Overview
- VivoPower signed an exclusive heads of agreement to buy an energized 40MW+ Norwegian data center powered entirely by renewable hydropower.
- The company plans to convert the site from blockchain co-hosting into a Sovereign AI Hub for LLM training and inference using carbon-neutral compute.
- The transaction is targeted to close in January 2026, contingent on conditions including financing arrangements and a shareholder vote.
- Funding is proposed via deferred vendor finance and a convertible preference share tranche with a $6.80 conversion price and a 6% payment-in-kind coupon, subject to shareholder approval.
- Management targets about $10 million in pro forma EBITDA at an indicative ~4x multiple implying roughly a $40 million valuation, while citing sub-$0.035/kWh power, a 50-year land lease, and potential 2026 approval for an additional ~40MW.