14 DAY TRIAL // A start-up by the name Iceotope has successfully raised funds amounting to an impressive $10 million (€7.31 million), and intends to use this money to help improve on the ecological footprint of data centers around the world.
The company, which is based in the city of Sheffield in the United Kingdom, says that it will use the money to make its innovative liquid cooling technology for data centers more popular.
Specifically, the funds will serve to add to the company's workforce, boost sales, step up marketing activity and expand the product portfolio.
Business Green details that the liquid cooling technology that the folks at Iceotope wish to see more data centers in various regions of the world employ has high chances to render air conditioning and other run-off-the-mill cooling methods obsolete.
This is not only because it helps a given data center cut down on its yearly greenhouse gas emissions, but also because it can reduce the facility's annual energy use by as much as 50%.
The same source tells us that Iceotope bases its claim that its cooling technology can halve energy consumption and also lead to a drop in a facility's greenhouse gas emissions on data collected after the system was put to work at the University of Leeds in the United Kingdom back in 2012.
Information shared with the public says that Iceotope got the $10 million it plans to spend on expanding business with the help of capital firm Aster Capital and UK investment firm Ombu Group.
Thus, the former of these two companies was the one to lead a funding round, whereas the latter backed up the initiative. Apart from obtaining these funds, Iceotope has entered a partnership with international engineering company Schneider Electric.
“The support provided by our new investors, along with a new partnership opportunity with Schneider Electric, will have a big impact on the development of the company and will allow Iceotope to build a global product ecosystem based on Iceotope liquid cooling platform,” Peter Hopton, Iceotope founder and chief executive, said in a statement.
“As a start-up in the north of England, it's fantastic that Iceotope's technology has attracted the investment of an international consortium. We strongly believe that our technology has the potential to revolutionise the high performance computing (HPC) and data centre industry and we're thrilled that it's not gone unnoticed,” he added.