Liquid cooling specialist Iceotope has got £30 million ($36m) funding from a syndicate of investors.
The funding group is led by Singapore-based investment firm ABC Impact, and also includes electrical connector and rack specialist nVent
Iceotope makes rack-based immersion cooling systems, where inert coolant circulates around the computing electronics within a sealed chassis, instead of the horizontal coolant baths favored by rivals such as Submer and Asperitas. The company already has a partnership with nVent, which has incorporated Iceotope's cooling systems into its products. Along with this announcement, nVent said it would offer new modular products for data centers and Edge facilities, based on the Iceotope chassis.
That partnership was announced in November 2021, and follows previous deals in which Iceotope's chassis was integrated with Schneider Electric's cabinets.
The funding syndicate also includes the SDCL Energy Efficiency Income Trust plc, a FTSE 250 investment company. Other investors in this round include Northern Gritstone, British Patient Capital, Pavilion Capital, and existing investor, Edinv.
Tan Shao Ming, chief investment officer at ABC Impact said: “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. 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.”
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 center servers more efficiently in a vertical rack form factor. 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."
Iceotope says its chassis reduces power use by up to 40 percent, with a sealed quiet product that still allows hot-swapping and maintenance.