{"id":78313,"date":"2023-07-06T01:00:21","date_gmt":"2023-07-06T01:00:21","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/07\/06\/uaes-mubadala-acquires-a-stake-in-canadian-liquid-coolant-provider-company\/"},"modified":"2023-07-06T01:00:21","modified_gmt":"2023-07-06T01:00:21","slug":"uaes-mubadala-acquires-a-stake-in-canadian-liquid-coolant-provider-company","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/07\/06\/uaes-mubadala-acquires-a-stake-in-canadian-liquid-coolant-provider-company\/","title":{"rendered":"UAE\u2019s Mubadala acquires a stake in Canadian liquid coolant provider company"},"content":{"rendered":"

<\/a> Mubadala is acquiring a stake in CoolIT alongside US private equity firm KKR:<\/strong> UAE sovereign fund Mubadala Investment Company and US private equity firm KKR have jointly acquired Canada-based liquid cooling provider CoolIT Systems<\/a>, The National<\/a> reports. KKR first announced its acquisition plans in May<\/a> to support CoolIT\u2019s expansion plans in the global data center market. The financial value and the post-acquisition share structure were not disclosed.<\/p>\n

CoolIT has saved a lot of CO2:<\/strong> CoolIT has developed and patented a new technology called DLC that uses \u201cwarm liquid rather than cold air to dissipate heat from computer and server components,\u201d according to their website<\/a>. The company\u2019s patented coolant is designed to reduce operating costs and carbon emissions of data centers and digital infrastructure. By the end of 2021, the tech reduced energy consumption by over 1.1 bn kWh, saving some 780k metric tons of CO2 from being released to the atmosphere, according to a statement<\/a> released on their website. This is equivalent to emissions released from around 168k cars in one year.<\/p>\n

Why is this important?<\/strong> \u201cWith the data center industry expected to consume 8% of the world\u2019s energy by 2030, liquid cooling plays a vital role in reducing the digital economy\u2019s emissions footprint,\u201d head of Mubadala\u2019s Impact Investing Abdulla Shadid said.<\/p>\n

More about CoolIT:<\/strong> The company has headquarters in both Calgary, Canada and Connecticut, USA, three manufacturing warehouses in Canada and China and sales teams located around the globe. CoolIT conducted a customer case study<\/a> in Dhahran, Saudi Arabia for an undisclosed project.<\/p>\n","protected":false},"excerpt":{"rendered":"

Mubadala is acquiring a stake in CoolIT alongside US private equity firm KKR: UAE sovereign fund Mubadala Investment Company and US private equity firm KKR have jointly acquired Canada-based liquid cooling provider CoolIT Systems, The National reports. KKR first announced its acquisition plans in May to support CoolIT\u2019s expansion plans in the global data center […]<\/p>\n","protected":false},"author":1,"featured_media":78314,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2016],"tags":[255,11,79,50],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-78313","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-carbon-offsetting","tag-enterpriseclimate","tag-ma-watch","tag-mubadala","wpautop","entry"],"acf":{"mongo_id":"4ce7241f-c58c-41f0-a7cc-cd43290f1f8b","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2020\/10\/286.jpg","photo_position":"above","related_issue":[78299],"teaser":"","voice_url":""},"yoast_head":"\nUAE\u2019s Mubadala acquires a stake in Canadian liquid coolant provider company - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2023\/07\/06\/uaes-mubadala-acquires-a-stake-in-canadian-liquid-coolant-provider-company\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"UAE\u2019s Mubadala acquires a stake in Canadian liquid coolant provider company\" \/>\n<meta property=\"og:description\" content=\"Mubadala is acquiring a stake in CoolIT alongside US private equity firm KKR: UAE sovereign fund Mubadala Investment Company and US private equity firm KKR have jointly acquired Canada-based liquid cooling provider CoolIT Systems, The National reports. 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