Northern Gritstone announces investment in Iceotope Technologies
Northern Gritstone today announces its investment in Iceotope Technologies, the global leader in precision immersion cooling technology as part of a £30m funding round from a global investment syndicate led by Singapore impact private equity firm ABC Impact.
Iceotope’s environmentally efficient technology reduces the energy and water required to cool data centre servers and contributes toward the achievement of net-zero emissions for the data centre industry.
The investment syndicate includes nVent, a leading global provider in electrical connection and protection solutions, the SDCL Energy Efficiency Income Trust plc, a FTSE 250 investment company as well as British Patient Capital, Pavilion Capital and existing investor, Edinv.
Iceotope Technologies is based at the University of Sheffield’s Advanced Manufacturing Research Centre.
Commenting on Northern Gritstone’s investment in Iceotope, Duncan Johnson, Northern Gritstone chief executive, said: “Northern Gritstone is committed to supporting innovative businesses in the north of England dedicated to building the economy of tomorrow. Iceotope is a fantastic example of this: its technology provides a unique, science-led solution to a growing global challenge, enabling data centres to perform in more challenging environments and reducing their environmental impact by replacing air cooling with passive liquid cooling.
“This world-leading technology has been built, refined and tested here in the UK at the University of Sheffield’s Advanced Manufacturing Research Centre. We look forward to supporting Iceotope’s growth and the continued evolution of its technology.”
David Craig, CEO of Iceotope Technologies said: “This significant investment, one of the largest amounts recently invested in liquid cooling, is a testament to the great work of our designers for our customers across the globe, as well as the many technology and channel partners that have placed their trust in our ability to cool data centre servers more efficiently in a vertical rack form factor.
“Given the global importance of the data centre sector, which can only increase as edge facilities proliferate and extend to the far reaches of civilization, we look forward to accelerating our global deployment plan with the help of our new and existing investment partners.”
