Latest news with #Metlen
Yahoo
7 days ago
- Business
- Yahoo
Greece prepares to launch its largest data centre yet amid boom in demand from AI
Greece is preparing to open its largest data centre yet, amid a boom in global demand driven largely by artificial intelligence (AI). On Tuesday, the energy and industrial company Metlen said it had delivered the new facility to Digital Reality, which owns more than 300 data centres worldwide. Called Athens-3 (ATH3), the new centre was built at an old industrial site in the town of Koropi, not far from Athens International Airport. The 8,600 square metre facility offers cloud services and data storage and management, and will serve Greece, southeastern Europe, and beyond. The rise of AI has spurred a race to build data centres that can provide the enormous computer power needed to train and use these models. In Europe, demand is projected to rise threefold by 2030, according to an analysis from McKinsey. Related Data centres could strain Europe's power supply by 2030, report warns In Greece, the launch of ATH3 represents the government's latest foray into these advanced technologies. "I have not hidden my ambition," Prime Minister Kyriakos Mitsotakis said at the inauguration of the ATH3 foundation in 2022. "In five years, the technology sector will contribute 10 per cent to our country's GDP". The ATH3 data centre adds to Digital Reality's existing facilities in Greece, including Athens-1 (ATH1), Athens-2 (ATH2), and Heraklion-1 (HER1). But the company is not Greece's only player in this space. Late last year, the French firm DATA4 held a ceremony for its new campus in Peania, which is also east of Athens. The ceremony, which was organised with the support of the Franco-Hellenic Chamber of Commerce and Industry, took place two months after DATA4 announced an investment of more than €300 million. Related Pilot project to launch €185m sustainable data centre in Uzbekistan DATA4 CEO Olivier Micheli said that investment is part of the company's plan to invest €7 billion in Europe by 2030, which would make it the bloc's leading data centre provider. Beyond France and Greece, it also operates in Italy, Spain, Poland, and Germany. The Peania data centre campus will be built on 75 acres of land. It is expected to be up and running by early 2027. The group estimates that by 2030 it will have created more than 7,000 permanent jobs on its campuses in Europe and more than 500 permanent jobs on its Greek campus.
Euronews
7 days ago
- Business
- Euronews
Greece prepares to launch its largest data centre yet
Greece is preparing to open its largest data centre yet, amid a boom in global demand driven largely by artificial intelligence (AI). On Tuesday, the energy and industrial company Metlen said it had delivered the new facility to Digital Reality, which owns more than 300 data centres worldwide. Called Athens-3 (ATH3), the new centre was built at an old industrial site in the town of Koropi, not far from Athens International Airport. The 8,600 square metre facility offers cloud services and data storage and management, and will serve Greece, southeastern Europe, and beyond. The rise of AI has spurred a race to build data centres that can provide the enormous computer power needed to train and use these models. In Europe, demand is projected to rise threefold by 2030, according to an analysis from McKinsey. In Greece, the launch of ATH3 represents the government's latest foray into these advanced technologies. "I have not hidden my ambition," Prime Minister Kyriakos Mitsotakis said at the inauguration of the ATH3 foundation in 2022. "In five years, the technology sector will contribute 10 per cent to our country's GDP". The ATH3 data centre adds to Digital Reality's existing facilities in Greece, including Athens-1 (ATH1), Athens-2 (ATH2), and Heraklion-1 (HER1). But the company is not Greece's only player in this space. Late last year, the French firm DATA4 held a ceremony for its new campus in Peania, which is also east of Athens. The ceremony, which was organised with the support of the Franco-Hellenic Chamber of Commerce and Industry, took place two months after DATA4 announced an investment of more than €300 million. DATA4 CEO Olivier Micheli said that investment is part of the company's plan to invest €7 billion in Europe by 2030, which would make it the bloc's leading data centre provider. Beyond France and Greece, it also operates in Italy, Spain, Poland, and Germany. The Peania data centre campus will be built on 75 acres of land. It is expected to be up and running by early 2027. The group estimates that by 2030 it will have created more than 7,000 permanent jobs on its campuses in Europe and more than 500 permanent jobs on its Greek campus.
Bloomberg
04-08-2025
- Business
- Bloomberg
Metlen's Shares Gain in London Debut After Shift From Athens
Metlen Energy and Metals Plc 's shares rose in its debut on the London Stock Exchange on Monday after moving its primary listing from Athens, although trading in the stock was relatively thin. The firm's shares closed at €48.68 ($56.269) in London on Monday, 3.2% higher than the Athens-listed stock's closing price of €47.16 on Friday. Metlen, with a market capitalization of more than €6 billion, did not raise any new funds with the listing.
Bloomberg
04-08-2025
- Business
- Bloomberg
Metlen's Shares Rise in London Debut After Shift From Athens
Metlen Energy and Metals Plc rose in its debut on the London Stock Exchange on Monday after moving its primary listing from Athens in search of new investors. The firm's shares opened at €48 each, 1.8% higher than the Athens-listed stock's closing price of €47.16 on Friday. Metlen's business includes renewable energy, natural gas trading and aluminum production.
Telegraph
03-08-2025
- Business
- Telegraph
Sky-high energy prices destroying European industry, warns metal giant
Soaring energy prices will destroy what little heavy industry Britain and the EU have left, the boss of a metals giant has warned ahead of its London listing on Monday. Evangelos Mytilineos, the chief executive of Metlen, a Greek energy and metals company, has marked his company's new FTSE 100 listing with a dire warning about the disastrous impact of high energy costs. 'The UK and Europe have entered a period of high energy prices compared with our competitors,' he said. 'Countries like China, the US and others have maybe half or a third of the cost of power than we have, and this is the biggest problem for UK and European productivity going forward. 'A lot of [UK and European] companies are moving their plants to other parts of the world.' Mr Mytilineos cited German chemical giant BASF's 2024 decision to shut down 11 chemical plants in Germany and spend €10bn (£8.7bn) on a new mega-plant in southern China – partly linked to energy costs and green regulations. The Greek executive, who is also president of the European Metals Association, said the UK and Europe were fighting to retain the factories they had. 'A decade ago Europe had maybe 15 aluminium plants but now there are just four left so we are buying it from countries like China and Indonesia which make it by burning coal,' he said. That decline is partly down to the cost of renewables, the rollout of which is typically funded by subsidies that add levies to energy bills. Surging gas price followed Russia's invasion of Ukraine have also fuelled the problem. 'As long as Russian gas was around, we could be globally competitive,' Mr Mytilineos said. 'Now this is gone. This is geopolitics, and Europe is paying the price.' Addressing Ed Miliband and Sir Keir Starmer's race to decarbonise Britain's economy, Mr Mytilineos warned that green energy policies can come with a heavy price. 'If they want to take these decisions, they must also consider industry. You have to support your industries. Otherwise industries have to find new ways to survive. They have to move.' Metlen's core business is metal refining. It produces bauxite ore from its own mines in Greece where it also has a refinery and smelter. They annually produce 190,000 tonnes of aluminium and 860,000 tonnes of alumina, a vital ingredient in advanced ceramics. From the same ore it is now also extracting gallium, a strategically vital metal where China has long dominated global markets. Metlen is also increasingly involved in metal recycling, melting down scrap and targeting valuable metals like zinc and lead. The company has managed to avoid energy-induced shutdowns because its other key business is energy production: it owns around 14 wind farms, three solar farms and four hydroelectric plants, mostly in Greece, plus several gas fired power stations. It uses those generators to power its metal refining, giving it a near-unique level of immunity from the high energy prices that are wiping out energy-intensive industries across the UK and Europe. The comments come as Mr Mytilineos prepares to ring the London Stock Exchange opening bell at 8am on Monday as Metlen joins the market. The company, valued at close to £6bn, is set for inclusion in the FTSE 100 later this year when the index is re-evaluated. Metlen's move is a vote of confidence in London's beleaguered stock market, which has suffered from a dearth of new listings in the years following Brexit. Mr Mytilineos said: 'My shareholders ask me this – why London? We consider that despite London going through difficult times after Brexit, Amsterdam, Frankfurt or Paris have not managed to overtake the City as a financial hub. 'I think that having gone through this difficult period, the City will make a big comeback, and London Stock Exchange with it. So when choosing a European exchange with the biggest profile for our company, London was the obvious place.'
