Published on June 11th, 2013 | by Anneli Hidalgo0
IFC invests in Flexenclosure
The World Bank Group’s private sector arm IFC invests in Swedish Flexenclosure.
The ICT infrastructure provider has secured a US$24m (SEK160m) investment from IFC, the International Finance Corporation, and Andra AP-fonden (AP2). IFC is a member of the World Bank Group and the largest global development institution focused exclusively on the private sector. Industrifonden and Andra AP-fonden are two large Swedish investment funds. IFC is a new investor in Flexenclosure, whereas Industrifonden and Andra AP-fonden are existing owners.
According to Flexenclosure, the capital will be used to further develop the company’s eSite and eCentre technologies, “green” ICT solutions aimed mainly at the developing markets in Africa and Asia.
eSite is a portfolio of energy-efficient hybrid power systems for base station sites in areas where grid power is unavailable or unreliable. It can allegedly deliver a 90 per cent reduction in diesel fuel consumption, CO2 emissions and energy related operating expenses compared to traditional diesel based systems. eCentre is a prefabricated modular data centre solution, to house and power data and telecom equipment, specifically designed to be fast to deploy and fully future proof.
“We have an aggressive research and development programme and are growing our sales operations in emerging markets. During the last year we have opened offices in Nigeria, Kenya, Pakistan, India, Malaysia and Dubai. Having IFC as a strategic investor will give us access to their global expertise and network, further enhancing our expansion strategy,” said Flexenclosure’s CEO David King in a press release.
Flexenclosure CEO David King