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Flexenclosure secures $24m funding from World Bank, investment funds

Wed, 05/29/2013 - 18:36 -- Editor

Flexenclosure, a developer of power management systems and pre-fabricated data centres, has secured a $24m investment from the World Bank’s International Finance Corporation (IFC), and Swedish investment funds Industrifonden and Andra AP-fonden (AP2).

The capital injection will be used to further develop Flexenclosure’s eSite and eCentre technologies, ‘green’ ICT solutions aimed mainly at the developing markets in Asia and Africa.

eSite is a portfolio of energy-efficient hybrid power systems for base station sites in areas where grid power is unreliable or unavailable. eSite claims a 90% reduction in diesel fuel consumption, CO2 emissions and energy related operating expenses compared to traditional systems.

eCentre is a prefabricated, fully equipped modular data centre solution, to house and power data and telecom equipment, designed to be fast to deploy and fully future proof.

“An estimated 800,000 cellular base stations in emerging markets rely on diesel generators for their power supply,” said Andrew Bartley, IFC’s Chief Investment Officer for Telecoms, Media, and Technology.

“This is a great potential market for Flexenclosure’s innovative product offering. Its growth strategy is directly aligned with IFC’s goal to improve access to mobile-phone systems for people in rural areas in emerging markets while also reducing global greenhouse-gas emissions.”

Flexenclosure’s, CEO David King, said: “We have an aggressive R&D 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.”