PATRIZIA, Mitsui partner with Kaer to expand cooling as a service business

By 2028, Kaer aims to deliver low-carbon cooling to 100 million square feet of commercial space.

PATRIZIA and Mitsui have partnered with Kaer through the APAC Sustainable Infrastructure Fund (A-SIF) to expand the latter’s Cooling as a Service (CaaS) across Asia, with a commitment of up to $456.9m (USD350m) worth of investment.

Kaer enables businesses to transition to low-carbon cooling to serve their operations whilst reducing capital expenditure.

With 30% growth in 2024 and a further 50% growth projected from existing contracts in 2025, the partnership will allow Kaer to scale its operations whilst further developing technology and data analytics.

By 2028, Kaer aims to deliver low-carbon cooling to 100 million square feet of commercial real estate, eliminating approximately 120 million kilograms of carbon emissions in Asia.

“This fourth investment for A-SIF marks a strategic expansion into Cooling as a Service infrastructure,” Saji Anantakrishnan, Head of Infrastructure for Australia and Asia at PATRIZIA, said.

($1=USD0.76)

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