A new data center startup has launched in Norway, aiming to launch “AI factories” in Scandinavia.

Fossefall officially launched last week, with plans to establish 500MW of “clean” AI infrastructure by 2030.

The company aims to develop “AI factories” powered by surplus renewable energy (namely hydroelectric) in the Nordics.

Few details are available, but the company is reportedly initially targeting developments at 11 sites in Norway and an unknown number in Sweden. Its first projects are due to launch by the end of 2026.

“Europe is entering a new phase of industrial transformation,” said Øyvind Laugen Vesterdal, Fossefall CEO. “Our goal is to convert Norway’s renewable energy advantage into digital infrastructure that creates long-term value for investors, communities, and Europe’s AI economy.”

Vesterdal was previously CEO of data center firm Earth Wind and Power. He is a partner at investment firm Glacier Link and has held roles at investment firm Valinor, AI startup WAIYS, and renewable energy company Norsk Solar.

Among the company’s investors is Norwegian tech entrepreneur Stian Rustad, founder of accounting startup 24SevenOffice and Done AI. Alongside Rustad and the company’s executive team, investors in Fossefall include investment firm Ravenger Establishment.

“I’m strongly convinced that the next wave of value creation will come from clean, high-performance AI infrastructure,” Rustad said. “Fossefall combines industrial ambition with real technological depth, and that’s why I’m all in.”

This week saw the company secure investment from US AI firm Seekr and gain the company as a customer. Terms of the investment weren’t shared, but Fossefall’s site says Seekr has a 15.6 percent stake in the company.

Under the multi-year, phased multi-million-dollar customer agreement, Seekr will reserve AI capacity for the first 36 months (Phase I) in conjunction with the creation of an AI cloud service offering that Fossefall will sell under a revenue share and reseller agreement with Seekr.

Seekr’s Enterprise AI platform, SeekrFlow, will be deployed across Fossefall AI factories as the operating system for training and deploying AI solutions.

“This capacity agreement establishes Fossefall’s first commercial anchor client and validates our model of converting clean Nordic power into scalable AI infrastructure,” said Fossefall’s Vesterdal. “The accompanying SeekrFlow license expands our capability beyond hardware, allowing us to deliver complete, trusted AI factories ready for enterprise deployment.”

“The structure of our agreement with Fossefall, both as an investor and customer, allows us to meet the insatiable demand for accurate, explainable, and sovereign enterprise AI in Europe,” added Rob Clark, Seekr president. “Fossefall provides a strong infrastructure foundation, powered by clean energy and designed for performance. This allows us to deliver the best pricing and performance for SeekrFlow enterprise AI customers, whether they’re training models, performing inference, or deploying agents from our extensive library of pre-built, industry-ready applications.”

An AMD Ventures company, Seekr is an AI solutions company. The firm has previously signed a deal with Oracle to deploy an AMD GPU cluster.