Mubadala Investment Company has invested alongside investment funds managed by KKR, a leading global investment firm, in the acquisition of CoolIT Systems (CoolIT).
Headquartered in Canada, CoolIT specializes in scalable liquid cooling solutions for the world’s most demanding computing environments. It has operations across North America, China, and Taiwan.
CoolIT’s patented liquid cooling technology is designed to reduce the operating costs and carbon emissions of data centers and digital infrastructure and to improve equipment reliability and longevity while allowing for higher server density than legacy air-cooling methods.
As per the statement, “Mubadala’s Impact Investing team invests in businesses providing solutions to critical environmental or social challenges, whilst generating financial returns. Its impact investing strategy aligns with the objectives set out in the UN Sustainable Development Goals.”
KKR invested in CoolIT through its Global Impact strategy, which is focused on identifying and investing behind opportunities where financial performance and societal impact are intrinsically aligned. The acquisition was announced on 2nd May 2023, according to the reports.
Mr. Abdulla Shadid, Head of the Impact Investing team at Mubadala, said that, “With the data center industry expected to consume 8 percent of the world’s energy by 2030, liquid cooling plays a vital role in reducing the digital economy’s emissions footprint.”
“We are pleased to invest alongside KKR to help CoolIT scale its best-in-class cooling solutions and better serve its global customer base while delivering a positive climate impact,” Mr. Shadid added.
Last month, Mubadala’s investee companies, Princeton Digital Group (PDG) and Tata Power Renewable Energy Limited, signed a landmark partnership agreement for the supply of clean electricity to one of PDG’s flagship data centers in India.
