With a loan of 200 million euros, or over 200 million U.S. dollars, dedicated to its European investments, EIB supports the development of OVHcloud, the European cloud leader
- This is the first operation of the European public bank with a pure player in the booming cloud market.
- It demonstrates the EIB's commitment to actively support European digital players.
- It is in line with the EU's priorities of strengthening Europe's strategic autonomy in new technology infrastructures.
The European Investment Bank (EIB) has granted OVHcloud, the European leader in cloud computing, dedicated funding for its investments in Europe. This EUR 200 million credit facility demonstrates the EIB's determination to actively support European digital players. This commitment is in line with the EU's priorities for strategic autonomy in the field of new technologies.
Complementary financial resources for a key sector
This first financing for a pure cloud player, for a maximum amount provided by the European Investment Bank (EIB), is intended to support the OVHcloud’s Group's expansion in Europe, where it is positioning itself as the champion of an open, reversible, transparent and federated cloud ecosystem, all the while promoting the full and complete sovereignty of users over their data. In a booming market, OVHcloud intends to accelerate its international deployment with the opening of 15 new data centers by the end of 2024 in order to address new market and new geographies, and demonstrate its progress in terms of sustainable development. As such, 10 of these 15 new sites will open in Europe over the next 24 months.
This support actively contributes to the efforts undertaken by European public decision makers to strengthen Europe's strategic autonomy in its digital infrastructures, and particularly in the key activities of research and development and production, in a market that may exceed that of telecoms by 2027.
"Whether in software or hardware, innovation is at the heart of our company's DNA and guides each and every one of our actions in a sustainable, open and transparent approach," said Michel Paulin, CEO of OVHcloud. "This additional financial capacity provided by the EIB contributes to our Group's strategic roadmap and will enable us to promote a cloud that respects our European values faster, higher and stronger.”
The cloud is the essential building block for the digitalization of all aspects of our economic and social lives," said EIB Vice-President Ambroise Fayolle. "By contributing to the financing of the most innovative players in Europe, the EIB is fully in line with European policy priorities: increasing our competitiveness and fostering our technological sovereignty. This EUR 200 million loan to the European leader in the sector is a significant demonstration of Europe's commitment to placing our digital expertise at the service of our strategic autonomy."
Infrastructures, technologies, talents and R&D
Over the last 12 months, OVHcloud has expanded its portfolio of IaaS and PaaS solutions, confirming its undisputed leadership in the market for a reliable and sustainable cloud. As the acceleration of its growth trajectory goes hand in hand with the implementation of new offers capable of meeting the most demanding technological challenges, the Group plans to take its technical capabilities even further in the areas of artificial intelligence, databases, security mechanisms and high-intensity calculations.
The new resources available within the framework of this financing will increase OVHcloud's capacities in the following domains:
- Acceleration of its R&D trajectory and industrial model: development of high-density solutions, deployment of new generations of server racks, and modernization of production areas.
- Development of software projects: extension of the product portfolio, starting with the storage offer, security solutions and the integration of new technological building blocks.
- Sustaining the patent policy: OVHcloud holds 137 patents in many different fields and aims at accelerating this dynamic in order to consolidate its unique position as an innovative player.
Deploy the most sustainable cloud infrastructure on the market
As a leading pioneer serving a sustainable cloud, OVHcloud intends to leverage this additional funding to improve and innovate in cooling technologies, particularly adiabatic systems and new mechanisms in line with its industrial innovations.
Thanks to its fully integrated industrial model, the group intends to make the most of its 20+ years of expertise in the field of water-cooling systems to reduce its environmental impact.
Currently achieving the best ratios in the cloud industry in terms of energy efficiency (PUE between 1.1 and 1.3 compared to an industry average of 1.57) and water consumption (average WUE of 0.26 l/kWh compared to an industry average of 1.8), OVHcloud is ideally positioned to embrace strong commitments:
- 100% low-carbon energy by 2025 to limit the use of high-carbon energy by promoting renewable energy and other low-carbon energy sources
- Contribution to Global Net-Zero for scopes 1 and 2 by 2025, with scopes 1 and 2 representing almost 40% of OVHcloud's carbon footprint
- Contribution to Global Net-Zero for all scopes by 2030, with scope 3 being related mainly to component manufacturing
- 0% landfill by 2025 for waste related to OVHcloud's processes at the constant geographical scope.
OVHcloud is a global player and the leading European cloud provider operating over 450,000 servers within 33 data centers across four continents to reach 1.6 million customers in over 140 countries. Spearheading a trusted cloud and pioneering a sustainable cloud with the best price-performance ratio, the Group has been leveraging an integrated model for over 20 years that guarantees total control of its value chain, from the design of its servers to the construction and management of its data centers, including the orchestration of its fiber-optic network. This unique approach enables OVHcloud to independently cover all the uses of its customers so they can seize the benefits of an environmentally conscious model with a frugal use of resources and a carbon footprint reaching the best ratios in the industry. OVHcloud now offers customers the latest-generation solutions, combining performance, predictable pricing and complete data sovereignty to support their unfettered growth.
About the European investment bank
The EIB, whose shareholders are the 27 Member States of the European Union, is the EU's long-term financing institution. It finances high-quality investments that contribute to the achievement of the European Union's objectives, including innovation, to which it has earmarked more than three billion in 2021. Since 2019, the EIB has accelerated its transformation into a climate bank by committing to devote at least 50% of its financing to investments that contribute to the fight against climate change and the mitigation of its effects, starting in 2025. It has already largely achieved this objective in France, where it has devoted two thirds of its €9.2 billion in investments to projects in renewable energy, energy efficiency in buildings and the development of sustainable mobility.