General Catalyst bullish on Iceland plans

Boston Business Journal (Apr 27 2009) Geothermal

1. Venture capital firm General Catalyst Partners is pushing forward with its plans to open a geothermal-powered data center in Iceland despite that country’s economic swoon in recent months. The Cambridge-based firm partnered with Icelandic private equity firm Novator in 2007 to form a joint venture called Verne Holdings, which does business as Verne Global. The venture is planning to open a data center on the site of what once was a NATO air force base. Those plans remain in motion, said David Fialkow, managing director at General Catalyst, even though the Icelandic economy has suffered from an economic collapse. (Read Full Article)

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