Stoneweg Icona data centre fund rebranded to AiOnX; adds fifth asset in UK
The Cambridgeshire site will be located at Sutton-in-the-Isle, between Cambridge and Peterborough, and be scaled up to a final capacity of 330 megawatts.
It will also target the UK's cluster of global technology operators located in the 'Golden Triangle' – between Cambridge, Oxford and London – to serve artificial intelligence and cloud demand in the area, and become one of the biggest data centres in the UK.
The Stoneweg Icona data centre fund – rebranded as AiOnX – will now encompass five high-specification hyperscale data centre sites across strategic European locations including Spain, Italy, and now the UK.
The development plan of the five assets aims at creating 2 gigawatt total capacity for an investment of more than 20 billion euros (S$30 billion), for AiOnX to become one of Europe's largest data centre owners.
This is one of the first moves by SWI Group – comprising Stoneweg, Icona Capital, its subsidiaries and associates – since it became Sert's sponsor in end-2024.
On Jun 24, Stoneweg European Business Trust said that it invested 50 million euros in AiOnX, where its stake in the fund is expected to range from 4 to 8 per cent, depending on the final quantum of investment made by the other investors.
This investment in early-stage data centre sites complements the stapled trust's existing data centre holdings in Denmark and Poland, so as to diversify into high-growth infrastructure assets alongside its logistics and light industrial portfolio.
As at 1.58 pm, stapled securities in Sert were trading flat at 1.52 euros on Wednesday.
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