Nordic Compass is bringing in Telenor ASA and Copenhagen Infrastructure Partners, strengthening its bench with a major telecom player and a heavyweight in green infrastructure. According to Bloomberg News on Monday, Danish defense firm Terma A/S will join, and Euroclear Holding NV is nearing an agreement to join as well.
With the new names, the alliance broadens a roster of about 30 companies, investors and institutions that already includes EQT AB, Ericsson AB and the Novo Nordisk Foundation. The through-line: a push to make northern Europe more competitive by lining up private sector scale behind shared priorities.
Using Mario Draghi's competitiveness plan as a guide, Nordic Compass is developing projects spanning capital markets, advanced tech, defense, and the energy sector. CIP will take part in the alliance's energy work, and the firm ranks among the world's largest investors in renewable energy infrastructure.
The group is weighing ambitious options, such as knitting together a more integrated Nordic stock exchange and establishing a regional scale-up fund intended to keep fast-growing companies from seeking financing outside the region. It is also considering a fifth workstream on critical raw materials that would enhance the region's ability to process minerals required by European industry.
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"No Nordic country can meet the new economic reality alone," said Telenor's chief executive officer, Benedicte Schilbred Fasmer. "A stronger Nordic region is also a stronger Europe." Jakob Baruël Poulsen, Managing Partner at CIP, added, "The Nordic countries have a strong position in the global energy transition, which is increasingly interconnected with energy security and economic competitiveness."
An update on new partners is expected from Nordic Compass later this week. Its first summit is set for November, when the group plans to outline its agenda and present concrete proposals.
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