ImpactAlpha – Cloverleaf rakes in $300 million from Sandbrook and NGP for clean- powered digital infrastructure
By Roodgally Senatus
July 18, 2024

Surging demand for electricity for cloud computing and artificial intelligence poses major climate risks if the power comes from fossil fuels, rather than renewable energy.

David Berry launched Cloverleaf Infrastructure earlier this year to develop low-carbon electricity- powered digital infrastructure. The Houston- and Seattle-based firm will use the private equity funding from energy investors Sandbrook Capital and NGP to develop large clean-powered data center sites in the US.

Cloverleaf plans to work with utilities and data center operators and invest in grid interconnection, onsite power generation and electricity storage.

Clean tech
Sandbrook made the investment in Cloverleaf through its $1.5 billion climate infrastructure fund, which closed in December. Cloverleaf’s management team contributed to the investment round.

“We believe the opportunity set for clean-powered digital infrastructure development is as compelling as anything we’ve seen before,” said NGP’s Sam Stoutner.

Companies working on clean-powered data centers include Albany, NY-based Soluna Holdings and the UK’s Deep Green.