Wednesday, January 22, 2014

News: Irwin Mitchell advises on Iceotope’s "deal of the century"

By

Law firm Irwin Mitchell, which has offices in Sheffield, played a key role in Iceotope, the hi-tech firm based on the Advanced Manufacturing Park (AMP) in Rotherham, recently completing a $10m round of fundraising.

Working with the University of Leeds, the enterprise is developing a new system that reduces the power consumed in data centres by using liquid rather than air to provide cooling, eliminating the need for power-hungry fans.

Iceotope described the investment as the "deal of the century" and said that it is planning to use the investment, which has been provided by Aster Capial and Ombu Group, to expand its global reach, build its product range and target larger supercomputing projects.

Jean-Marc Bally, managing partner at Aster Capital, said: "Iceotope can deliver breakthrough energy efficient solutions into the area of data centres infrastructure.

"We have been impressed by the effort and the progress made by the Iceotope team in the last couple of years and we envision that, thanks to our corporate sponsors, especially Schneider Electric and Solvay, we will be able to strongly support Iceotope development and make it the future liquid cooling market leader within HPC and data centre markets."

Andrea Cropley, partner and Head of Irwin Mitchell's Corporate team in the North of England, advised Investment Partners, Iceotope's existing investor, in relation to the funding deal.

Andrea said: "I'm delighted to have advised on this deal as it represents a significant investment for the business and should provide a major boost for its international expansion plans.

"Iceotope is extremely innovative and demonstrates what the Yorkshire business community can offer. It clearly has huge potential and I look forward to seeing it develop during this exciting phase of its expansion."

Iceotope website
Irwin Mitchell website

Images: Iceotope

0 comments:

Sponsored by:
Members:
Supported by:
More news...

  © Blogger template Newspaper III by Ourblogtemplates.com 2008

Back to TOP