Mubadala Investment Company has announced that it invested alongside investment funds managed by KKR, a leading global investment firm, in the acquisition of CoolIT Systems (CoolIT), which was announced on 2nd May 2023.

Headquartered in Calgary, Canada, with operations across North America, China and Taiwan, CoolIT specialises 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 centre 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. Its impact investing strategy aligns with the objectives set out in the UN Sustainable Development Goals.

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.