Borealis Data Center has secured a $135 million term loan and a $13 million revolving credit facility to fund its expansion in Iceland and Finland.
The financing was arranged with Infranity, a French infrastructure investment firm, and Iceland’s Arion Bank, with Pareto Securities acting as the financial advisor. Infranity provided the term loan, while Arion Bank contributed the revolving credit facility and a VAT facility.
Expanding Sustainable Data Centers for AI and HPC
Founded in 2014, Borealis Data Center operates three data center campuses in Iceland and another in Kajaani, Finland. The newly secured funds will enable the company to expand these sites, catering to AI and high-performance computing (HPC) customers who prioritize renewable energy and operational efficiency.
Björn Brynjúlfsson, CEO and co-founder of Borealis Data Center, emphasized the company’s commitment to delivering exceptional value to customers with sophisticated computing requirements. He noted that the financing would accelerate the company’s growth strategy and further enhance its capabilities.
Investor Confidence in Borealis Data Center’s Future
Georgios Tzimas, Investment Director at Infranity, expressed enthusiasm about partnering with Borealis Data Center, highlighting the company’s role in developing essential digital infrastructure that supports both technological advancement and sustainability. Similarly, Hákon Hrafn Gröndal, Managing Director of Corporate & Investment Banking at Arion Bank, acknowledged the growing opportunities in the data center market, expressing pride in supporting Borealis Data Center’s expansion and business development.
Vauban Infrastructure Partners’ Continued Support
Vauban Infrastructure Partners, which acquired a majority stake in Borealis Data Center in July 2021, continues to play an active role in its development. Sam Léa Zhang, Investment Director at Vauban and Board Chair at Borealis Data Center, described the financing as a testament to the strong partnership and an effective growth strategy.
With this new financing, Borealis Data Center aims to solidify its position as a leading sustainable data center operator in the Nordics, catering to the growing demand for green, high-performance computing infrastructure.
