EDGNEX Data Centers by DAMAC Confirms Strategic Partnership with Nordic Data Center Developer Hyperco
Hyperco's operations are focused on Finland and Sweden, leveraging the Nordic region's sustainable energy resources, mature digital ecosystems, and high connectivity. All three Hyperco founders, together with the team, will continue to steer the company forward during the next growth phase.
Hussain Sajwani, Founder of DAMAC Group said:"This acquisition aligns with our vision to develop strong partnerships, invest, and build scalable, world-class digital infrastructure. Hyperco brings a great team, deep market expertise, and a shared commitment to innovation, which will drive our success in the region. We plan to build a significant future capacity in the Nordics and establish a strong foothold in the market."
Aleksi Taipale, Co-founder and CEO of Hyperco adds: "This marks an exciting new chapter for Hyperco. Joining forces with EDGNEX and DAMAC Group empowers us to accelerate our mission of delivering large-scale, sustainable data center infrastructure tailored for hyperscalers and AI-driven workloads. With our established footprint in Finland and Sweden, access to low-carbon energy, and focus on scalability, we are well-positioned to meet the growing digital demands of the region and beyond."
Since its launch in 2021, EDGNEX has grown its presence globally. Backed by over 100+ seasoned professionals, the company is on track to deliver 55 MW in the Middle East by 2025, with a projected global capacity exceeding 3,000 MW. EDGNEX is targeting 300+ MW of operational capacity by 2026, supported by a robust investment pipeline of over $3 billion, including key Southeast Asian markets.
EDGNEX's recent European activities include a €150 million joint venture in Greece with Public Power Corporation (PPC) to develop up to 25 MW and a €400 million commitment to build a 40 MW data center in Madrid, Spain. Earlier this year, EDGNEX also announced $20 billion of foreign investment in building state-of-the-art data centres in the USA.
About EDGNEX
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Korea Herald
5 hours ago
- Korea Herald
Interview: ‘Lithuania is ready to be Korea's fastest gateway to Europe'
Vice Minister of Economy and Innovation says Lithuania courting Korean investment with vision of high-tech synergy Lithuania is intensifying its efforts to deepen economic ties with South Korea, positioning itself both as a gateway to European markets and as a partner in advanced industries ranging from high-tech innovation to clean energy. In an exclusive interview with The Korea Herald, Lithuanian Vice Minister of Economy and Innovation Marius Stasiukaitis outlined a strategic vision for bilateral cooperation focused on innovation-driven industries and streamlined investment processes. 'Korea and Lithuania share many parallels,' Stasiukaitis said. 'We're both relatively small nations that value democracy, technological advancement and resilience. These shared values form a solid foundation for a long-term partnership.' Central to Lithuania's pitch is its 'investment highway' -- a government-led initiative designed to significantly reduce red tape for foreign businesses seeking a European foothold. 'Large-scale investments, especially in sectors like defense, semiconductors and data centers, can expect regulatory timelines up to ten times faster than the European average,' Stasiukaitis said, emphasizing the country's ambition to become the fastest entry point into Europe, with incentives such as zero corporate tax for up to 20 years. 'Lithuania is not just offering incentives -- we're building an ecosystem,' he added. 'Our talent pool, regulatory flexibility and innovation infrastructure make us an ideal launch pad for Korean firms looking to expand across Europe.' He identified five key sectors where Korea and Lithuania have the greatest potential for collaboration: lasers, life sciences, clean technologies, financial technologies and the space industry. Lithuania is already a global leader in laser technology, with over 90 percent of its laser exports serving top-tier research institutions. However, the focus is now shifting toward industrial applications, where Korea's prowess in semiconductors, electronics and biotechnology offers a natural complement. 'We see enormous potential for collaboration in transitioning our laser technologies into high-impact industrial uses. Korean firms are leaders in those sectors and are ideal partners for joint innovation,' he said. In life sciences, Lithuania aims to generate 5 percent of its GDP from the sector and is already collaborating with its Korean counterparts to establish a co-funded research and development fund. On the fintech front, Lithuania leads the EU in per-capita fintech licensing, with Korean startups already engaged with the Lithuanian central bank to enter the European market. Lithuania is also betting big on clean technologies. The country has committed to producing 100 percent of its electricity from renewable sources by 2028. 'We're working with companies like SK E&S on LNG infrastructure, carbon capture and hydrogen projects. There's a strong appetite for joint development,' the vice minister noted. Despite its modest population of just 3 million people, Lithuania boasts one of the fastest-growing startup ecosystems in Europe, with the highest per-capita unicorn count in the EU, according to Stasiukaitis. Companies such as Vinted and NordVPN exemplify the country's entrepreneurial momentum. 'Korean startups looking to expand into Europe will find Lithuania to be fertile ground,' he said. 'Our government provides one of the most innovation-friendly environments in Europe, from regulatory sandboxes to generous R&D grants.' Still, the vice minister admitted that Korea-Lithuania cooperation is in the early stages. 'We need more high-profile success stories -- big-name Korean firms investing in Lithuania or joint R&D breakthroughs that show the world what's possible,' he said. Asked whether cultural or labor-related challenges might hinder Korean firms entering Lithuania, he dismissed the concern. 'What surprises many is how similar our work culture and priorities are,' the vice minister said. 'We both emphasize engineering excellence, long-term vision and technological leadership.' While Lithuania may not yet be a household name for Korean companies, Stasiukaitis is confident that the value fit is strong. 'Lithuania has already become a known investment destination for global leaders like Continental and Rheinmetall. Now it's Korea's turn to discover the opportunities here.' With embassies now established in both countries and bilateral interest growing in strategic sectors, the stage appears set for a deeper, more resilient partnership. 'Our message to Korean companies is simple,' he concluded. 'Lithuania is open, ready and eager to grow with you.'
Korea Herald
a day ago
- Korea Herald
Weichai's high-end marine power has been deeply cultivating the Southeast Asian maritime market
MANILA, Philippines, July 1, 2025 /PRNewswire/ -- In the booming maritime market of Southeast Asia, Weichai has won widespread recognition in the Philippine and surrounding markets with its strong technical strength and innovation capabilities, demonstrating its firm determination and strong strength to deeply cultivate the maritime market in this region. At the 2025 Philippine International Maritime & Ship Exhibition, Weichai made a grand debut with a series of high-end marine power products, attracting numerous professional visitors to stop and negotiate. Weichai's 12WH17 high-end medium-speed marine engine and 6F21 high-end boat engine are known as the "star products" in the Southeast Asian market. The 12WH17 medium-speed marine engine inherits technical advantages such as "high-strength vermicular iron body, international top-grade components, and Weichai's independent ECU electronic control system". With a fuel injection pressure as high as 2,200 bar, it is specially designed for inshore transport ships, engineering vessels, and passenger-fishing boats. It has achieved another upgrade in reliability, energy efficiency, and intelligence, fully meeting the complex navigation needs of various ships. The 6F21 high-end marine engine is adapted to the needs of high-end boats. Relying on Weichai's high-pressure common rail electronic control system, it not only achieves high-power output but also balances silent and environmental protection features, demonstrating industry-leading quality and setting a new power benchmark for the high-end yacht market. In addition, as an important supporting product for marine engine maintenance, Weichai genuine marine engine oil can meet the high-standard requirements of engines for lubrication and reliability in extreme environments, helping customers achieve the benefit expectation of "longer service life after purchase". The complete product ecosystem provides users with all-round protection. Relying on a product matrix with full-range coverage, wide applications, energy conservation and environmental protection, as well as an efficient service system, Weichai has built a "one-stop" marine power solution. This development model driven by dual wheels of technological innovation and service networks is accelerating its expansion in the Philippine and surrounding maritime markets. In the future, Weichai will continue to enhance its product promotion and localized operation capabilities, leverage its green and energy-saving advantages to assist the local shipbuilding industry in upgrading, inject high-quality, efficient and green sustainable power into the Southeast Asian shipbuilding industry, and further consolidate its leading position in the regional maritime market.
![[Shang-Jin Wei] Can Asia, Europe save world economy?](/_next/image?url=https%3A%2F%2Fwimg.heraldcorp.com%2Fnews%2Fcms%2F2025%2F06%2F30%2Fnews-p.v1.20250630.c049ded7f62f4dfa8492336bd5b5b453_T1.jpg&w=3840&q=100)
Korea Herald
2 days ago
- Korea Herald
[Shang-Jin Wei] Can Asia, Europe save world economy?
Countries around the world are confronting the same confluence of shocks. The continued breakdown of the global trading system, owing to a volatile US tariff policy, is now accompanied by the risk of disruptions to trade routes and oil production from military conflicts in the Middle East. Moreover, concerns about the safety of dollar-denominated assets are growing, because US President Donald Trump's 'big, beautiful' spending bill is expected to erode America's already-weak fiscal position. At the same time, the broad, geopolitically induced reshuffling of global supply chains continues, and the risk of climate and environmental breakdown has increased, especially now that the United States has withdrawn from the Paris climate agreement again. Given that everyone will suffer from these shocks, cooperation to ameliorate them should be a priority, especially for Asia and Europe. Both regions are heavily integrated into the global trading system, and both could be affected by the loss of US fiscal credibility. Many Asian countries' foreign-exchange reserves are heavily weighted toward dollar assets, and most of their external trade is invoiced in dollars. Similarly, climate change poses a major threat to all countries, but Europe, especially, has staked its future on the clean-energy transition. Simply put, the recent shocks threaten the foundation on which Asian and European countries have built their economic models: open trade, which itself is based on a rules-based system. The US has gone from being a rule-setter to becoming a rule-breaker. For example, Trump's misleadingly labeled 'reciprocal tariffs' explicitly violate the most-favored-nation principle, which prohibits any World Trade Organization member from maintaining different trade barriers for different countries except under a formal free-trade agreement. Trump has also violated the US commitment not to raise its tariff rates beyond WTO 'bound rates' — another cornerstone of the global system. Similarly, the US is undermining the dollar-centric system that Asian and European countries have long relied on for liquidity, trade financing, and financial risk management. The expected erosion of the US fiscal position, combined with Trump's capricious tariff policy, has cast doubt on the dollar's reliability. According to the non-partisan Congressional Budget Office, the budget bill that Trump wants Congress to pass will add an estimated $2.4 trillion to the $36 trillion of existing US debt (some 100 percent of US GDP in 2024). And with congressional Republicans poised to raise the debt limit by another $5 trillion, US federal government debt could reach 134 percent of GDP by the time Trump leaves office. Ernest Hemingway famously wrote that bankruptcy happens 'gradually and then suddenly.' Because the US has never technically defaulted, the recent rise in risk premia on government bonds can be said to fall within the 'gradually' phase. But investors must now consider the possibility of 'suddenly' coming sooner than previously thought. Rather than looking for separate hedging strategies, Asia and Europe would benefit more from collaboration. On the trade front, an enhanced framework between the European Union and the two big Asian trading blocs, the Regional Comprehensive Economic Partnership (RCEP) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), would establish trading rules for almost the whole world — regardless of what the US does. The key to a successful framework would be to keep all the WTO rules that have proven effective in driving trade and prosperity for the past seven decades, including the most favoored nation principle. But Asian and European leaders should also seek to improve upon the WTO rules that are deficient, including those governing subsidies and the conduct of state-owned firms. They also would need to resuscitate the WTO dispute-settlement mechanism, perhaps tripling the number of Appellate Body judges. On the climate front, the danger now is that other countries (such as Argentina) may follow the US in exiting the Paris agreement. To head off that possibility, Asia and Europe should pursue a common carbon-tariff framework. If the world's two largest trading regions impose the same penalties on carbon-intensive imports, they will create a powerful incentive to stay the course on decarbonization. On international finance, the two regions can work toward a system that is more resilient to irresponsible behavior on the part of any single country. The goal is not to displace the US dollar as the dominant global currency, but to offer more instruments for risk management and diversification. For example, a new stablecoin could be pegged to the euro or one of the major Asian currencies. Central banks could form a network of currency-swap agreements that are independent of the US dollar. And countries could work toward a more robust multilateral debt-relief framework for low-income countries, building on cooperation among the European Investment Bank, the Asian Development Bank, the Asian Infrastructure Investment Bank, the African Development Bank, and the Paris Club of sovereign creditors. None of these solutions will be easy to achieve, of course, given the tensions between countries within each regional bloc regarding a variety of issues. Cooperation would require compartmentalization, with governments focusing squarely on providing global public goods. As challenging as this might seem, the alternative will be far costlier to Asia and Europe — and to the rest of the world. Shang-Jin Wei, a former chief economist at the Asian Development Bank, is a professor of finance and economics at Columbia Business School and Columbia University's School of International and Public Affairs. The views expressed here are the writer's own. — Ed.
