Verne Global, a subsidiary of Reykjavik-based Verne Holdings, is building a 44-acre wholesale data center campus in Keflavik, Iceland that relies on the country’s abundant geothermal and hydroelectric resources to deliver 100% renewable power and free year-round cooling. By situating the facility on a former NATO Command Centre, the company aims to combine robust infrastructure with a markedly lower carbon footprint than traditional data centers. Its offering targets enterprises seeking sustainable, cost-efficient colocation capacity. The current project is designed to be completely carbon neutral, emphasizing energy efficiency and environmental responsibility. An equity investment from the Wellcome Trust will fully fund completion of the campus’s first phase, giving the company the capital required to bring initial capacity online. Existing backers include General Catalyst and Novator, which underscores continuing venture support for the project. No operating metrics such as revenue or customer count were disclosed in the article.

Total raised

$125M

Funding rounds

3

Latest round

Equity

Latest activity

Jun 2020