ST2, the start-up sustainable technology company, has exchanged land in the former ICI site in Redcar as part of its £100m development of a new data centre. The move will lead to the creation of around 400 jobs for the area and is a significant inward investment for the Tees Valley, pending a successful planning application.
Anne Stokes, CEO of ST2, said:
“This is an important step forward in our ambition to develop an environmentally sustainable data centre and technology services business in the North East. Not only will this be an important source of quality jobs for the area, but demonstrates that the tech sector isn’t just a phenomenon for the South of England.”
Data centres have become an essential part of the economy. All data that is produced when using the internet has to be stored and as technology has become ubiquitous, largescale data centres are now the standard way to store the massive amounts of data that we all create.
Lucy Horner Managing Director of GDL, commented:
“The technology sector is a major source of economic growth for the UK for the 21st century and Redcar and the North East is perfectly positioned for inward investment. The region has a strong workforce, available land for regeneration, and supportive local infrastructure that is attractive for innovative businesses. GDL a North Yorkshire boutique corporate finance and advisory company is working with a London based special opportunities fund in the capital raise and financing of the project .We welcome the project and the significant planned investment and see this as a big vote of confidence in the local community”
The new data centre will be situated on the former ICI site near Wilton and powered by Sembcorp, ensuring a carbon neutral footprint. A planning application has been submitted to Redcar and Cleveland Borough Council, which is expected to be reviewed over the next six months.
“Our planned development here in Redcar is part of a 20-year investment that will create long-term skilled employment. Data centres have become an essential part of the country’s critical economic infrastructure so we will also be supporting a wide range of businesses and encouraging them to either set up shop or grow their existing activities in the North East. I am committed to the North East and excited for the future.”