ADQ’s Zero Two announced on Tuesday a strategic investment with Evolution Data Centres (Evolution), a leading sustainable data center platform in Southeast Asia.
The investment will provide Evolution with long-term growth capital aimed at accelerating the deployment of hyperscale-ready data centers across key Southeast Asian markets.
It also represents Zero Two’s first investment in Southeast Asia since its launch in 2022.
“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 centers that meet the region’s rapidly growing cloud and AI demands,” said Ahmed Al Hameli, CEO of Zero Two.
Zero Two to assume co-controlling position with Warburg Pincus
Under the terms of the transaction, Zero Two will assume a co-controlling position in Evolution alongside Warburg Pincus, establishing a strong institutional partnership to support the company’s continued growth.
“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,” said Darren Webb, CEO and co-founder of Evolution Data Centres.
This marks a significant milestone in Evolution’s growth journey, following Warburg Pincus’s initial investment in 2022 through a joint venture to develop and scale sustainable hyperscale data centers in Southeast Asia’s fast-growing markets.
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Evolution to become leading sustainable data center platform
Since Warburg Pincus’s 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.
“We see a high growth trajectory in modern data center capacity at scale across Southeast Asia’s significantly underserved markets, where cloud and AI demand is rising rapidly. With strong execution capabilities and the backing of leading investors and trusted local partners, Evolution is uniquely positioned as an early mover and leading sustainable data center platform in the region. We are pleased to have found a well-aligned and strategic partner in Zero Two to embark on this journey with us,” said Andrew Fitzpatrick, principal at Warburg Pincus.
