Iceotope, the green IT company, has secured $10 million-worth of funding and a game-changing partnership with global energy management specialist Schneider Electric.
Advanced Manufacturing Park-based Iceotope, founded by IT entrepreneur Peter Hopton, has won a series of awards for its ground-breaking technology, which slashes the costs of cooling massive data centres.
This investment will allow Iceotope to further commercialise its innovative cooling solutions for the £250 billion global data centre and High Performance Computing (HPC) markets.
The company will use the funding to hire more staff, take its technology to new parts of the world, introduce new products and target larger transactions and more ambitious supercomputing projects.
Peter Hopton said: “This really is the deal of the century for us.
“As a start-up in the north of England, it’s fantastic that Iceotope’s technology has attracted the investment of an international consortium. We strongly believe that our technology has the potential to revolutionise the HPC and data centre industry and we’re thrilled that it’s not gone unnoticed.
“The support provided by our new investors, along with a new partnership opportunity with Schneider Electric, will have a big impact on the development of the company and will allow Iceotope to build a global product ecosystem based on Iceotope liquid cooling platform.” Aster Capital, an international venture capital firm specialising in clean technology, led the transaction alongside Ombu Group, a UK investment company committed to backing high growth technology businesses.
The deal also allows Iceotope to establish close cooperation with Aster’s strategic sponsors, particularly Schneider Electric.
John Bean, director of data centre cooling research and development at Schneider Electric, said: “We have been looking at various technical approaches to liquid cooling for years and concluded that Iceotope has created a scheme that addresses performance and user experience expectations.”
Iceotope’s revolutionary technology radically cuts the cost of keeping computer servers cool by sealing their motherboards inside a metal cartridge filled with a liquid that does not conduct electricity.
Heat transferred from the motherboard to the fluid is conducted away by water circulating in pipes running through the server cartridge and can then be recovered for use in central heating systems.
Since Iceotope installed its first production system at the University of Leeds in early 2012, the company has begun rolling out its cooling system throughout Europe. As part of this, Iceotope recently equipped the Poznan Supercomputing and Networking Centre in Poland where it achieved industry leading environmental figures.