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Mubadala to sell minority stake in CoolIT Systems to Ecolab

CoolIT, founded about 25 years ago, designs and manufactures liquid cooling systems used in data centres to support higher-density computing

Neesha Salian
Neesha Salian

26 March, 2026

Mubadala to sell minority stake in CoolIT Systems to Ecolab
Image: Getty Images/ For illustrative purposes

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Mubadala is selling its CoolIT Systems stake to Ecolab in a $4.75bn transaction led by KKR. Mubadala's 2023 investment supported CoolIT's growth as a key player in data centre liquid cooling, crucial for energy efficiency and reduced water usage. CoolIT anticipates significant revenue and EBITDA growth amidst rising demand for AI infrastructure. The deal is expected to finalise in Q3...

Mubadala Investment Company said on Thursday it had signed a definitive agreement to sell its minority stake in CoolIT Systems to Ecolab, as part of a transaction valued at $4.75bn and led by private-equity firm KKR.

Mubadala invested in CoolIT in 2023 alongside KKR, which backed the company through its Global Impact Fund II. CoolIT, founded about 25 years ago, designs and manufactures liquid cooling systems used in data centres to support higher-density computing as demand rises for AI infrastructure.

Liquid cooling systems use roughly 30 to 40 percent less energy for cooling compared with traditional air-cooled data centres, and operate as closed-loop systems that reduce water use.

Key player in the data centre space

CoolIT technologies are deployed in more than 300 data centres globally, including by major hyperscale operators.

“When Mubadala invested in CoolIT three years ago, we had a strong conviction that liquid cooling would become a critical enabler of more sustainable digital infrastructure,” said Abdulla Mohamed Shadid, head of energy and sustainability for private equity at Mubadala.

CoolIT has expanded rapidly since 2023, increasing its manufacturing footprint to more than 300,000 square feet, boosting coolant distribution unit capacity by 25 times, and doubling its workforce by adding more than 300 jobs.

The company expects around four-fold revenue growth and a ten-fold increase in EBITDA through 2026.

Partnership with Mubadala to help turn CoolIT into a “world-class provider”

CoolIT CEO Jason Waxman said the acquisition by Ecolab would benefit customers, employees and shareholders. He added that the company’s partnership with Mubadala helped shape CoolIT into a “world-class provider” of liquid cooling solutions.

Rising global demand for computing power is expected to push data-centre electricity use to 945 terawatt hours by 2030, more than double the 415 TWh recorded in 2024.

Water use is also forecast to reach 450 million gallons per day by the end of the decade, up from 292 million gallons in 2022.

CoolIT said its systems delivered about 2.18 billion kWh of energy savings in 2025, enough to power an estimated 200,000 homes for a year.

The transaction is subject to regulatory approvals and is expected to close in Q3 2026.

DP World boosts Red Sea capacity with new crane deployment

Built by ZPMC and currently undergoing commissioning, the additions increase the number of ship-to-shore cranes at the terminal from 14 to 17

Rajiv Pillai
Rajiv Pillai

26 March, 2026

DP World boosts Red Sea capacity with new crane deployment
Image: Dubai Media Office

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DP World has added three semi-automated quay cranes to its Jeddah terminal, boosting capacity for ultra-large vessels amid increased Red Sea shipping. The expansion improves berth productivity and supports Saudi Arabia's logistics hub ambitions. This forms part of an $800m modernisation programme, doubling the terminal's capacity and enhancing operational efficiency and trade flow.

DP World has added three new semi-automated quay cranes at its terminal in Jeddah Islamic Port, expanding capacity and strengthening its ability to handle ultra-large container vessels as shipping activity returns to the Red Sea.

The latest expansion comes as shipping activity returns to the Red Sea, strengthening the terminal’s ability to maintain reliable trade flows amid ongoing maritime security challenges.

The new cranes, each with a lifting capacity of 65 tonnes, are expected to improve berth productivity and enable the terminal to handle multiple mainline vessels simultaneously. The move supports Saudi Arabia’s ambition to position itself as a global logistics hub.

Built by ZPMC and currently undergoing commissioning, the additions increase the number of ship-to-shore cranes at the terminal from 14 to 17, with plans to expand the fleet to 22 as part of future upgrades.

DP World’s South Container Terminal spans 2,150 metres of quay length, including a deep-water berth with an 18-metre draft, allowing it to accommodate up to five ultra-large container vessels at the same time. The facility is equipped with advanced automation and modern handling systems aimed at improving turnaround times and operational efficiency.

The expansion forms part of an $800m modernisation programme that has doubled the terminal’s capacity from 1.8 million to 4 million twenty-foot equivalent units (TEUs), with a long-term target of 5 million TEUs as additional equipment is deployed in line with demand.

Mohammad Alshaikh, CEO, DP World KSA, said: “By expanding capacity and enhancing operational agility, we are helping our customers move goods more efficiently and strengthening the terminal’s ability to accommodate larger vessels and growing container volumes. While recent regional developments have brought new challenges, we are working closely with port authorities, security partners and shipping customers to ensure safe, reliable operations to keep trade moving across the Red Sea and beyond.”

In 2025, DP World Jeddah handled more than 1.3 million TEUs, more than doubling volumes year-on-year as shipping lines returned to the Red Sea corridor and weekly services increased to 38 calls.

The company has also expanded its freight forwarding operations, improving inland connectivity and enhancing access to integrated supply chain solutions across Saudi Arabia.

The investment underscores DP World’s continued focus on infrastructure, technology and operational capability to support trade growth in the Kingdom and the wider Red Sea region, aligned with Saudi Vision 2030.

Reda Raad: Why brand silence in a crisis is a costly mistake

When missiles flew over Dubai, most brands went silent. That silence is a strategic error — and the data proves it, writes the group CEO of TBWA\RAAD

Reda Raad
Reda Raad

26 March, 2026

Reda Raad: Why brand silence in a crisis is a costly mistake
Reda Raad, group CEO, TBWA\RAAD/Image: Supplied

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During regional crises, brands often pause activity, assuming strategic neutrality. However, research suggests silence damages trust and purchase intent. Consumers favour businesses showing authentic solidarity, even with small gestures. Trust, built over time through consistent values and actions, is revealed in crises. Companies must communicate promptly, know their values, and recognise regional resilience as a competitive advantage, not just a...

On the morning of Saturday, February 28, I sent my first message to teams across Dubai, Riyadh, and Beirut. Not a strategy deck. Not a business continuity framework. Three words: stay home, stay safe.

By afternoon, missiles had been intercepted over the city. I wrote again. And the next morning. And the morning after that.

What happened next surprised me — not the crisis itself, but the corporate response to it. Across the region, brands went dark. Campaigns paused. Budgets froze. Briefs that had been live for weeks stopped mid-sentence. The instinct, almost universally, was to wait.

That instinct is understandable. It is also, as the evidence shows, a strategic mistake with measurable costs.

The Business Case Against Silence

There is a tempting logic to brand silence during geopolitical crises: say nothing, offend no one, weather the storm. Researchers call this “strategic neutrality” — the hope that staying quiet preserves optionality and avoids alienating customers on either side of a conflict. In practice, it rarely works that way.

According to the 2025 Edelman Trust Barometer, staying silent on a societal issue causes most consumers to assume the worst — that a brand is complicit, or hiding something. That perception is not merely reputational. Among consumers over 61 — one of the highest-spending demographic cohorts globally — 60 per cent say they would be less likely to buy from a brand that fails to engage on issues that matter to them.

The research on crisis response consistently reinforces this. Brands that issue prompt and transparent responses during a crisis see statistically significant increases in consumer trust, while silence and denial are linked to decreased trust and prolonged reputational damage — effects that outlast the crisis itself. Meanwhile, corporate decisions to visibly take a stand during geopolitical crises are positively correlated with improved brand consideration and purchase intent, with the effect amplified for companies with strong prior reputations.

None of this means brands should rush to issue statements for their own sake. Even small gestures of solidarity — messages that acknowledge what consumers are living through — can meaningfully improve brand attitudes during geopolitical conflict, provided they are authentic and grounded in the brand’s existing identity. The distinction between authentic engagement and opportunistic positioning is one consumers recognize immediately. Only 27 per cent say their trust in a brand increases when it focuses solely on products and ignores the culture around it. The other 73 per cent are watching something else: how you show up when it costs you something.

With 87 per cent of shoppers willing to pay more for brands they trust, the economics of presence during a crisis are not ambiguous. Going dark is not a neutral position. It is a choice — and it is being priced accordingly.

Trust Is Not Built in Crisis. It Is Revealed by It

On March 7, HH Sheikh Mohamed bin Zayed Al Nahyan addressed the nation. He called citizens and residents family before he spoke of systems and defenses. Within days, his words were on car stickers, phone cases, shared in songs across the region. Not as propaganda — as genuine expression.

That is not PR. That is what happens when leadership and people are genuinely aligned over years, not manufactured in a moment.

The same dynamic plays out in markets. In 2024, 71 per cent of global consumers said they trusted companies less than they did a year before — an erosion driven not by any single scandal but by accumulated misalignment between what brands said and what they did. Research shows a significant gap: nearly 90 per cent of business executives believe customers trust their companies highly, while fewer than 30 per cent of consumers actually do. A crisis does not create that gap. It simply makes it impossible to ignore.

Dubai’s own resilience tells this story in economic terms. Even through geopolitical turbulence, the emirate recorded a 33 per cent increase in total FDI capital in 2024, while welcoming 18.7 million international visitors — up 9 per cent from the year before. That performance did not happen because investors suddenly decided Dubai was safe in February. It happened because the confidence had been constructed, methodically, over decades. When the moment of stress arrived, the foundation held.

Brand equity works the same way. The companies that came through the crisis with their reputations intact — or strengthened — were not the ones that responded most quickly. They were the ones that had already done the work: clear values, strong culture, internal alignment between what they said publicly and how they actually operated. Crisis revealed that preparation. It did not replace it.

Three Recalibrations for the Boardroom

Communicate before you’re certain. The instinct to wait for perfect information before speaking is understandable — and in a crisis, almost always wrong. Consumers in an uncertain environment are not looking for definitive answers from brands. They are looking for acknowledgment that the brand sees what they are living through. Waiting to speak until you have something comprehensive to say often means not speaking at all during the period when it matters most.

Know what you stand for before you need it. The trust gap between what executives believe about their companies and what consumers actually feel runs to nearly 60 percentage points. That gap is not closed by crisis communication. It is the result of chronic misalignment — between brand claims and operational reality, between public values and internal culture. The companies that showed up well during this crisis had built something worth showing up with.

The region’s resilience is a genuine business asset, not a talking point. The UAE’s non-oil sectors now contribute more than 75 per cent of national GDP — the result not of a single policy but of deliberate, sustained diversification over decades. This is a market that has structurally reduced its own fragility. Over 200 nationalities, different faiths, one shared decision to keep building — that social compact is real, and it matters to how business gets done here.

The Region Is the Argument

The brands that went silent in February are already back. Campaigns have resumed. Briefs are live again. The pause is being quietly forgotten — at least inside the organizations that called it.

It has not been forgotten by the people who noticed.

But there is a larger point that the silence obscured. This region — 200-plus nationalities, non-oil sectors now comprising more than three-quarters of UAE GDP, FDI up 33 per cent through geopolitical turbulence — is not a market that rewards caution. It was built by people who made a different calculation: that showing up, consistently and with conviction, was itself the competitive advantage.

That calculation has not changed. The brands that understand it — that treat this region’s resilience not as a backdrop but as the actual business case for being here — are the ones positioned to grow with it.

The morning after always comes. The question is whether you were building during the night, or waiting for daylight before you decided to commit.

The writer is Reda Raad, group CEO of TBWA\RAAD

Sultan Al Jaber meets JD Vance, urges restoring free passage through Hormuz

UAE minister and ADNOC chief tells US vice president that restoring flows through the Strait of Hormuz is critical as tensions disrupt global energy supply

Gulf Business
Gulf Business

26 March, 2026

Sultan Al Jaber meets JD Vance, urges restoring free passage through Hormuz

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Dr Al Jaber stressed to US Vice President Vance that restoring free passage through the Strait of Hormuz is crucial for global energy security. Disruptions are impacting oil and gas shipments, causing significant economic consequences. Al Jaber highlighted the importance of the strait for global supply and emphasised that only opening it can stabilise markets. He also noted the strong...

Restoring free passage through the Strait of Hormuz is essential to stabilising global energy markets.

This was the message that Dr Sultan Al Jaber, the UAE minister of industry and advanced technology and ADNOC managing director and group CEO, gave to US Vice President JD Vance in a meeting between the two men this week.

“It was good to re-connect with Vice President Vance at this critical moment,” Al Jaber said, in a statement carried by the Emirates News Agency (WAM) overnight.

“We discussed the fact that energy security equals global security, and that restoring free passage through the Strait of Hormuz is the only durable solution to stabilising global markets.”

He added that the discussions also highlighted the strength of UAE–US ties across “security, trade, investment, technology, energy, healthcare, and education.”

The meeting comes as the ongoing conflict involving the US, Israel and Iran has impacted shipments of around one-fifth of the world’s oil and liquefied natural gas through the strait, a critical artery for global energy flows.

Al Jaber’s latest remarks build on comments made earlier this week at CERAWeek in Houston, where he warned that disruptions to the strait are already driving sharp economic consequences.

“When Hormuz is squeezed, the pressure is immediately felt around the world,” he said. “In just three weeks, the price of oil has risen by 50 per cent.”

Read more: Dr Sultan Al Jaber: No country should hold Hormuz, global economy hostage

He stressed that the situation represents a broader security crisis rather than a conventional supply issue, adding: “We cannot trade our way out of this crisis. Only way to stabilise markets is to open the strait.”

The Strait of Hormuz handles around 20 million barrels of oil per day, nearly a fifth of global supply, alongside significant volumes of gas, fertilisers and industrial commodities.

Not always receiving a UAE alert? NCEMA explains why

Early warning messages are sent based on real-time location and risk — not everyone will receive every alert.

Gareth van Zyl
Gareth van Zyl

25 March, 2026

Not always receiving a UAE alert? NCEMA explains why

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The UAE's NCEMA clarifies that its Early Warning System (EWS) uses geographic targeting, issuing alerts only to residents in directly affected areas. This means some individuals may receive notifications about emergencies, like severe weather or missile alerts, while others nearby won't. This precise system aims to minimise disruption and ensure relevant information reaches those most at risk, based on real-time...

UAE authorities have explained why some residents receive emergency alerts while others do not, stressing that the system is designed to be precise, not universal.

According to the National Emergency Crisis and Disaster Management Authority (NCEMA), the country’s Early Warning System (EWS) operates using geographic targeting. Alerts are issued only to areas directly affected by a specific incident, based on its location, nature and potential impact.

That means residents in one area may receive a notification, such as a missile alert or severe weather warning, while others nearby may not.

Authorities say this is intentional.

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“The Early Warning System is a vital preventive tool designed to promptly alert the public and strengthen national preparedness in times of emergency,” NCEMA said in a statement. “For your safety, always rely on official instructions and adhere to the guidance issued by relevant authorities.”

The system uses real-time data to define risk zones, ensuring alerts reach those most likely to be affected, while avoiding unnecessary disruption elsewhere.

This also explains why two people in the same city, or even close to each other, may have different experiences. Alert delivery can vary depending on a device’s exact location at the time of issuance, as well as individual phone settings.

Authorities added that hearing sounds linked to interception activity does not necessarily mean an alert will be received, as notifications are tied to defined impact zones rather than general proximity.

Not receiving an alert does not indicate a fault in the system. Instead, it reflects how the platform is designed to work: delivering accurate, location-specific warnings to those who need them most.

Gold climbs more than 2% on softer dollar, easing fears of higher interest rates

Oil prices fell below $100 a barrel, easing inflation concerns, on the prospect of a possible ceasefire easing supply disruptions from the key Middle East producing region

Reuters
Reuters

25 March, 2026

Gold climbs more than 2% on softer dollar, easing fears of higher interest rates

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Gold prices surged as the dollar weakened and oil price drops eased inflation worries. Hopes for a Middle East ceasefire boosted sentiment. Analysts suggest gold's safe-haven status remains intact, though it's sensitive to US Federal Reserve policy and geopolitical events. Despite earlier dips, the longer-term outlook for gold remains positive, according to JP Morgan.

Gold rose more than 2 per cent on Wednesday, buoyed by a softer dollar, while a drop in oil prices eased concerns about elevated inflation and higher global interest rates, amid reports of a US plan to end the Middle East war.

Spot gold rose 2.5 per cent to $4,587.09 per ounce as of 0218 GMT. US gold futures for April delivery gained 4.2 per cent to $4,586.10.

The dollar eased, making greenback-priced bullion cheaper for holders of other currencies.

Read more-Gold dives to 4-month low as inflation pressures lift rate hike bets

With hopes of de-escalation in the Middle East conflict, and “as USD strength eased, safe-haven demand starts to reassert. This reinforces the view that gold didn’t lose its safe-haven appeal. It was briefly crowded out by the USD, and now that pressure is easing,” said Christopher Wong, a strategist at OCBC.

“Near-term, gold is likely to stay sensitive to Federal Reserve policy path expectations, USD and geopolitical developments, but the rebound suggests dips may continue to find support unless real yields move meaningfully higher.”

Oil prices fell below $100 a barrel, easing inflation concerns, on the prospect of a possible ceasefire easing supply disruptions from the key Middle East producing region.

US President Donald Trump said on Tuesday the US was making progress in its efforts to negotiate an end to war with Iran, including winning an important concession from Tehran, while a source confirmed that Washington had sent Iran a 15-point settlement proposal.

Higher crude prices tend to fuel inflation by pushing up transport and manufacturing costs. Although rising inflation typically boosts gold’s appeal as a hedge, high interest rates weigh on demand for the non-yielding asset.

Interest rate futures have erased any prospect for a US Federal Reserve rate cut this year, according to CME Group’s FedWatch tool.

“Despite gold prices trading at 17 per cent below pre-conflict levels amid USD strength and broad-based de-risking, this flush has historically been a tactical dip to buy, and the bullish case strengthens the longer the conflict persists,” JP Morgan said in a note.

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