NIB finances cloud computing capacity in Finland
- NIB has signed a 4-year EUR 22 million InvestEU-backed loan with Verda Cloud Oy.
- The financing will be used for investments in high-performance computing infrastructure.
- The project supports the development of European digital infrastructure and an EU-based cloud service provider.
The loan will finance the acquisition of graphics processing units (GPUs) and related networking and storage equipment. These investments will enable the development of new servers with high-performance computing capacity deployed in data centres, primarily in Finland. This loan is supported by the InvestEU programme under NIB’s Framework Operation Connectivity, Data Infrastructure & Digital Technologies.
The expanded capacity will respond to increasing demand for computing power, particularly for artificial intelligence and data-driven applications.
Ruben Bryon, Founder & CEO, Verda Cloud said: “AI is becoming critical infrastructure. With the support of NIB and our other financing partners, we can expand our capacity and keep serving AI teams with instant access to high-performance computing at scale.”
Jeanette Vitasp, Vice-President & Head of Lending said:“Access to high-performance computing is increasingly important for innovation and competitiveness. By supporting the expansion of cloud infrastructure in Finland, NIB is contributing to strengthening digital capacity in Europe.”
Verda Cloud Oy is a Finnish company providing access to high-performance computing resources through cloud-based services. The company invests in GPU infrastructure and offers flexible computing capacity for customers developing and deploying advanced applications.
The InvestEU programme provides the European Union with crucial long-term funding by leveraging substantial private and public funds. It aims to trigger more than EUR 372 billion in investment for EU policy priorities such as the European Green Deal, the digital transition, and support for small and medium-sized enterprises. NIB has been an InvestEU implementing partner since December 2022.
NIB is the international financial institution of Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway, and Sweden. The Bank finances projects that improve productivity and benefit the environment of the Nordic-Baltic region. The Bank is headquartered in Helsinki with a regional hub in Riga. NIB has the highest possible credit rating, AAA/Aaa, with S&P Global Ratings and Moody’s.
Contacts
Mikael Ahlers, Senior Banker, +358 10 618 0386, mikael.ahlers@nib.int
Arild Moen, Associate Director, External Communications Lead, +358 10 618 0496, arild.moen@nib.int
