Flexenclosure secures €10m loan from EIB
Flexenclosure, a provider of prefabricated data centres, has agreed a €10 million loan from the European Investment Bank, it has announced.
The loan will help the Swedish firm in its research and development activities whilst also helping to drive its growth strategy, and was made possible by the European Fun for Strategic Investments.
It will be used to support R&D work around Flexenclosure’s prefabricated modular eCentre data centres and intelligent eSite power management systems. These can be used to provide sustainable internet infrastructure in emerging markets.
“Creating opportunities in developing countries starts with connecting people - connecting those who have been disconnected from the economy,” said EIB vice-president Alexander Stubb, responsible for EIB operations in Northern European countries.
”Our loan to Flexenclosure will enable the company to further sustainable development in some of the remotest areas of this planet. It holds the promise of a better future, especially for young people, while, at the same time, backing EU manufacturers and the European ICT industry.”
European Commission vice-president Jyrki Katainen, responsible for jobs, growth, investment and competitiveness, said: "Flexenclosure is a European company which is bringing its innovative, disruptive technology to all the corners of the earth. I am very pleased that the Investment Plan for Europe is supporting tech companies, large and small, in a wide range of sectors."
Flexenclosure’s eSite x10 is a power system purpose-built for outdoor telecom sites and to outdoor telecom standards, whilst eCentre is a state-of-the art, custom-designed, prefabricated and pre-integrated data centre building certified up to Tier IV level.
Both were designed and developed by the Swedish firm, which was founded in 1989 and counts the likes of ACS, Airtel, Apollo Towers, IHS Towers, Millicom, MTN, Vodacom and Zain amongst its customers.
"In many countries around the world – especially developing nations – economic growth and prosperity are increasingly dependent on access to power, mobile connectivity and data management," said David King, CEO, Flexenclosure.
"This loan from the EIB is not only a confirmation of our expertise in these areas but also gives us the means to explore opportunities to compete and grow in the giant new market emerging in the wake of the world’s increasing digitization."