VivoPower (NASDAQ: VVPR) signs deal to acquire 40MW Norway data center for $40 million

VivoPower International PLC (NASDAQ: VVPR) has entered an exclusive head of agreement to acquire an operational 40MW+ data center facility in Norway for approximately $40 million. The transaction is expected to add $10 million in proforma EBITDA, according to a company statement.

The facility operates on 100% renewable hydroelectric energy at a cost below $0.035/kWh and includes an additional 40MW earmarked for potential approval in 2026. The site features a 50-year land lease and is currently operating as a blockchain compute co-hosting business.

VivoPower plans to repurpose the facility into what it calls a “Sovereign AI Hub” to support large language model training and inference for enterprise clients. The acquisition will be funded through deferred vendor finance and convertible preference shares with a $6.80 conversion price and 6% annual PIK coupon.

The convertible preference shares require VivoPower shareholder approval at a general meeting scheduled for January 2026. The transaction is expected to close in January 2026.

The acquisition will operate under VivoPower’s Caret Digital business unit, which focuses on power-to-x applications for renewable energy. VivoPower operates globally across the United Kingdom, Australia, North America, Europe, the Middle East, and Southeast Asia through three business units: Tembo, Caret Digital, and Vivo Federation.

The company stated the acquisition is expected to return VivoPower to group-level profitable status post-closing. The transaction represents a 4x proforma EBITDA multiple based on the company’s projections.