Polar DC has secured new funding to fuel its data center build-out in Europe.

The data center company last week announced it has secured more than €1 billion ($1.1bn) in aggregate funding commitments during 2026, including further investment from its existing shareholders, such as H.I.G. Capital and LIAN Group, and a new financing commitment from Palistar Capital to provide additional capital to advance its development pipeline in Finland and Germany.

Palistar has committed an initial €75 million ($83.1m) development financing facility, with flexibility to upsize the facility to include additional lender commitments.

The facility will support early-stage development, including land acquisition, grid connections, and design and permitting works.

Andy Hayes, CEO of Polar Data Centers, said: “Securing over €1 billion in funding is a significant milestone for Polar and demonstrates the confidence investors have in our business, our strategy, and our ability to deliver. Our successful bond issuance provides the financial foundation for our Norwegian developments, while the additional backing from H.I.G. Capital, LIAN Group, and Palistar supports our next phase of growth in Finland and Germany.”

Launched just last year, Polar DC describes itself as a developer of “high-performance data centers optimized for AI and high-density computing workloads.” H.I.G. Capital acquired a majority stake in the company in October last year.

Carras Holmstead, investment partner at Palistar Capital, added: “The additional funding reinforces Polar’s strategy to develop high-performance, AI-ready data centers in locations offering access to reliable power, strong connectivity and favorable operating conditions.”

Polar secured an €800 million Nordic bond issuance in June 2026 to fund the delivery of its contracted Norwegian developments, including DRA02 and HER01.

Palistar Capital is an alternative asset manager focused on private equity and structured investments in mission-critical digital infrastructure assets, with approximately $3.1 billion of assets under management.

Streif Capital Partners is the debt advisor to the company.