Abu Dhabi-headquartered Zero Two, an ADQ company involved in digital infrastructure development and investment, has invested in the Singapore-based Evolution Data Centres (Evolution).
Zero Two will assume a co-controlling position alongside Warburg Pincus, one of the early investors in the company.
Evolution, founded in 2021, is a leading sustainable data centre platform in Southeast Asia. Zero Two did not disclose any financial details of the transaction, but it was the company’s first investment in Southeast Asia since its launch in 2022.
Zero Two expands into Southeast Asia
Since Warburg Pincus’ initial investment, Evolution has significantly expanded its portfolio across Thailand, the Philippines, and Vietnam, all of which will be powered by renewable energy via Power Purchase Agreements (PPAs) with leading renewable energy providers.
Zero Two’s investment in Evolution will provide long-term growth capital aimed at accelerating the deployment of hyperscale-ready data centres across key Southeast Asian markets.
Ahmed Al Hameli, CEO of Zero Two, commented: “We are excited to partner with Evolution and Warburg Pincus to support the expansion of digital infrastructure across Southeast Asia.
“Evolution’s strong market positioning and leading execution capabilities make it a compelling fit for Zero Two’s long-term capital deployment strategy. Together, we aim to accelerate the scale-up of energy-efficient hyperscale data centres that meet the region’s rapidly growing cloud and AI demands.”
Darren Webb, CEO and co-founder of Evolution Data Centres, added: “We are absolutely delighted to welcome Zero Two as a strategic investor. Their support marks a major milestone for Evolution Data Centres and will significantly accelerate our mission to deliver sustainable, high-performance digital infrastructure across Southeast Asia.
“Together, with our investors and partners, we’re powering the next phase of digital transformation in the region.”
