Magnora and Blix investment prepares Storespeed for growth

21 Nov 2025 12:30 CET

21.11.2025 12:30:01 CET | Magnora ASA | Non-regulatory press releases

On October 6th, Magnora and Blix Solutions announced the acquisition of an 80%
stake in Norwegian data center operator Storespeed AS. The transaction has now
closed with the approval of key stakeholders.

Erling Magnus Solheim was appointed managing director with a mandate to plan for
asset-light expansion of capacity, broaden the offering to include full
redundancy (multi-location in collaboration with Blix Solutions in Oslo), and
market the improved facilities to new customers.

In parallel, Storespeed has applied for additional grid capacity to make full
use of the Halden facility, where a 5 MW data center is feasible (1.5 hrs from
Oslo).

Recent figures from CBRE on the European data center market show the Nordics
growing rapidly, partly due to low electricity prices and a climate ideal for
cooling, but mainly because the Nordic grid can still handle offtake. A
significant 57% of all AI signings volumes in Europe (year-to-date) have been
for capacity in the Nordics region, according to CBRE.

"Magnora's development capabilities, combined with the strong track record of
Storespeed and Blix Solutions, offer an excellent platform for growth," says
Magnora CEO Erik Sneve.

"Storespeed's data center in Halden has an impressively long track record. It
may attract customers looking for multiple solutions - colocation, AI, sovereign
cloud - and we look forward to expanding capacity here, as well as using this
site to prepare for larger projects," says Storespeed CEO Erling Magnus Solheim.

CONTACTS

* Erik Sneve, CEO, email: es at magnoraasa.com

ABOUT MAGNORA ASA

Magnora ASA (OSE: MGN) is a renewable-energy group developing wind, solar,
battery and data center projects. Magnora has operations in Europe and Africa
through the portfolio companies Magnora DC AB, Hafslund Magnora Sol AS, Magnora
Offshore Wind AS, Magnora Germany, Magnora Italy Srl, Magnora Solar PV UK,
Magnora South Africa, and AGV. Magnora also has earn-out revenues related to the
former portfolio companies Helios Nordic Energy and Evolar. Magnora is listed on
the main list of the Oslo Stock Exchange under the ticker MGN.

ATTACHMENTS

Download announcement as PDF.pdf -
https://kommunikasjon.ntb.no/ir-files/17847805/18727988/6593/Download%20announce
ment%20as%20PDF.pdf

More information:
Access the news on Oslo Bors NewsWeb site

660284_Download announcement as PDF.pdf