Wafr Technologies has announced plans to develop an AI research lab in Canada and revealed it has raised $100 million toward a $300 million fundraising goal to support the initiative and accelerate commercialization of its cooling technology.

The Vancouver-based company builds cooling infrastructure for AI data centres, with technology designed to reduce water and energy consumption. On average, typical data centres use up to 10 million litres of water per megawatt annually, with cooling consuming 30 to 45% of total electricity load. Wafr says its technology cuts water use by up to 95% and cooling power use by up to 80%.

"Artificial intelligence represents one of the greatest advancements of our generation but we don't want it to come at an environmental cost to future generations," said Bikram Singh, co-founder and CEO of Wafr. "Our vision is to build a globally recognized AI research lab in Canada and be a leader in how we can reduce the impact to water and energy."

The proposed research lab would bring together researchers, engineers, and industry partners to develop next-generation AI infrastructure technologies. Foresight Canada, which recognized Wafr at its 2025 Foresight 50 Showcase as one of Canada's most investable cleantech companies, is described as a major contributor to the lab.

The fundraising will support the lab's development, expansion of engineering and research teams, commercial deployment of the cooling technology, and partnerships with industry, government, and academic institutions.

"Canada has an opportunity to lead the world in sustainable AI, and we're building the technology to make that possible," said Darrell Kopke, co-founder of Wafr.

Wafr was part of the inaugural cohort of the UBC Sauder Scale Up Program earlier this year — a program designed to help B.C. companies scale into defence, dual-use, and advanced industrial markets.