EcoDataCenter has secured €600 million in financing from Deutsche Bank as the firm continues to allocate capital to advanced digital infrastructure in Europe.
EcoDataCenter is a Swedish company that designs, builds and operates high-performance data centres, with a strong focus on supporting AI workloads, cloud services and supercomputing.
With the deal, the company continues to strengthen its capital base, having already secured approximately €1.8 billion in financing since 2023.
The company stated that the new funds will primarily support the ongoing expansion of the Falun and Borlänge campuses.
In 2024, the company entered into a partnership with hyperscaler AI CoreWeave to build one of Europe’s largest AI clusters in Falun.
Shortly afterwards, it acquired the Kvarnsveden paper mill in Borlänge to increase the capacity of its data centres.
EcoDataCenter opened its first facility in Falun in 2019 and has since expanded its presence with data centres designed for high computing capacity.
Over the years, it has attracted major clients such as BMW, DeepL and CoreWeave.
Peter Michelson, chief executive of EcoDataCenter said on Tuesday: “AI infrastructure is a new base industry, and we are building one of Europe’s most exciting companies in the sector.”
Johan Rydmark, chief financial officer of EcoDataCente said the platform continues to attract partnerships with “world-leading companies.”
“The fact that we can attract financing of this magnitude is a testament to the strength of our business model and the confidence the market has in our team and strategy. Now it’s full speed ahead,” Rydmark added.
The move comes as several important players in the market have recently invested in data centres and digital infrastructure.
Last week, reports suggested that OpenAI is drawing up plans for a hyperscale data centre in India that could supply at least one gigawatt of computing power.
Accoridng to sources at Bloomberg, the San Francisco start-up is meeting potential local partners and hopes to confirm a site in the coming months, with an announcement possible when founder Sam Altman visits India later this month.
In August, US asset manager Blackstone said it was looking to expand its planned project to build data centres in Spain’s Aragon, with an additional investment of €4.3 billion in the region striving to become a major cloud computing hub.
Documents filed with the regional government showed that aside from an initial investment of €7.5 billion over nine years that was disclosed in 2024, the world’s largest alternative asset manager plans a second phase to add capacity at the same site, depending on demand from customers, according to a report from Reuters.
