Fossefall will deliver over 500 MW across Norway and Sweden to meet growing European demand
RESTON, Va. and OSLO, Norway, Nov. 10, 2025 /PRNewswire/ -- Seekr Technologies Inc. ("Seekr"), a US-headquartered, leading trusted artificial intelligence company, and Fossefall AS ("Fossefall"), a Norwegian AI infrastructure company, today announced a multi-year commercial agreement that will accelerate the deployment of sovereign, clean-energy AI capacity in Europe.
Across continental Europe, industrial electricity prices often exceed USD 0.15 per kWh, while in Northern Norway's NO4 region, powered almost entirely by renewable hydropower, average spot prices in 2025 were around 10 øre per kWh (~USD 0.009) (statistics Norway, Nordpool). The cool climate, abundant renewable generation, and stable political and security environment make Norway uniquely suited for high-density AI operations. A recent Fortune Business Insights report projects Europe's AI infrastructure market to grow at a CAGR of 28.30% during the forecast period (2024-2032) and is predicted to gain USD 16.86 billion in 2025.
This partnership brings together enterprise AI software that is built for mission-critical environments with one of Europe's lowest-cost clean-energy platforms and sets a framework to deliver a phased multi-million-dollar collaboration. 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. Definitive commercial terms will be finalized before year end.
Fossefall will build and own AI factories in Norway and Sweden, combining power generation, storage, and AI capacity into a single value chain. The company has already secured key powered land sites and is developing multiple sites across the Nordic region, targeting more than 500 megawatts (MW) of operational AI capacity by 2030. Seekr's Enterprise AI platform, SeekrFlow™, will be deployed across Fossefall AI factories as the operating system for training and deploying AI solutions that are accurate and secure, and delivering Seekr's distinctive explainability and governance that enterprise and government customers demand.
"This capacity agreement establishes Fossefall's first commercial anchor client and validates our model of converting clean Nordic power into scalable AI infrastructure," said Øyvind Vesterdal, CEO of Fossefall. "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."
About Seekr
Seekr is a privately held Artificial Intelligence (AI) company that provides secure, trusted, and explainable AI software solutions for mission-critical environments. Seekr helps enterprises and government agencies build, deploy and govern mission-ready Large Language Models (LLMs), Vision Language Models (VLMs), and Agentic AI solutions powered by their data. Headquartered in Reston, Virginia, Seekr is an AMD Ventures portfolio company. Seekr is employed across the U.S. Army, U.S. Navy, and other defense and intelligence agencies, and SeekrFlow™ is awardable in the Chief Digital and AI Office (CDAO) Tradewinds Solutions Marketplace.
About Fossefall
Fossefall is building Europe's first bankable AI infrastructure platform, where Norwegian power and land are transformed into scalable, sovereign, and sustainable data center capacity for AI. Fossefall's first projects are on track for financial close in 2026, with more than 400 MW under active development across the Nordics.
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SOURCE Seekr Technologies
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