PR96876

LONDON, July 6, 2022 /PRNewswire=KYODO JBN/ --

- Singapore impact private equity firm, ABC Impact, is investing in Iceotope to

drive the reduction of carbon emissions from data centres and contribute to the

achievement of net-zero emissions for the sector

- Syndicate includes nVent, a leading global provider of electrical connection

and protection solutions, and the SDCL Energy Efficiency Income Trust plc, a

FTSE 250 investment company, as strategic investors

Iceotope Technologies Limited ("Iceotope"), the global leader in precision

immersion cooling technology, today announced that it has closed a £30m funding

round from a global investment syndicate led by Singapore impact private equity

firm ABC Impact. Iceotope's environmentally efficient technology reduces the

energy and water required to cool data centre servers and contributes toward

the achievement of net-zero emissions for the data centre industry.

The global syndicate includes strategic investments from nVent - a leading

global provider of electrical connection and protection solutions, as well as

FTSE 250 investment company, SDCL Energy Efficiency Income Trust plc. Other

investors in this round include Northern Gritstone, British Patient Capital,

Pavilion Capital, and existing investor, Edinv.

As part of a strategic alliance with Iceotope, nVent will offer new modular

integrated solutions for data centres, edge facilities, and high-performance

computing applications. This alliance will further drive the rapid deployment

of Iceotope's technology globally through its holistic suite of data centre

solutions.

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 centres in the region are set to proliferate.

Iceotope's precision cooling solutions enable data centres 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

centres 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 centre servers more efficiently in a vertical rack form

factor. Given the global importance of the data centre 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."

While liquid cooling is long-established and has become the standard in

high-performance computing (HPC) applications, air-cooling had been the

preferred approach in cooling large data enterprise, co-location and cloud data

centres. This situation is changing rapidly as the adoption of liquid cooling

accelerates, with the global data center liquid cooling market expected to grow

at a CAGR of 24.8%[1] to $6.4 billion by 2027.

Engineered to cool the whole IT stack, in every use case, from Hyperscale to

the Extreme Edge, Iceotope's patented Chassis-level Precision Immersion Cooling

offers up to 96% water reduction, up to 40% power reduction, and up to 40%

carbon emissions reduction per kW of ITE[2]. 100% sealed at chassis level,

Iceotope's liquid cooling solutions offer extreme cooling performance whilst

isolating and protecting the critical IT from the surrounding environment and

atmosphere. Industry-standard form factors allow simple maintenance and

hot-swapping to be carried out – in any location – with ease, without mess, nor

the need for heavy lifting gear.

Joe Ruzynski, nVent President of Enclosures said: "I'm excited to deepen our

relationship with Iceotope. Together we've created sustainable, innovative

cooling solutions that efficiently solve for heat and avoid downtime in data

centres. Moving forward, we have the opportunity to build on our success and

drive the next phase of precision immersion cooling solutions in an exciting

and growing space."

Jonathan Maxwell, founder and CEO of Sustainable Development Capital LLP,

SEEIT's investment manager said: "The data centre market is one of the fastest

growing sources of demand for power and cooling globally. We are delighted to

be supporting Iceotope in its efforts to expand the use of its innovative

energy efficient technology in this dynamic sector."

In the last 18 months, Iceotope has been widely recognised for innovation with

Edge Computing Product of the Year DCS Award 2021, Data Centre Magazine Top 10

Most Innovative Cooling Companies, STL Partners 100 Edge Companies to Watch

2022, and most recently Electrical Review and Data Centre Review Excellence

Awards in London winning Data Centre Design & Build Product of the Year and

Data Centre Cooling Product of the Year 2022.

Research and Markets; Global Data Center Liquid Cooling Market by Component,

End User, Data Center Type, Type of Cooling, Enterprise and Region - Forecast

to 2027:

https://www.researchandmarkets.com/reports/5610635/global-data-center-liquid-cooling-market-by?

Independently verified by Cundall: Desktop Study Report- Liquid and Air-Cooling

Compared

About Iceotope

Iceotope's chassis level precision immersion cooling solutions are engineered

to cool the whole IT stack, in every use case, from Hyperscale to the Extreme

Edge. By removing the need for fans and air-cooling infrastructure, Iceotope's

technologies operate in near silence — bringing game-changing reduction in

energy and water consumption, and significant cost reductions in the design,

build and operation of data centres. For more information, visit:

www.iceotope.com.

About ABC Impact

ABC Impact is a Singapore-headquartered and Asia-focused private equity firm

dedicated to impact investing. We invest in companies that drive positive

change by addressing the world's most pressing challenges such as climate

change, resource scarcity, and deepening inequality. Our investment themes

include financial and digital inclusion, better health and education, climate

and water solutions, sustainable food and agriculture, and smart and liveable

cities.

We believe that investing with an impact lens demonstrates the positive power

of private capital and can help to foster more innovative and resilient

companies that deliver societal and environmental benefits. We are a

disciplined investor with a rigorous and evidence-based impact assessment

approach that aims to generate positive and measurable social or environmental

outcomes, alongside a compelling risk-adjusted return for our investors.

Our investment themes are aligned with the ABC Framework for an Active Economy,

a Beautiful Society, and a Clean Earth. The ABC Framework was established by

Singapore investment company Temasek and builds on the ideals of the 17

Sustainable Development Goals set by the United Nations.

Our inaugural S$405 million fund includes investors such as Temasek Trust,

Temasek, Pavilion Capital, Mapletree Investments, Seatown Holdings, Sembcorp

Industries, and Singapore Power.

Visit www.abcimpact.com.sg for more information. Our latest Impact Report,

"Inspiring Impact", is available at www.abcimpact.com.sg/impactreport2021.

About nVent

nVent is a leading global provider of electrical connection and protection

solutions. We believe our inventive electrical solutions enable safer systems

and ensure a more secure world. We design, manufacture, market, install and

service high performance products and solutions that connect and protect some

of the world's most sensitive equipment, buildings and critical processes. We

offer a comprehensive range of enclosures, electrical connections and fastening

and thermal management solutions across industry-leading brands that are

recognized globally for quality, reliability and innovation. Our principal

office is in London and our management office in the United States is in

Minneapolis. Our robust portfolio of leading electrical product brands dates

back more than 100 years and includes nVent CADDY, ERICO, HOFFMAN, RAYCHEM,

SCHROFF and TRACER. Learn more at www.nvent.com.

nVent, CADDY, ERICO, HOFFMAN, RAYCHEM, SCHROFF and TRACER are trademarks owned

or licensed by nVent Services GmbH or its affiliates.

Media Contacts

Iceotope Technologies Ltd

Damien Wells, Spa Communications <https://spacomms.com/>

e: dwells@spacomms.com

m: +44 (0) 7900 302102

ABC Impact Media Contact

e: media@abcimpact.com.sg

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Source: Iceotope Technologies Limited