EcoDataCenter said that the new capital will primarily support ongoing projects in Falun and Borlänge, including the development of large-scale AI infrastructure
In sum – what to know:
EUR 600m debt secured – EcoDataCenter raised financing from Deutsche Bank Private Credit and Infrastructure to support expansion in Falun and Borlänge.
AI projects drive growth – Investments follow partnerships with CoreWeave and the acquisition of Kvarnsveden mill to boost AI compute capacity.
EUR 1.8B raised since 2023 – The company and owner Areim have secured nearly EUR 2 billion to fund sustainable, large-scale digital infrastructure.
European data center operator EcoDataCenter has raised an additional EUR 600 million ($702 million) in debt financing from Deutsche Bank Private Credit and Infrastructure to expand its data center operations in Sweden.
The new capital will primarily support ongoing projects in Falun and Borlänge, including the development of large-scale AI infrastructure. EcoDataCenter previously partnered with AI hyperscaler CoreWeave in 2024 to build one of Europe’s largest AI clusters in Falun and later acquired the former Kvarnsveden paper mill in Borlänge to increase capacity.
Since 2023, the firm and its owner Areim have secured about EUR 1.8 billion in financing.
Founded in 2019 with its first facility in Falun, EcoDataCenter’s customers include BMW, DeepL, and CoreWeave.
Nordic real estate investor and developer Areim took a majority stake in the data center operator via the Areim Fund III for around SEK 200 million ($22 million) in 2018 and merged it with Swedish operator Fortlax in 2019. EcoDataCenter has been fully owned by the Areim DC Fund since 2023.
