Cooling firm Asperitas has secured new investment funding.

The Dutch firm this week announced the successful closing of its scale up investment round for an undisclosed amount.

The round was led by Thailand’s Stecon Group and Invest-NL, with support from existing shareholders Shell Ventures (the corporate venturing arm of oil giant Shell) and PDENH.

The company said the funding will accelerate Asperitas’ global scale-up and strengthen the continued development of its portfolio of passive natural convection and active direct forced convection immersion cooling solutions.

“This investment round marks an important milestone for Asperitas. We’re proud to welcome new strategic partners and to continue building on the trust of our existing shareholders,” said Asperitas CEO, Rutger de Haij. “With this support, we can accelerate our mission to help data centers maximise the effective use of energy for compute, reduce their environmental impact, and grow sustainably in a market that’s evolving faster than ever.”

Asperitas develops immersion cooling pods and has partnered with Stulz to offer an immersion-based data center module.

Invest-NL is the National Promotional Institution of the Netherlands, financing and accelerating transitions in the fields of agrifood, bio-based & circular economy, tech, energy, and life sciences & health.

Stecon is a Thai construction firm founded in 1962. The company has previously delivered a number of large-scale infrastructure projects, including transit projects, highways, petrochemical and power plants, renewables, and refinery and wastewater management plants, and said it is now expanding into high-tech and smart infrastructure ventures.

Sampan Chanaburanasak, managing director STECX Ventures (the venture arm of Stecon Group, said: “As one of our strategic pillars is to ‘Shape Tech Leadership’ in Thailand and the ASEAN region’s infrastructure investment, we constantly seek out cutting-edge technologies to complement our move toward the forefront of investment projects. Immersion cooling is one of the most effective and scalable technologies to address energy efficiency and sustainability challenges in the digital infrastructure space. Asperitas stands out as one of the leaders with its efficient technology, experienced leadership, credible partnerships, and strong positioning in a market driven by the growing global demand for high-performance chips.”

Founded in 2014, the Participatiefonds Duurzame Economie Noord-Holland (PDENH) is an €85 million ($100m) fund established by the Province of Noord-Holland that invests in innovative companies and projects contributing to the region’s sustainable economy. PDENH is a closed-end fund, managed by ROM In West.

TEOS Advisory Limited acted as the financial advisor to Asperitas on the transaction.