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Flexenclosure Receives $12 million R&D Loan from EIB

The European Investment Bank, and Swedish company, Flexenclosure, have signed a €10 million ($12 million) loan agreement to support the company’s research and development activities and growth strategy. The EIB transaction with the company was facilitated by the European Fund for Strategic Investments.
Flexenclosure Receives $12 million R&D Loan from EIB

The EFSI-backed EIB financing will support the research and development of Flexenclosure’s prefabricated modular eCentre data centers and intelligent eSite power management systems as well as its global growth strategy. The company’s systems are fully integrated, modular, factory tested for reliability and adaptable to local conditions.

“Creating opportunities in developing countries starts with connecting people – connecting those who have been disconnected from the economy,” said EIB Vice-President Alexander Stubb, responsible for EIB operations in Northern European countries. ”Our loan to Flexenclosure will enable the company to further sustainable development in some of the remotest areas of this planet.”

“In many countries around the world – especially developing nations – economic growth and prosperity are increasingly dependent on access to power, mobile connectivity and data management,” said David King, CEO, Flexenclosure. “This loan from the EIB is not only a confirmation of our expertise in these areas but also gives us the means to explore opportunities to compete and grow in the giant new market emerging in the wake of the world’s increasing digitization.”

Image: Recently completed award-winning Tigo Business Paraguay eCentre data center by Flexenclosure

Tags: Europe
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