Synthesis Analytics, the Swedish innovator combining green high-performance computing (HPC) and intelligent, sustainable district heating, has launched the first GBP 40 million tranche of a GBP 300 million fund-raising round to fuel the next stage of its growth.
Founded in 2017, Synthesis Analytics is the brainchild of CEO and serial Swedish entrepreneur, Niclas Adler. The company’s unique offering deploys compact high-performance and edge computing assets, powered by renewable electricity and cooled using an advanced immersion cooling design. The captured heat is then distributed for use in district heating networks, providing value to two entirely different stakeholders – all powered by nature.
Adler comments, “Synthesis Analytics innovates at the nexus between two seemingly unrelated but actually extremely complementary trends. On the one hand, our societies are becoming ever more reliant on data, and therefore ever hungrier for edge and high-performance computing capacity – which must be powered by renewable sources.”
“On the other, we must find a green way of keeping our communities warm; reducing the role of oil and gas in our district heating networks. Others have drawn the connection between the two trends, but no one else has designed a new solution from the ground-up that solves both challenges,” continues Adler.
The bond has been sized at GBP 300 million, with the first tranche of GBP 40 million trading on the Dublin and Frankfurt stock exchanges in both GBP (ISIN: GB00BM8QTK66) and USD (ISIN: GB00BM8QTL73). Future tranches are planned in both EUR and SEK. Bedford Row Capital acts as lead manager.
The bond has a second party opinion carried out and awarded on 12/05/20 by Sustainalytics in accordance with the Green Bond Principles by ICMA – which can be downloaded here. The capital will be used to build the first 32 EDGE1 HPC Centres and for further development of the company’s production facilities.
Erik Beijnoff, Chief Technology Officer at Synthesis Analytics, adds, “We have the team in place, the deals signed and production facilities ready to go. This first-stage fundraise allows us to fire the starting gun on the projects already in the pipeline, which is itself step one in our plan to bring green heating and computing to the rest of Sweden, the Nordics and beyond.”