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British Patient Capital invests £5m in Iceotope Series B round

British Patient Capital has invested £5 million in Iceotope, a Sheffield-based developer of immersion cooling solutions for data centres and other IT infrastructure, as part of a £30 million Series B round.

British Patient Capital has invested £5 million in Iceotope, a Sheffield-based developer of immersion cooling solutions for data centres and other IT infrastructure, as part of a £30 million Series B round.

The investment has been made via Future Fund: Breakthrough, British Patient Capital’s £375 million programme where it co-invests with private sector investors in innovative, R&D-intensive UK companies. The round was led by ABC Impact, and joined by nVent, SDCL Energy Efficiency Income Trust plc, Northern Gritstone, Pavilion Capital and Edinv.

Headquartered in Sheffield, Iceotope’s unique, liquid-based, precision cooling technology provides a low-cost, high-performance solution for efficient cooling of data processing IT equipment, whilst also reducing the sector’s carbon emissions and water usage.

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