Xnrgy Climate Systems, a closely held company specializing in cooling technology and thermal management solutions for AI data centers, is exploring a potential sale. The company's owners are reportedly working with advisers to assess strategic options that could lead to a sale valuing Xnrgy at up to $10 billion.
The owners of Xnrgy include a joint venture between BlackRock Inc. and Temasek Holdings Pte. The company is based in Montreal and Mesa, Arizona. This move comes as the demand for advanced cooling solutions in data centers is surging due to the increasing power consumption of artificial intelligence infrastructure.
This trend is highlighted by other recent activities in the data center cooling market. For instance, Blackstone recently acquired Flow Control Holdings (FCH), a maker of components for data center cooling systems, noting the significant growth tailwinds for liquid cooling technology needed for high-performance AI infrastructure. Similarly, AirJoule Technologies acquired BitSink for $27 million to expand into the AI and high-performance computing infrastructure market, with projections indicating the data center liquid cooling market could grow from $3.7 billion in 2025 to $11.5 billion by 2030.
