Nordic data centre developer Bulk Infrastructure has secured a further €350m equity investment from real estate investment management firm BGO.

Bulk Infrastructure, which intends to invest over €1bn of new capex by 2026 to grow its portfolio, said the latest investment brings BGO’s total equity investment in the company since 2020 to over €640m. 

Bulk Infrastructure owns a range of data centre solutions across three sites in Norway and Denmark. The company recently opened a 12MW facility at the N01 Data Center Campus which is already fully committed. Its next centre is under construction and will provide 42MW of capacity from early 2025.

Peder Naerboe, founder and executive chairman of Bulk Infrastructure, said: “The latest investment by BGO will fuel our ambitions to shift the gravity for global and European large data loads to the cold and sustainable north. We are seeing urgent demand for modern, large-scale AI-ready data centres from existing and new customers.

“BGO has been a reliable shareholder and partner to us since its first investment in 2020 enhancing our ability to deliver on our scalable, sustainable Nordic data centre platform.”

Jon Gravråk, CEO of Bulk Infrastructure, said: “We are excited to announce this new investment enhancing our ability to deliver on a scalable platform, meeting the growing AI demand from large existing, and new customers both in Europe and globally.

“This enables us to significantly expand our capacity going forward, ensuring we deliver high-performance solutions that drives both customer success and our growth as a company. We appreciate the continuing trust from our renowned partner BGO.”

BGO’s co-CEO, John Carrafiell, said: “Bulk’s range of industry-leading capabilities and technology, 100% green power and its track record of successful delivery of modern, AI-ready data centres is perfectly positioned to lead the way in this high-growth sector.” 

Bulk's N01 Campus

Source: Bulk Infrastructure

Bulk‘s N01 Campus

Carrafiell added that BGO will continue to support Bulk and its management team with its expertise and capital to enable Bulk to “realise the generational opportunities we see today for AI-ready, GPU-based data centres”.

BGO made the investment on behalf of its investment vehicles.

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