Continuing with its impact investing commitment, Mubadala Investment Company partnered with private equity firm KKR to acquire CoolIT Systems, a Canada-based company that specializes in liquid cooling solutions. The acquisition was first announced in May.
CoolIT Systems’ technology reduces f operating costs and carbon emissions of data centers and digital infrastructure. Abdullah Shadid, Head of the Impact Investing team at Mubadala, says, “With the data center industry expected to consume 8% of the world’s energy by 2030, liquid cooling plays a vital role in reducing the digital economy’s emissions footprint.”
Shadid added that the investment works to scale the best cooling solutions and deliver a positive return for climate impact. Mubadala’s overall fund impact investing strategy aligns with the United Nations’ Sustainable Development Goals.
KKR invested in CoolIT for its Global Impact Strategy, which aims to identify and invest in companies with balanced financial performance and societal impact.
Last October, the two companies said that this partnership would also see an investment of at least $1 billion in long-term capital to l provide credit solutions for companies and sponsors in the Asia-Pacific region.
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