EcoDataCenter Raises €600 Million to Expand AI data Centers in Sweden

EcoDataCenter is expanding AI data centres in Sweden. On September 9, 2025, the Swedish digital infrastructure provider announced that it had raised €600 million euros to support its expansion efforts as demand for high-performance computing soars. According to Reuters, EcoDataCenter secured the debt financing from Deutsche Bank, through its Private Credit and Infrastructure unit.

Accelerating Data Center Construction

The Swedish firm plans to use the latest 600 million euro investment from Deutsche Bank to fast-track construction of two large-scale data centers in the Borlänge and Falun regions of Sweden. EcoDataCenter AI infrastructure is designed to support AI workloads and other applications requiring high computational power.

If EcoDataCenter sticks to its current plans and expenses, the new Deutsche Bank AI data center lending will enable it to continue operating for two more years without needing more money. However, the company is likely to expand further as demand for high-computing power soars.

“If we were to stop building tomorrow, we would be a highly profitable company, but we obviously have ambitions for much more than that. Given where the market is heading, I wouldn’t be surprised to see that there will be a further acceleration of that, which also would mean more capital (is) needed,” EcoDataCenter CEO Peter Michelson said.

Sweden as a Data Center Hub

In recent years, data center construction has surged as tech companies rush to support more advanced AI systems that rely on power-intensive infrastructure. In August, 2025, Meta secured $29 billion to support its AI data center expansion in rural Louisiana, in the U.S.

The Swedish AI infrastructure provider announced the latest EcoDataCenter funding from Deutsche Bank months after Swedish investment company Areim raised €450 million.
Areim is EcoDataCenter’s parent company. Collectively, the two companies have raised €1.8 billion in financing since 2023. Sweden has been attracting data center investments from leading tech companies like Meta, Alphabet, and Microsoft.

These tech companies are expanding their infrastructure in the country due to its connectivity and reliable power. EcoDataCenter launched its first data center in 2019. Since then, the Swedish digital infrastructure provider has attracted customers such as the German automaker BMW and translation firm DeepL.

In 2024, EcoData partnered with CoreWeave to construct one of the largest training clusters in Europe. In recent months, CoreWeave has been keen to boost its AI capabilities through strategic acquisitions. Recently, the specialized cloud provider acquired OpenPipe in a bid to grow its technology stack with fine-tuning and reinforcement learning capabilities.

Focus on Building Large Data Centers

EcoDataCenter’s long-term strategy is to focus on large-scale developments. In April 2025, the data center operator divested three facilities to a Finnish investment company, CapMan Infra. Two of the facilities were located in Stockholm and one in Piteå.

According to EcoDataCenter, the sale was part of its plan to focus its operations on the design, building, and operation of large data centers. “This sale marks an important strategic milestone for EcoDataCenter, where we are now focusing on what we do best. Namely, designing, building, and operating large-scale data centers for AI and cloud services. We will continue to expand our business and strengthen our position to meet the growing demand for innovative data centers,” Michelson said at the time.

Established in 2015, EcoDataCenter launched its first facility in Falun in 2019. In the same year, it acquired the Piteå data center, a facility that was previously owned and operated by a firm called Fortlax. EcoDataCenter acquired the data centers in Stockholm in 2020. The energy capacity of the Piteå facility was 4.5MW, while combined, the two Stockholm facilities generated 4MW.