LONDON – VivoPower International PLC (NASDAQ:VVPR) announced Thursday it has entered into a definitive agreement to acquire OGDC Pte Ltd, an AI data center infrastructure developer with economic interests in powered land across Finland. The micro-cap company, currently valued at approximately $39.62 million, is making this strategic move despite its stock having fallen 13.24% in the past week.
The acquisition will give VivoPower an economic interest in 291MW of strategic land in Finland, which is expected to be grid-connected within 12 months. The transaction is scheduled to close in February 2026.
Under the agreement terms, VivoPower will pay approximately $13 million in cash upfront from its existing reserves, plus contingent value rights that would trigger the issuance of convertible preference shares with a conversion price of $15 per ordinary share upon successful grid connections. According to InvestingPro data, this acquisition represents a significant commitment for VivoPower, which reported just $0.06 million in revenue over the last twelve months and is currently not profitable.
The Finnish sites will utilize renewable hydropower at rates below 4 cents per kilowatt-hour, which the company states will support high-density AI training and inference economics.
OGDC’s co-founders Philip van Wolffen, Shane Whelan, and Alex Cuppage, who collectively bring over 75 years of institutional real estate and infrastructure experience, will join VivoPower’s leadership team.
Kevin Chin, Executive Chairman and CEO of VivoPower, said the transaction structure “aligns incentives and avoids dilution” while potentially delivering shareholder value if milestones are achieved.
The companies have outlined a financing strategy designed to minimize equity capital needs by utilizing project finance debt and mezzanine finance, with a target breakdown of 65% senior debt, 15% mezzanine finance, and 20% equity for projects.
Finland was selected for its secure infrastructure, cold climate, and supportive government policies, according to the press release statement.
VivoPower International PLC is a B Corporation with business units spanning electric solutions, power-to-x operations, and digital asset activities.
In other recent news, VivoPower International PLC has made several strategic moves to bolster its business operations. The company announced a significant step forward with the confidential submission of a Form F-4 registration statement to the U.S. Securities and Exchange Commission. This filing is part of a proposed business combination between its subsidiary, Tembo e-LV, and Cactus Acquisition Corporation I, aiming for completion in March 2026. Additionally, VivoPower has executed an agreement to acquire a 40MW+ operational data center facility in Norway, valued at approximately $40 million, with the transaction expected to close in January 2026.
In a bid to accelerate electric vehicle adoption in Australia, VivoPower’s subsidiary, Tembo e-LV, has partnered with Help Me Buy An EV (HMBEV). This collaboration will focus on promoting Tembo’s electric utility vehicles in the commercial and fleet sectors. Furthermore, VivoPower has strengthened its advisory council with the appointments of Shane Whelan and Rachel Pether, bringing significant expertise from the real estate and financial sectors. These developments highlight VivoPower’s strategic efforts to expand its market presence and enhance its operational capabilities.
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