Immersion Cooling Firm Iceotope Secures £30M in Funding

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Iceotope Technologies has concluded a £30 million funding round from a group of international investors led by Singapore’s ABC Impact. Iceotope’s ecologically friendly immersion cooling technology would help the data center sector reach net-zero emissions by lowering the amount of electricity and water needed to cool servers.

A major producer of electrical connection and protection systems, nVent, and FTSE 250 investment firm SDCL Energy Efficiency Income Trust each made important investments in the worldwide syndicate. Pavilion Capital, Northern Gritstone, British Patient Capital, and current investor Edinv are additional investors in this round.

As part of a strategic alliance with Iceotope, nVent will offer new modular integrated solutions for data centers, edge facilities, and high-performance computing applications. Through its comprehensive range of data center solutions, this agreement would help accelerate the global implementation of Iceotope’s technology.

“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 center servers more efficiently in a vertical rack form factor,” said David Craig, CEO at Iceotope Technologies. “Given the global importance of the data center 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.”

Proprietary Chassis-level Precision Immersion Cooling

David Craig, CEO at Iceotope Technologies
“Given the global importance of the data center sector, we look forward to accelerating our global deployment plan with the help of our new and existing investment partners,” said David Craig, CEO at Iceotope Technologies.

While air-cooling had been the chosen method for cooling large enterprises, colocation, and cloud data centers, liquid cooling has long been the norm in high-performance computing (HPC) applications and has now become an industry standard. As the use of liquid cooling increases, the situation is quickly shifting. By 2027, the global market for liquid cooling in data centers is predicted to rise at a CAGR of 24.8 percent.

“Climate and water solutions form a key investment theme for us. Given that a large share of data growth in the coming years is expected to come from Asia with the advent of IoT and the 5G rollout, data centers in the region are set to proliferate,” said Tan Shao Ming, Chief Investment Officer at ABC Impact.Iceotope’s precision cooling solutions enable data centers to transit to a more sustainable infrastructure with a reduced environmental and real estate footprint. By increasing efficiency in their use of energy and water, data centers can contribute to global efforts to reduce carbon emissions. We see vast potential to deploy this technology in Asia, especially regions with tropical climates, and we look forward to working with Iceotope to scale its positive impact.”

Iceotope’s proprietary Chassis-level Precision Immersion Cooling, engineered to cool the entire IT stack, in every use case, from hyperscale to the extreme edge, would offer up to 96 percent water reduction, up to 40 percent power reduction, and up to 40 percent carbon emissions reduction per kW of ITE.

Iceotope’s liquid cooling systems would provide high cooling performance while isolating and safeguarding the important IT from the environment and atmosphere. They are completely sealed at the chassis level. Industry-standard form factors would make it easy, mess-free, and without the need for heavy lifting equipment to perform simple maintenance and hot-swapping in any place.

““There has never been a greater demand for data due to the growing usage of content streaming, cloud computing and industrial automation,” said Joe Ruzynski, nVent President of Enclosures. “Increased data means higher energy usage and the need to efficiently solve for heat and avoid downtime. I’m excited that nVent and Iceotope are deepening their collaboration to deliver innovative cooling solutions for data centers that are more sustainable.”

“The data center market is one of the fastest growing sources of demand for power and cooling globally,” said Jonathan Maxwell, Founder and CEO at Sustainable Development Capital, SEEIT’s investment manager. “We are delighted to be supporting Iceotope in its efforts to expand the use of its innovative energy efficient technology in this dynamic sector.”