VivoPower Secures $41M Norway Data Center, Achieves $10M EBITDA Profit
VivoPower closed its $41 million acquisition of a 41.5MW operational Norway data center facility funded without equity raise and confirmed 100% renewable hydroelectric power at under $0.035/kWh. Pro forma revenues rise to $31 million and EBITDA to $10 million, delivering profitability and enabling capacity expansion beyond 80MW pending approval.
1. Acquisition Completion and Funding
VivoPower completed the $41 million purchase of Cowa’s operating subsidiaries in Norway, securing a 41.5MW energized data center facility in Moi i Rana. The transaction was fully funded without additional equity following receipt of all regulatory and corporate approvals.
2. Financial Impact and Profitability
On a pro forma basis, the acquisition contributes approximately $31 million in annual revenue and $10 million in EBITDA, turning a prior $8.2 million EBITDA deficit into a positive run rate. This immediate profitability stems from contracted infrastructure and hosting agreements at the facility.
3. Asset Overview and Expansion Prospects
The facility operates at 41.5MW capacity powered by 100% renewable hydroelectric energy at costs below $0.035/kWh. Regulatory approval for an additional 40MW expansion would lift capacity above 80MW, creating a pathway for high-value AI compute applications.