atNorth Company Profile

Background

Overview

Founded in 2009, atNorth is a leading Nordic data center services company headquartered in Reykjavik, Iceland. The company specializes in providing sustainable, cost-effective, and scalable colocation and high-performance computing (HPC) services across Iceland, Sweden, Finland, and Denmark. With a strong commitment to environmental responsibility, atNorth's data centers operate exclusively on renewable energy sources and adhere to circular economy principles. This approach enables businesses to efficiently manage data-intensive workloads while minimizing their ecological footprint.

Mission and Vision

atNorth's mission is to deliver "more compute for a better world," emphasizing sustainability and innovation in powering the world's most demanding workloads. The company's vision is to be the leading operator of data center infrastructure in the Nordics and the decarbonization partner of choice.

Key Strategic Focus

Core Objectives

• Sustainability: Operating data centers powered by renewable energy and designed for energy efficiency.

• Scalability: Providing flexible solutions that accommodate varying workloads and business growth.

• Innovation: Implementing cutting-edge technologies to enhance performance and efficiency.

Areas of Specialization

• High-Density Colocation Services: Offering racks, cages, pods, and private data halls tailored to client needs.

• Build-to-Suit Data Centers: Developing large-scale, bespoke, and highly customizable data center solutions.

• HPC as a Service (HPCaaS): Through the Gompute platform, delivering advanced simulation technology for sophisticated, high-performance applications and workloads.

Primary Markets

atNorth targets enterprises, hyperscalers, and organizations with HPC and AI workloads, particularly those seeking sustainable and efficient data center solutions in the Nordic region.

Financials and Funding

Funding History

In January 2022, atNorth was acquired by Partners Group, a Swiss-based global private equity firm, to accelerate its growth across the Nordic region.

Recent Financial Performance

In 2022, atNorth reported a group income of SEK 560 million (approximately EUR 53 million), marking a 44% increase from 2021. The company invested about SEK 220 million (EUR 20 million) in 2022, with plans for significantly higher investments in 2023 to support further expansion.

Technological Platform and Innovation

Proprietary Technologies

• Gompute HPCaaS Platform: Acquired in 2023, this platform offers advanced simulation technology for high-performance applications, enhancing atNorth's service offerings for AI and other critical workloads.

Scientific Methodologies

• Direct Liquid Cooling Systems: In collaboration with CoolIT, atNorth has implemented bespoke direct liquid cooling solutions, significantly improving data center efficiency and supporting high-density workloads.

Leadership Team

• Eyjólfur Magnús Kristinsson: Chief Executive Officer

• Eva Sóley Guðbjörnsdóttir: Deputy CEO and Chief Financial Officer

• Benedikt Gröndal: Chief Operating Officer

• Fredrik Jansson: Chief Strategy and Marketing & Communications Officer

• Gisli Kr.: Chief Commercial Officer

Recent Appointments

In June 2023, atNorth expanded its leadership team with the following appointments:

• Mardís Heimisdóttir: Director of Strategy Implementation

• Tracey Pewtner: Marketing Director

• Elísabet Árnadóttir: Director of Security and Compliance

These additions aim to support atNorth's growth and commitment to sustainability and diversity.

Competitor Profile

Market Insights and Dynamics

The Nordic data center market is experiencing significant growth, driven by increasing demand for sustainable and efficient data processing solutions. The region's abundant renewable energy resources, favorable climate, and political stability make it an attractive location for data center operations.

Competitor Analysis

Key competitors in the Nordic data center market include:

• Green Mountain: A Norwegian data center operator known for its use of renewable energy and underground facilities.

• Digiplex: Operating data centers across the Nordics, focusing on energy efficiency and sustainability.

• Equinix: A global data center provider with a presence in the Nordic region, offering a wide range of colocation and interconnection services.

These competitors emphasize sustainability and energy efficiency, aligning with the market's demand for environmentally responsible data center solutions.

Strategic Collaborations and Partnerships

• CoolIT: Partnered to implement direct liquid cooling solutions, enhancing data center efficiency and supporting high-density workloads.

• Shearwater Geoservices: Collaborated to migrate HPC infrastructure to atNorth's data centers, achieving significant reductions in CO2 emissions and operational costs.

Operational Insights

Competitive Advantages

• Sustainability: Utilization of 100% renewable energy and innovative cooling technologies.

• Strategic Locations: Data centers situated in the Nordics, leveraging the region's favorable climate and infrastructure.

• Scalability: Flexible solutions accommodating various workloads and business growth.

Market Position

atNorth's commitment to sustainability, innovation, and customer-centric solutions positions it as a leading provider in the Nordic data center market, catering to enterprises seeking sustainable and efficient data center solutions.