Mubadala invested in the Canada-based company alongside KKR in May 2023, with the latter acquiring a majority of the cooling business in the process. Financial terms of the acquisition were not provided. CoolIT operates across North America, China, and Taiwan, creating liquid cooling solutions for data centers and desktop computers that are designed to reduce operating costs and carbon emissions. “With the data center industry expected to consume eight percent of the world’s energy by 2030, liquid cooling plays a vital role in reducing the digital economy’s emissions footprint,” said Abdulla Shadid, Head of the Impact Investing team at Mubadala.