N59° covers the capital expenditure for core data-center infrastructure and energy systems on behalf of third-party operators, hyperscalers, and developers. We self-perform development, EPC, and energy delivery, then structure the asset on a lease-to-own basis — transferring ownership to the customer over the lease term.
A single path for third-party operators who need AI-ready data-center capacity built without carrying the full balance-sheet load.
N59° funds the capital expenditure for the site's core infrastructure and/or compute buildout, removing the balance-sheet burden from the third-party customer. Each project is financed through a dedicated SPV under N59° GridCore S.à r.l.
N59° self-performs development, EPC, and energy infrastructure delivery — grid connection, power, cooling, and shell — to a turnkey, AI-ready standard. Facilities are planned around the 800 VDC power system expected from Q1 2027 and direct-to-chip liquid cooling.
The customer leases the delivered asset with a structured path to ownership over the lease term, rather than an open-ended operating lease. This aligns N59°'s upfront capital risk with the customer's long-term ownership goals.
Financing and lease-to-own platform — a dedicated project SPV per asset.
Each asset is financed through its own SPV under GridCore. SPVs are not necessarily wholly owned by the group — ownership and capital structure per project may include co-investors and joint-venture partners, and capital can be raised directly at SPV level. The structure is designed to support ring-fencing and project-level transparency, subject to the final finance documents, guarantees, covenants and security packages for each transaction.
Land, power, shell, and cooling infrastructure under a long-duration lease — the asset base that doesn't move with hardware cycles and transfers to the customer on the agreed terms.
GPU-ready IT capacity under a separate lease term, matched to hardware refresh timelines rather than real estate timelines and structured toward customer ownership.
Grid connection and battery storage engineered into the site from the first drawing — not added after the fact to patch a capacity gap.
Data-center upgrades and technology refresh can be kept current under a separate agreement, so the facility stays aligned with evolving compute requirements throughout the lease term.
N59° Thor AS performs yearly maintenance on the facilities under the leasing solution, ensuring the built environment remains reliable and bankable across the contract term.
N59° Thor AS designs, procures, and builds every data center the group develops — the in-house EPC capability that keeps delivery bank-financeable end to end.
Facilities are planned around the new 800 VDC power distribution system expected from Q1 2027, combined with direct-to-chip liquid cooling — designed in from the first drawing rather than adapted later.
N59° AI AS is under establishment as the group's Norwegian operating company. It is being set up to operate the group's first data center, and thereafter other group-owned facilities and, where agreed, third-party data centres under separate operating agreements.
During the lease period the asset is held by N59° GridCore S.à r.l. or a dedicated project SPV under GridCore. N59° AI AS is intended to operate the facility under the lease terms, with ownership and any transfer after the lease governed by the agreed finance and lease documents.
N54° Battery GmbH is under establishment to manufacture 10-foot high-cube containerized BESS for N59°'s active site pipeline across Europe, removing a major cost and lead-time variable from group projects.
Development focuses on cybersecurity and regulatory compliance so the systems can be delivered into critical-infrastructure and defence-adjacent applications. Planned production start is Q2/Q3 2027. N54° intentionally uses the 54° designation for the latitude of the battery manufacturing base.
Development, EPC, energy manufacturing, operations, and financing each sit in their own entity — so risk, financing, and cash flow are structured by function.
Each asset is financed through a dedicated project SPV under N59° GridCore S.à r.l., with a defined start and end for every facility. SPV ownership and capital structure can include co-investors and JVs, and capital may be raised directly at SPV level. The structure is designed to support ring-fencing and project-level transparency, subject to the final finance documents, guarantees, covenants and security packages for each transaction.
Each project sits in its own SPV under GridCore — its own lease and its own financing package, designed to support ring-fencing and project-level transparency.
For the group's own facilities, N59° AI AS is intended to operate the site under the lease terms. Ownership remains with the project SPV during the lease, with any retention or transfer after the lease governed by the agreed finance and lease documents.
For external customers, GridCore offers a Build–Lease–Transfer structure: N59° Thor delivers the EPC scope, the GridCore SPV finances and owns the asset during the lease while the customer operates it, and ownership transfers to the customer or a nominated entity at the end of the contract on the specific terms agreed.
N59°/GridCore finances and holds the data-centre infrastructure and compute hardware during the lease term under a lease-to-own structure. The model is compatible with asset-light AI-cloud partnerships where a platform partner brings systems architecture, supply-chain access, hardware and software deployment, and global customer sales on top of N59°-funded capacity.
N59° Thor delivers EPC, GridCore SPVs finance the infrastructure and compute hardware, and N59° AI operates the European facility under a lease-to-own structure.
A cloud platform partner contributes systems architecture, supply-chain access, stack deployment and worldwide enterprise distribution — without owning the underlying assets.
Commercial structures can combine revenue sharing, licensing, commission and committed-capacity arrangements. Committed capacity or a minimum-revenue floor is required to make large-scale deployments bankable.
The founder and group have established supplier and business-development relationships with several leading vendors. Except where explicitly stated, these are working relationships, not formal partnerships or project contracts.
Facilities are designed for NVIDIA-based AI infrastructure. N59° intends to engage NVIDIA directly for strategic qualification and technology alignment. No signed partnership is claimed at this stage.
Supplier relationship for core electrical and power infrastructure, formalised today by a Memorandum of Understanding covering ongoing technical and commercial cooperation.
Established supplier and business-development relationship for electrical and power infrastructure. No formal partnership or project contract is claimed at this stage.
Working relationship with Ramboll for engineering and project delivery support on bank-financeable infrastructure projects.
Close working relationship through our Nordic distribution partner. No formal group-level partnership agreement is claimed.
Working with us from the start of each project to help structure risk placement and insurability, supporting the bank-financeability of the asset.
Funded build-to-own delivery for AI-ready data centers — tell us which part of the value chain you need to talk through and we'll route it to the right person in the group.