EcoDataCenter Secures $703 Million for AI Data Centers in Sweden

September 10, 2025
EcoDataCenter has obtained $703 million in debt financing from Deutsche Bank to expand its AI data centers in Sweden, focusing on sites in Falun and Borlänge.

EcoDataCenter has secured $703 million in debt financing from Deutsche Bank to expand its AI data centers in Sweden. The funding will be used to accelerate the development of large-scale data centers in Falun and Borlänge, designed to support AI workloads and other compute-intensive applications.

The financing marks a significant step for EcoDataCenter, which, along with its owner Areim, has raised a total of €1.8 billion since 2023. The company aims to enhance its infrastructure to meet the growing demand for high-performance computing amid the AI boom.

EcoDataCenter's CEO, Peter Michelson, highlighted that the funding provides a two-year runway for the company's current plans, with potential for further expansion as demand continues to rise. The company has previously signed a deal with CoreWeave to build one of Europe's largest AI clusters in Falun and acquired the Kvarnsveden paper mill in Borlänge to develop additional data center capacity.

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