New data center firm Evroc has selected Stockholm as the location for its first facility.

The company last week announced it had signed a letter of intent with Arlandastad Group to build a facility in 2024.

The companies aim to set up a joint venture to develop a facility in the Arlandastad area of Stockholm near Stockholm Arlanda Airport.

Evroc said it plans to invest €600 million ($640m) in the project, which is one of ten it intends to develop across Europe over the next ten years.

Specifications haven’t been shared – though Sifted said it will span 3,500 sqm (37,675 sq ft) – but Evroc said that the data center will be designed to contain 16,000 GPUs at full capacity.

Mattias Åström, Evroc founder and CEO: “Today, Europe is entering a new era for cloud and the next phase of the AI revolution. We want this flagship center to become a landmark for sustainability, technology, and architecture.”

Dieter Sand, Arlandastad Group CEO, added: “Evroc is an exciting company with a strong focus on sustainable development. We are pleased with the opportunity to jointly own and develop a property with Evroc, which will attract global attention and become a new landmark for Stockholm with its architectural design.”

Launched earlier this year, Swedish start-up Evroc raised €13 million ($13.9m) in its pre-seed round but is planning to get this to €3 billion ($3.2bn) in the next two years. The company aims to develop highly sustainable hyperscale facilities across Europe and offer cloud services.

Evroc’s initial funding has been supplied by EQT and Norrsken VC.

Founded in 2006, property development company Arlandastad Group owns Explore Arlandastad, an area outside Stockholm zoned for development for businesses.