EcoDataCenter, a Swedish company specializing in eco-friendly colocation data centers, has secured $478 million (€450 million) in equity funding from institutional investors to expand its green data center technology and infrastructure. This brings its total equity funding to €910 million ($966 million), though its valuation remains undisclosed. Areim, its parent company, stated that an IPO is not currently being considered.
The funding comes amid growing demand for AI compute power, with EDC serving major customers like CoreWeave, DeepL, and hyperscalers. Notably, EDC is a key partner in building Europe’s first Blackwell cluster in Falun, Sweden, in collaboration with CoreWeave and Nvidia.
As power-hungry data centers account for about 1% of global electricity consumption, EDC stands out for its sustainability efforts, using renewable energy and pioneering cross-laminated timber construction—an approach now adopted by Microsoft.
The investment underscores the rising value of data centers amid the AI boom, paralleling global trends such as the U.S.’s ambitious $500 billion Stargate initiative to build mega AI data centers, backed by OpenAI and SoftBank.
