State splashes cash on floating data centres
By: Philip Connolly
The state has invested $5m (€4.2m) in a US technology firm that specialises in floating data centres.
Nautilus Data Technologies is to set up an Irish operation following the investment through the Ireland Strategic Investment Fund (Isif).
The state-backed fund has partnered with US investor Emerson Elemental, Singapore’s Keppel group and private investors in a $26m funding round.
Nautilus said that the investment would be used to “advance cutting edge green technology for ultra-efficient, water-cooled data centres”, which can be situated either on waterborne barges or on land adjacent to a large water source. It added it would also begin building new modular data centres in Ireland.
“Ireland is home to some of the world’s biggest data centres and is well placed to become a global leader in innovative data centre technology,” said Paul Saunders, Isif’s head of innovation and special investments.
At full capacity, the first Nautilus data centres to be built in Ireland are expected to generate up to $40m of revenue annually.
Saunders added: “It’s a great example of the fund’s mandate of generating a commercial return in addition to supporting economic activity and employment in Ireland.”