closing of Areim DC Fund, boasting an additional EUR 447 million in committed capital from EcoDataCenter’s owner, Areim.

"This funding is a critical component of our growth strategy and a testament to the exciting journey we are on with the support of significant partners from global capital markets”, says Peter Michelson, CEO at EcoDataCenter.

The funds raised through this debt financing will be strategically deployed to enhance the capabilities of EcoDataCenter's campus in Falun, EcoDataCenter 1, strengthening its position as a sustainability leader in the data center industry. As an increasing number of clients turn to the Nordics for their computational requirements, rapid scalability has become paramount.

“For years, there has been talk of relocating computational capacities to the Nordics. With the rise of AI and High-perfomance Computing, we are witnessing this transition, and we believe this is merely the start," commented Michelson.

EcoDataCenter’s owner, Areim, is also witnessing a substantial interest in the Nordic region propelled by a desire to invest in sustainable data centers.

“This serves as further affirmation of our strategic decision to invest in the data center sector in the Nordic region. We are grateful for the trust our stakeholder has placed in us as we advance the growth of EcoDataCenter. The sector is expanding, emphasizing the pressing need for a responsible and sustainable transition — a transformation to which we are actively contributing through EcoDataCenter", says Therese Norling, Fund Manager at Areim.

The consortium of banks providing the facility comprises KfW IPEX and Kommunalkredit as Global Coordinators and Mandated Lead Arrangers, and Investec and NIBC as Mandated Lead Arrangers.

LionTree served as financial adviser to the company and White and Case LLP acted as legal adviser.

For more information:

John Wernvik, Chief Marketing and Communications Officer, EcoDataCenter, +4670-899 31 66, john.wernvik@ecodatacenter.se