Dubai, UAE — Mubadala Investment Company has announced that it invested alongside investment funds managed by KKR, a global investment firm, in the acquisition of CoolIT Systems (CoolIT), which was announced on 2 May 2023.
Headquartered in Calgary, Canada, with operations across North America, China and Taiwan, specializes in scalable liquid cooling solutions for computing environments.
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, Mubadala said.
“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,” said Abdulla Shadid, Head of the Impact Investing team at Mubadala.
“We are pleased to invest alongside KKR to help CoolIT scale its best-in-class cooling solutions and better service its global customer base, while delivering a positive climate impact,” he added.
Mubadala’s Impact Investing team invests in businesses providing solutions to critical environmental or social challenges, whilst generating financial returns.
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.
