The Wellcome Trust Signs Definitive Agreement to Invest in Green Data Center Developer, Verne Holdings, ehf

The Wellcome Trust to fund development of the first large-scale green data center campus in Iceland


Keflavik, Iceland - January 15, 2010 - Verne Holdings, ehf, parent company of Verne Global, announced today that it has signed a definitive agreement for an equity investment from the Wellcome Trust. The Wellcome Trusts investment will fully fund the completion of the first phase of Verne Globals wholesale data center campus in Iceland. With this investment, the Wellcome Trust, a medical research charitable foundation based in London with US$21 billion of assets and an Aaa/AAA credit rating, will become the largest shareholder in Verne Holdings, ehf.

"Large scale customers face a critical need to reduce substantially the power costs and carbon footprints of data centers," said Dominic Ward from the Wellcome Trusts Investments Division. "Verne Global is breaking new ground in using Iceland's natural green resources to mitigate both increasing emissions and rising energy costs."

The Wellcome Trust joins existing investors, General Catalyst and Novator. Verne Globals 44 acre data center campus is currently under construction on the former NATO Command Centre in Keflavik, Iceland. Verne Global is employing Iceland's diverse natural resources to offer data center customers free cooling and 100% renewable power from the region's abundant supply of geothermal and hydroelectric energy.

"What makes us unique is that we are able to offer our customers a cost effective, yet truly green solution to their data center needs by providing the benefits of Iceland's 100% free cooling, renewable energy resources and predictable forecasting of energy pricing," said Jeff Monroe, CEO of Verne Global. "Together, Verne Global and the Wellcome Trust are creating a powerful solution that enables data center users the opportunity to go green without paying a price premium."

About Verne Global:
Verne Global is developing the data center industry's first carbon neutral wholesale data center campus. Verne's mission is to develop data centers in optimized geographic areas that offer companies the best total cost of ownership and 100% renewable power without a price premium. Currently in the first stage of development, Verne Global is constructing a 44 acre campus on the former NATO Command Center in Keflavik, Iceland. With Icelands favorable natural attributes and renewable energy resources, Verne Global can save customers as much as $100 million in ten years on energy costs alone. For more information, please visit www.verneglobal.com

About The Wellcome Trust:
The Wellcome Trust is an independent charitable trust, established under the will of Sir Henry Wellcome in 1936. The Trust is the second largest biomedical research funding foundation in the world, with a mission to foster and promote research with the aim of improving human and animal health. Registered in England and Wales, it is the largest foundation in the UK by assets, managing a highly diversified investment portfolio ($21 billion as at 30 September 2009).

In 2008/09, the Trust's charitable expenditure was over $1.1 billion, used to support and facilitate innovative science and medicine on a global scale. The Wellcome Trust funds a diverse range of high-profile research that will lead to better understanding of major diseases and the development of better treatments for future generations, including:

- Sequencing of the human genome - Wellcome Trust-funded researchers sequenced one-third of the human genome, one of the most important scientific breakthroughs in recent times. Scientists are currently using this data to identify the genes that increase the chances of developing major diseases such as cancer, diabetes and heart disease.

- Understanding pandemic influenza - the Wellcome Trust is coordinating the UK research community's response to the latest pandemic H1N1 influenza outbreak, looking at every aspect of the virus: on pig farms, in the community, and in hospital intensive care units. The knowledge will help prepare for future outbreaks.

- The development of a new treatment for malaria - a Wellcome Trust funded study by Professor Nick White showed that artesunate drugs, derived from a Chinese herb, are more effective than chloroquine in the treatment of malaria, prompting the World Health Organization to change its recommendations for the treatment of malaria.

- Pioneering cognitive behavioural therapies - Wellcome Trust-funded researchers have developed therapies addressing a wide range of psychological disorders from bulimia to post traumatic stress disorder.

- Establishing the UK Biobank - the Wellcome Trust is helping to fund UK Biobank, a project of unprecedented size. By collating lifestyle and medical information from 500 000 volunteers, researchers hope to identify environmental and genetic factors that cause common conditions such as cancer and heart disease.

- Improving treatment of neonatal diabetes - Wellcome Trust-funded research at the University of Exeter has shown that some forms of type 2 diabetes have a single genetic cause. People with this form of the disease, once identified, can be treated with tablets, liberating them from a lifetime of insulin injections and transforming their quality of life.

- Difficult -to-treat wounds - the Wellcome Trust funded the development of the "MySkin" bandage for difficult-to-treat wounds, such as burns and non-healing ulcers (e.g. diabetic foot ulcers).

The Wellcome Trust also promotes public debate about biomedical research and its impact on health and wellbeing, through its support of public engagement and education activities. These include:

- Wellcome Collection - an inspirational cultural venue in London exploring the connections between medicine, life and art through a mix of free galleries, special exhibitions, events and the world renowned Wellcome Library.
- The National Science Learning Centre - a centre that delivers professional development and training for primary and secondary science teachers, enabling them to improve the quality of science education in UK classrooms.
For more information, please visit www.wellcome.ac.uk

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