Abu Dhabi’s Mubadala, KKR acquire Canada-based liquid cooling solutions firm

CoolIT Systems-1688538113844 — The investment will support the CoolIT's ability to scale and serve its global customers across the data centre market. Image Credit: Supplied

Abu Dhabi: Mubadala Investment Company and KKR have partnered to acquire Canada-based CoolIT Systems, it was said on Wednesday.

Headquartered in Calgary, Canada with operations across North America, China and Taiwan, CoolIT specializes in scalable liquid cooling solutions for the world’s most demanding computing environments.

CoolIT’s patented liquid cooling technology is designed to reduce the operating costs and carbon emissions of data centres and digital infrastructure and to improve equipment reliability and longevity while allowing for higher server density than legacy air-cooling methods.

“With the data center industry expected to consume 8 per cent 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.”