Looking forward – Jørn Skaane – CEO

The past year will be remembered in many ways. For the data center industry, the accelerated move to online work, entertainment and other everyday activities driven by covid-19 escalated global digitalization, and the demand for future data center services.

New investment supporting LMD’s growth plans

Since early 2020, LMD has matured with new investment and external funding, showing confidence in our future. Columbia Threadneedle’s European Sustainable Infrastructure Fund has invested in LMD and is our new majority owner. It owns LMD together with German Edge Cloud (part of Friedhelm Loh Group). Their joint resources and long-term strategy have enabled LMD to accelerate our build out and to invest in future capacity to become one of the leading data centers in the Nordics.  

LMD’s recent refinancing with a funding agreement with UBS Asset Management will add to our momentum Together with solid, credible owners, skilled staff, and close cooperation with an eco-system of quality suppliers and partners, the new funding will support LMD to fulfill our significant ambitions and expansion plans.

Rapidly growing demand, focused on green solutions

In our latest market intelligence report, Altman Solon estimate that the European data center market will be more than doubled by 2026. As companies seek greener, energy efficient providers, a good share of this demand will find its way to green and cost-effective solutions like LMD.  In addition, LMD is has a leading value proposition in High Performance Computing and storage, and colocation for Hyperscaler’s and Nordic enterprise clients.

To prepare for further growth, LMD has invested in upgrading our power lines from 22 kV to 132 kV voltage. This will increase capacity, redundancy and substantially reduce the grid cost for our customers. LMD’s other ongoing build out projects will also allow customers with various product requirements.

Travel restrictions caused by covid-19 made site visits difficult for the entire industry but have not stopped LMD to signing new contracts. During the past year LMD has signed contracts totaling 10 MW capacity. We will welcome more new clients soon following the success of new sales resources in Germany.

New Business Association founded for Norway’s data and power industry

LMD is also very proud to be a founding member of the new business association “Norwegian Data Center Industry – a cooperation between leading data center operators and power companies in Norway. The association will work to further improve framework conditions and to simplify procedures for construction and operation of large data centers, and strengthen joint international marketing for Norway, highlighting that we have the highest share of renewable energy in Europe, with a very low climate footprint and the lowest electricity prices.

We are proud of our contribution to the future of the data center industry. Every day we strive to deliver on our vision to offer the most cost effective, secure, flexible, and green datacenter solution in Europe. The Norwegian Solution!

Thank you,

Jørn Skaane