PATRIZIA and Mitsui & Co. have made a strategic investment, committing up to $350 million toward the expansion of Kaer’s Cooling as a Service (CaaS) business in Asia. The investment was made via the APAC Sustainable Infrastructure Fund (A-SIF).
Kaer, the fastest growing CaaS provider in Asia, enables businesses to transition to low-carbon cooling to serve their operations while reducing capital expenditure. A-SIF’s investment will support Kaer’s expansion of its presence in Singapore, Malaysia, India and Indonesia, as well as seed growth in new regional markets, including Thailand and Vietnam.
By 2028, Kaer aims to deliver low-carbon cooling to up to 100 million square feet of commercial real estate, helping to eliminate approximately 120 million kilograms of carbon emissions from cities in Asia.
“This fourth investment for A-SIF marks a strategic expansion into cooling as a service infrastructure,” said Saji Anantakrishnan, head of infrastructure
