EcoDataCenter Teams with Real Estate Fund Areim to Magnify Climate Positive Data Centers
by Justin Hughes
STOCKHOLM, SWEDEN — Swedish developer of climate-positive data centers EcoDataCenter is working with Nordic real estate owner and fund manager Areim amp up its focus on carbon-positive and climate-adjusted data centers. EcoDataCenter finished a directed share issue of SEK 200 million subscribed by Areim which has made Areim the principal owner of EcoDataCenter.
Areim’s founder Leif Andersson, said, “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.”
Lars Thunell, Chairman of EcoDataCenter’s Board of Directors, said, “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.”
EcoDataCenter and Areim newly penned an agreement for a joint investment in data centers. As part of this agreement, Areim’s III real estate fund has bought into EcoDataCenter to become principal owner by subscribing to a directed share issue of SEK 200 million [USD 22m ; EUR 19.4m]. Areim is a Nordic property owner and manages, via its funds, capital on behalf of both Swedish institutions and some of the world’s largest institutional investors.
Lars Thunell, Chairman of EcoDataCenter’s Board of Directors, 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 centers from other large companies to consolidate the Nordic market and expand our concept with carbon dioxide positive data centers.”
Data centers consume large amounts of energy and therefore produce substantial environmental emissions, not least carbon dioxide. EcoDataCenter’s data centers are designed and built to produce a minimum of carbon dioxide emissions, leading to greater efficiency and lower costs.
Lars Schedin, CEO of EcoDataCenter, said, “Our concept provides us with far lower investment and operating costs and means we can offer highly competitive pricing. 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.”