Swedish IT services firm Binero Group has acquired a data center from energy firm E.On.

Binero this week announced it has acquired a facility in Vallentuna outside Stockholm. Terms of the deal were not shared.

The pair jointly built the STO1 facility in 2018 and launched it in 2019, with Binero leasing the facility from E.On. The acquisition includes the building and the 4,700 square meter (50,590 sq ft) plot. The facility, located on the corner of Bällstabergsvägen and Karlbergsvägen, can reportedly offer up to 44kW per rack.

Binero also takes over E.On’s existing waste heat agreement, which the firm said offers a stable source of revenue with the possibility of future growth.

“This acquisition is a natural step in our growth strategy, and we look forward to the opportunity to further develop and expand the data center to meet future needs, especially in AI,” said Annika Rydström, CEO of Binero Group.

“Within E.On, we are streamlining our operations with a continued focus on smart distribution systems and innovative energy solutions where E.On can contribute to market development and long-term added value,” added Kristofher Stéen, head of decentral energy solutions, EIS Nordics, E.On. “Handing over properties like the data center in Vallentuna was therefore a natural step, and we are pleased that Binero Group, a partner for many years, is taking over. We look forward to following Binero’s continued journey.”

Nasdaq First North Growth Market-listed Binero is a B2B cloud service and digital infrastructure provider. The company offers public and private cloud services as well as various managed and connectivity solutions.