Digitalisation is transforming lives and driving global business growth, but it depends on one essential foundation: data centres. As demand for AI and cloud services rises, so does the environmental impact. EcoDataCenter aims to change that by building sustainable, high-performance facilities powered by renewable energy. With a focus on reducing emissions and supporting local communities, it is setting new standards for responsible digital infrastructure.
The Swedish operator has secured €600 million in debt financing from Deutsche Bank Private Credit and Infrastructure. The fresh capital will fund the expansion of its flagship campuses in Falun and Borlänge, aimed at meeting surging demand for AI and cloud computing capacity. This will strengthen its position as a leading Nordic and European digital infrastructure player.
Betting big on AI growth
Founded in 2014 and led by CEO Peter Michelson, EEcoDataCenter designs and operates high-performance facilities optimised for compute-intensive workloads. Unlike many of its rivals, it pairs technological scale with a low-carbon footprint, an approach that has attracted global clients, including BMW, DeepL, and AI hyperscaler CoreWeave.
The new financing follows a series of moves that highlight the company’s growth trajectory. In 2024, EcoDataCenter partnered with CoreWeave to develop one of Europe’s largest AI and HPC clusters in Falun. The company launched its Falun campus in phases beginning before 2019, with major expansion after that date, and has since focused its facilities on compute capacity.
It also acquired the former Kvarnsveden paper mill in Borlänge in 2022, repurposing the industrial site into a large-scale future data centre hub.
Together with majority owner Areim, EcoDataCenter has raised approximately €1.8 billion since 2023 through a mix of equity and debt financing. The scale of investment reflects the capital-intensive race to build AI-ready infrastructure across Europe, where hyperscale and enterprise demand are accelerating.
Sustainability as a differentiator
The rapid rise of generative AI has spotlighted the energy intensity of data centres. EcoDataCenter has sought to address this challenge head-on, designing its facilities to run on renewable energy and incorporating efficient cooling technologies. By reusing industrial sites like Kvarnsveden, the company also ties digital expansion to local economic renewal.
Its strategy positions it as one of the few European players able to compete with global operators while offering a greener alternative. For investors, the combination of scale, sustainability, and proven client demand makes EcoDataCenter a standout in an increasingly crowded market.
With €600 million in new capital secured, the company is doubling down on its Swedish campuses to cement its role in powering Europe’s AI economy.
“AI infrastructure is a new base industry, and we are building one of Europe’s most exciting companies in the sector. We are proud of the trust placed in us and look forward to continuing our journey toward becoming Europe’s leading player in high-performance data centres,” says Peter Michelson, CEO of EcoDataCenter.
“Our platform attracts partnerships with world-leading companies, and we have a proven ability to deliver the scale and flexibility to meet our customers’ demand. 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,” said Johan Rydmark, CFO of EcoDataCenter.
