In Norway Fossefall has been launched. The aim of this new AI-company is to build Europe’s next industrial growth platform, powered by clean energy and artificial intelligence. It immediately announced a multi-year commercial agreement with American AI company Seekr.
Fossefall is a Nordic start-up that focuses on building green AI factories: data centres powered by hydropower and local energy. While many international players are buying up capacity in Norway to secure inexpensive electricity, Fossefall intends to use surplus power to create a digital industry and generate jobs here at home.
A new phase of industrial transformation
“Europe is entering a new phase of industrial transformation,” says Øyvind Laugen Vesterdal, CEO of Fossefall. “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. We are at a crossroads. We either sell the electricity cheaply as a raw material and buy back AI capacity at a high cost, or we use the power ourselves to build value. Our goal is to refine the energy, not export it," says Øyvind Laugen Vesterdal, CEO of Fossefall.
Vesterdal draws a parallel to the origins of Norway’s industrial history: "In the same way we used hydropower to build aluminium plants and smelters a hundred years ago, we must now use it to build a digital industry. Norway and the Nordic countries have clean energy, political stability, and a high level of trust: in fact, everything the global market demands."
Seekr
Fossefall now has 11 AI factory sites in its Nordic development pipeline. The company's ambition is to establish 500 MW of clean AI infrastructure by 2030.
Seekr will reserve AI capacity for the first 36 months (phase 1) in conjunction with the creation of an AI cloud service offering that Fossefall will sell under a revenue share and reseller agreement with Seekr. SeekrFlow™, its Enterprise AI platform, will be deployed across Fossefall's 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 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", said 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."
