What PolarDC Group does

PolarDC Group is a London-registered, Norway-operating developer and operator of AI-ready data center facilities serving hyperscale AI companies, cloud providers, and enterprise AI deployers. The company was founded in 2022 and is controlled by H.I.G. Capital following a 2024 acquisition; it operates under a three-tier service architecture — Ultrascale (hyperscale AI campuses), Infrascale (wholesale single-occupancy buildings), and Flexiscale (enterprise colocation) — complemented by Smart Hands, security, interconnectivity, and special project services. Its core technology centers on NVIDIA reference architecture compliance, 100kW+ per-rack density support, direct liquid cooling combined with Nordic free cooling, a dual-loop cooling architecture, and 100% renewable hydroelectric power across facilities, targeting a PUE of 1.12–1.15.

The company generates revenue through long-term colocation and build-to-suit contracts with customers on a subscription basis, with pricing quoted per engagement and tied to MW capacity, design specifications, and contract length. Its operational footprint currently includes DRA01 in Drangedal, Norway (52MW IT load in phased development), HER01 in Herøya, Norway (initial ~40MW, 100MW planned, pre-design phase), and a 250MW site in Doncaster, UK. A development pipeline of approximately 1,040 MW spans Sweden, Finland, and Germany. Anchor customers include CoreWeave on a 15-year contract and Crusoe, both AI/HPC cloud providers.

PolarDC is backed by €146 million of equity from H.I.G. Infrastructure and a record €800 million senior secured Nordic bond issued in June 2026 (the largest such transaction in the Nordic market), which refinances the Drangedal facility and funds construction of two additional data centers targeted for 2026 and 2027 delivery. The platform is expected to generate approximately €97 million in annual EBITDA once three Norwegian sites reach full operation.

Name

PolarDC Group

Legal name

PolarDC Group LTD

Website

https://polardc.com

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

11–50 employees

Short description

PolarDC Group is an AI-ready data center developer and operator headquartered in London with Norwegian operations, serving hyperscale AI tenants and cloud providers through Ultrascale, Infrascale, and Flexiscale colocation tiers powered by Nordic hydroelectric energy and NVIDIA reference architecture designs.

Ownership category

akta.pro rank

Product category

AI-Ready Data Center Infrastructure & Colocation

NAICS

Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (5182), Computer Facilities Management Services (541513), Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (518210)

SIC

Services-Facilities Support Management Services (8744)

akta.pro primary industry

HPC / AI-Optimized Data Center Facilities (HDABACAJ)

akta.pro secondary industries

Hyperscale Data Center Campuses (Build-to-Suit) (HDABACAC), Data Center Operations & Managed Services (Remote Hands, NOC/SOC) (HDABANAA), Heat Rejection & Mechanical Plant (Cooling Towers, Pumps, Condensers) (HDABAKAE)

Keywords

• AI-ready data centers
• High-density colocation
• Liquid cooling infrastructure
• Hyperscale hosting
• Renewable data centers

Headquarters

HQ city

Oslo

HQ country

Norway

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Supply Chain, Technology or R&D, Personnel, Operations, Marketing or Sales

Revenue model

1. Data Center Colocation and Hosting: PolarDC generates revenue by providing colocation and hosting services for AI, HPC, hyperscale, and cloud workloads. The company offers three tiers of service (Ultrascale for hyperscale campuses, Infrascale for wholesale single-occupancy buildings, Flexiscale for enterprise colocation), with customers signing long-term contracts. Revenue is driven by contracted power capacity (MW), rack space, and potentially interconnectivity and support services.

Pricing tiers

Go-to-market motion2 records

Distribution channels1 record

Marketing channels4 records

Core offering

PolarDC Group develops and operates AI-ready data center facilities across the Nordics and UK, providing colocation and build-to-suit infrastructure for hyperscale AI, HPC, and cloud workloads. The platform is delivered through three service tiers (Ultrascale for hyperscale campuses, Infrascale for wholesale single-occupancy buildings, and Flexiscale for enterprise colocation), complemented by Smart Hands, Security, Interconnectivity, and Special Projects services. Facilities feature NVIDIA reference architecture designs, 100kW+ rack densities, direct liquid cooling, 100% renewable hydroelectric power, and target PUE of 1.12-1.15.

Product overview

PolarDC Group operates as an AI-ready data center developer and operator with a modular platform architecture consisting of three core service tiers: Ultrascale (designed for the largest hyperscale AI deployments with campus facilities), Infrascale (AI-ready wholesale capacity with fast deployment using shared or dedicated facilities), and Flexiscale (colocation for enterprise and small private cloud with move-in ready infrastructure). The platform is complemented by additional services including Smart Hands (24/7 technical support), Security Services, Interconnectivity Services, and Special Projects. All facilities feature NVIDIA reference architecture designs, support liquid and air cooling with 100kW+ rack densities, and are powered by renewable hydroelectric energy in Nordic locations targeting PUE of 1.12-1.15.

Differentiator

Problem solved

Functional benefit

Products and services

• Ultrascale Large-scale AI factory deployment offering for hyperscale customers, featuring campus facilities designed to NVIDIA reference architecture, build-to-suit options, multiple European sites with low-cost power at scale, major funding partners, and established supply chains for critical components.
• Infrascale AI-ready wholesale data center capacity delivered quickly at scale for wholesale deployments, offering single-occupancy buildings or dedicated large halls with collaborative design and fit-out, liquid and air-cooled racks (100kW+ density), shared or dedicated facilities, and pre-built M&E environments across multiple European locations.
• Flexiscale Colocation solution for high-performance applications with flexible, nimble deployment reducing time to market, ideal for enterprise deployments and small private cloud. Includes shared facilities, liquid and air-cooling options, full support services, multiple on-site carriers, design and migration support, and pre-built capacity with flexible contracts.
• Smart Hands Specialist onsite technical and engineering support service for data center customers, providing 24/7 hands-on response, pre-scheduled works, rapid response capabilities, logistics services, NVIDIA-certified technicians, solution architecture for GPU and data center products, and technical installation with ongoing connectivity support.
• Security Services Specialist security services for data center tenants, including security clearance capabilities, customer-specific guarding services, and emergency procedures and monitoring for data center facilities.
• Interconnectivity Services Connectivity services for data center tenants, including consultative connectivity services, carrier and OSP dark fiber, private and public cloud on-ramp connectivity, and physical layer cross-connects.
• Special Projects Technical, engineering, and consultative services for data center customers, including vendor management, supply chain sourcing, staging and warehousing, white glove and IT delivery services.

Quantifiable outcome

• PUE as low as 1.12 achieved through Nordic climate, free cooling, and advanced liquid cooling
• +4 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature8 records

Partnerships

Four partnerships are on record, tiered minor.

• CoreWeaveminorOthersCoreWeave is an AI cloud infrastructure provider and tenant at Polar's Norwegian data center on a 15-year contract, representing a committed long-term customer relationship.
• CrusoeminorOthersCrusoe is an AI data center operator leasing an existing site at Polar's Norwegian data center facility.
• Herøya Industrial ParkminorStrategic or Co-development PartnerHerøya Industrial Park in Porsgrunn, Norway hosts Polar's HER01 data center development. Polar is working closely with the industrial park for the long-term, large-scale deployment of AI infrastructure at the site.
• Kommune of PorsgrunnminorStrategic or Co-development PartnerPolar is working closely with the Kommune (municipality) of Porsgrunn to develop HER01, collaborating with local government for permitting and community alignment.

Scale indicators12 records

Recent moves7 records

Expansion highlights5 records

Emerging players

• Maincubes: European data center operator (Frankfurt, Amsterdam, Zurich) with colocation and hyperscale offerings. Smaller-scale European peer serving similar enterprise and AI-adjacent customer segments.

Direct peers

• GreenMountain Data Centre: Norwegian colocation and HPC data center operator leveraging hydroelectric power and cool Nordic climate — a directly comparable Nordic hyperscale/enterprise platform targeting similar AI and HPC customers.
• Bulk Infrastructure: Nordic data center developer and fiber network operator with hyperscale facilities in Norway and Denmark. Operates similar AI/HPC-ready campuses with renewable power focus and is one of PolarDC's most direct Nordic competitors.
• Stack Infrastructure: US-headquartered hyperscale data center developer with AI-ready facilities, serving similar hyperscale and large-cloud customers. Comparable in scale-up build-to-suit model and AI workload focus.
• EdgeConneX: Specialized data center operator focused on hyperscale, edge, and AI workloads with high-density liquid-cooled deployments. Direct competitor in the AI-ready hyperscale segment with similar GPU-cluster customer base.

Broad incumbents

• QTS Realty (Blackstone): One of the largest US hyperscale data center operators, now part of Blackstone, with multi-GW pipeline and major AI hyperscaler tenants. Represents the scaled, well-capitalized incumbent competing for the same AI infrastructure wallet.
• CyrusOne (KKR/Globalswift): Global hyperscale data center operator now owned by KKR and GIP, with AI-ready capacity in Europe. PolarDC's VP Development Paul Hicks previously led real estate at CyrusOne — making it a close analog on customer profile and operational model.
• Digital Realty Trust: Global colocation and hyperscale data center REIT with extensive European footprint and platformDIGITAL AI offerings. PolarDC's security leadership has prior Digital Realty tenure. Largest scaled incumbent competing for AI hyperscale tenants in Europe.
• Equinix: Global interconnection-focused data center operator with broad enterprise and hyperscale offerings. PolarDC's Interconnectivity Services compete in adjacent territory; Equinix is the broadest incumbent peer in European data center services.

Regional players

• Nabiax: Spanish-headquartered wholesale and hyperscale data center operator with facilities across Spain and Latin America. Comparable wholesale/build-to-suit model targeting hyperscale tenants, though operating in different European geographies.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries1 record

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about PolarDC Group