ADQ’s Zero Two makes first Southeast Asia move with co-control stake in Evolution Data Centres

ADQ’s Zero Two secures co-controlling stake in Evolution Data Centers: ADQ-owned digital infrastructure firm Zero Two made a strategic investment in Evolution Data Centers, joining US-based Warburg Pincus as a co-owner of the Southeast Asia-focused data centre platform, according to a press release. The financial terms of the transaction were not disclosed.

Zero Two’s investment will fund the expansion of Evolution’s hyperscale-ready, renewable-powered data centers in major Southeast Asian markets, targeting the region’s growing cloud and AI workloads. The firm has expanded its portfolio across Thailand, the Philippines, and Vietnam since Warburg Pincus first backed Evolution in 2022 via a JV.

About Zero Two: Founded in 2022, Zero Two has rolled out over 550 MW of data center capacity in Abu Dhabi and is now targeting global data center and high computing projects. The Evolution investment marks its first foray into Southeast Asia.

The UAE has been doubling down on data centres: ADQ partnered with American energy-focused investment firm Energy Capital Partners earlier this year to invest USD 25 bn in powering data centers, particularly in the US. Meanwhile, here at home, G42 is working on Stargate UAE, a 5 GW AI-optimised campus in Abu Dhabi, with the first gigawatt due in 2026, while Abu Dhabi’s MGX joined Microsoft and BlackRock to launch a USD 30 bn global AI infrastructure fund. State-owned telecom giant du also partnered with Microsoft on an AED 2 bn hyperscale data center in Dubai.

The story also got ink from Reuters.