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Aker Finalizes Investment in Nscale and Joint Venture in Narvik
The closing of Aker Nscale follows the fulfilment of all necessary conditions, and the completion of Nscale's Series B financing round, in which Aker became a 9.3% owner on a fully diluted basis. Aker's 50% stake in Aker Nscale is convertible into additional Nscale shares at a future IPO, positioning Aker to benefit from long-term value creation and public market upside.
Øyvind Eriksen, President and CEO at Aker ASA, commented:
"This reflects the full scope of Aker's strategic commitment – through our direct ownership in Nscale and our partnership in Narvik. Together, it gives us a strong position in a fast-moving market, with a structure designed to capture long-term upside. But this is also something bigger: we are finally realizing Narvik's potential, placing Norway at the heart of a new industrial era, and doing it in partnership with the most capable technology companies in the world."
Aker Nscale will be headquartered at Fornebu, Norway , with operational teams in Narvik. Kristian Røkke has been appointed Chief Executive Officer of the new company. He commented:
"I want to thank the people of Narvik and Northern Norway for their unwavering support and collaboration. Their commitment has been instrumental in turning a bold vision into a real, operational foundation for sovereign AI infrastructure. I've had the opportunity to work closely with local partners and municipalities, and to witness first-hand the capabilities and dedication that define this region. Aker Nscale is built on a clear and growing need: scalable, secure, and energy-efficient compute capacity for European AI. I'm proud to lead this effort and work alongside our teams, customers, and partners to realize its full potential."
Media contact:
Atle Kigen , Head of Media Relations and Public Affairs
+47 90 78 48 78
atle.kigen@akerasa.com
Investor contact:
Fredrik Berge , Head of Investor Relations
+47 45 03 20 90
fredrik.berge@akerasa.com
For more information about the companies, visit www.akerasa.com and www.nscale.com
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https://news.cision.com/aker-asa/r/aker-finalizes-investment-in-nscale-and-joint-venture-in-narvik,c4246455
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