New Nordic data center firm Fossefall has acquired a data center in Norway.

Fossefall this week announced it has entered into an agreement to acquire Fyresdal Datacenter from Norwegian holding company Norsk Data AS to establish its first AI factory in Norway. Terms of the deal were not shared.

Located in Fyresdal, Telemark, Norsk Data has said the facility can support up to 5.5MW, with potential for further expansion.

“The establishment of Fossefall’s first AI factory in Fyresdal marks the start of our plan to develop Norwegian hydropower and expertise to build Europe’s AI infrastructure. By refining clean energy into high-tech AI capacity, we will ensure national control over critical technology, create a billion-kroner export commodity, and generate significant local ripple effects,” said Øyvind Vesterdal, CEO of Fossefall.

The company said the purchase of the data center was a “strategic step” in its plan to build Nordic-owned AI factories in Norway and Sweden with up to 500MW of capacity by 2030. The company has previously said that 11 locations are under negotiation and development.

Fossefall launched earlier this month, 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.

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 and US AI firm Seekr.

Founded in 2021 by Mybit Holding and construction firm EMBRA, Norsk Data also lists a data center in Moland. It previously sold the Åsmyra Industripark in Fauske to Nscale for a planned data center development.

“When we bought the building and property from Fyresdal kommune in April 2021, we did not know that this would be the start of a good and far greater collaboration with the municipality – a collaboration that we are happy to continue further,” Norsk Data said on LinkedIn. “Now the time has come to hand over our first project in Fyresdal – a modest but very important start – to new owners. We are pleased that Fossefall AS will develop the building and property further, and we wish them lots of luck with their further journey.”

Fyresdal kommune is the local government administration based out of Kommunehuset, Fyresdal.

EdgeConneX is exploring developing a 240-acre campus in the Molandsmoen industrial area of Fyresdal that could offer 140MW across six buildings.