Bulk Infrastructure AS makes a share capital increase of 400-550 MNOK

Bulk Infrastructure AS (“Bulk”) makes a share capital increase by way of issuance of new shares to allow for an increase of 400-550 million NOK in new share capital. A pre-commitment from Bulk´s majority shareholder Bulk Industrier AS (controlled by founder and CEO Peder Naerboe and family) and Geveran Trading Co. Ltd (a company indirectly controlled by John Fredriksen and his immediate family) ("Geveran") has secured a minimum of 400 million NOK in the issue.

"We are very pleased to get Geveran onboard as an investor in Bulk. We have an ambition to make Norway, and our two projects N01 Campus and Oslo Internet Exchange, large international hubs for sustainable digital infrastructure. The support of Geveran´s vast experience to scale in the international market will be valuable in executing this strategy”, said Peder Naerboe, Founder and CEO of Bulk Infrastructure AS.

Bulk is currently developing two large digital infrastructure projects in Norway. At N01 Campus in Vennesla, Bulk is developing a data center park that can scale to about 2,000 MW with hydroelectric power. Bulk is also constructing a new international subsea fiber cable connecting Kristiansand and N01 Campus directly to the US, Ireland and Denmark. This project is part of a trans-Atlantic subsea fiber cable, Havfrue, which is a joint build agreement between Bulk, Google, Facebook and Aquacomms.

“We will offer long term infrastructure agreements on the Havfrue cable to carriers and datacenter customers to unlock Norway´s enormous surplus of renewable energy to the datacenter industry. To obtain credibility in the international market and to secure opportunities like the Havfrue with global leaders like Google and Facebook we have chosen to make these investments with equity. We believe a strong financial position will also help Bulk maintain the role as the leading industrial and logistics real estate developer in Norway” said Naerboe.

ABG Sundal Colliers have acted as sole adviser to Bulk´s share capital increase.

For further information, please contact:

Peder Nærbø
CEO and Founder
Bulk Infrastructure AS
+47 913 777 94
Kenneth Øen
ABG Sundal Colliers
+47 480 16 147