BREAKING NEWS

The EIB provides EUR 10 million loan to Flexenclosure

The European Investment Bank (EIB) and Flexenclosure  –  a Swedish high-tech manufacturer for the ICT industry – have signed a EUR 10 million loan agreement to support the company’s research and development activities and growth strategy. The EIB transaction with Flexenclosure was made possible by the European Fund for Strategic Investments (EFSI), which is the central pillar of the Investment Plan for Europe. It was launched by the EIB Group and the European Commission to boost the competitiveness of the European economy.

Mobile telephony, connected vehicles, electronic commerce, financial transactions, the Internet of Things – they are all generating ever increasing amounts of data which need to be managed closer to the people creating and consuming it. The resulting demand for reliable network access and data management is rapidly increasing across the world and Flexenclosure, a designer and manufacturer of data centres and telecom site power systems, is extremely well-positioned to build upon this new wave of economic growth.
The EFSI-backed EIB financing will support the research and development of Flexenclosure’s prefabricated modular eCentre data centres 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. It holds the promise of a better future, especially for young people, while, at the same time, backing EU manufacturers and the European ICT industry.”

“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 of 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.”

European Commission Vice-President Jyrki Katainen, responsible for Jobs, Growth, Investment and Competitiveness, said: “Flexenclosure is a European company which is bringing its innovative, disruptive technology to all the corners of the earth. I am very pleased that the Investment Plan for Europe is supporting tech companies, large and small, in a wide range of sectors.”

Flexenclosure has already successfully established itself across Africa and in parts of Asia and the Pacific.  More recently it has won orders to build five major data centres in South America, including Colombia, Paraguay, Chile and Ecuador.  And it has just announced a strategic partnership with Australian telecommunications provider Virtutel, with the intention to build up to 20 edge data centres across Australia.

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