VivoPower

What VivoPower does

VivoPower PLC is a UK-domiciled, NASDAQ-listed (ticker VIVO) infrastructure company that has pivoted from its 2014 origins in solar development to building and operating renewable-powered AI data center campuses for sovereign nations and hyperscalers. Its core offering is long-term (10+ year) leasing of energized, grid-connected data center capacity powered by low-cost renewable energy — including a 41.5 MW operational facility in Mo i Rana, Norway (acquired April 2026 from Cowa for $41 million), 291 MW of powered land in Finland acquired via OGDC in January 2026, and an initial 25 MW platform in the UAE. The technology stack emphasizes 100% hydroelectric power at sub-US$0.035/kWh, Statnett-prequalified demand response grid services (30 MW enrolled, ~$1.9M incremental EBITDA), and behind-the-meter energy storage expertise drawn from Advisory Council members including former SpaceX lead battery engineer Porter Harris.

The business operates three segments: (1) AI Data Centers — the core product, anchored by the Norway facility generating approximately $31 million in annual revenue and $10 million in annual EBITDA; (2) Electric Mobility — the Tembo e-LV subsidiary producing ruggedized electric utility vehicles for mining, government, and industrial customers, pursuing a separate Nasdaq listing at ~$838 million valuation via SPAC merger with Cactus Acquisition Corp I; and (3) Power-to-X — a strategic infrastructure layer combining renewable energy with digital asset/DeFi activity, being spun off as a separate US-listed company. Go-to-market is direct enterprise sales for data center leasing (formal RFP/RFI competitive selection targeting sovereign nations and hyperscalers) and channel partnerships for EV distribution across East Africa, Australia, Saudi Arabia, and other markets. The company holds continuous B Corp certification since April 2018 (recertified through 2028, B Impact Score 86.6), which it leverages as a governance credential for sovereign-nation counterparties.

Revenue mechanics are dominated by recurring long-term infrastructure leases (Norway facility contributing $31M annualized) supplemented by hardware sales through Tembo EV channel partners. The company has raised approximately $170 million across four equity rounds between May 2025 and February 2026, anchored by Saudi Prince Abdulaziz bin Turki bin Talal Al Saud, with the most recent $30 million PIPE financing in February 2026 co-led by Blue Sky Capital and GCC sovereign family offices. Customer concentration is currently high given a single operational facility, but a competitive RFP process is underway to shortlist AI operator tenants for the Norway capacity, with unsolicited acquisition offers received at a premium — suggesting strong demand-side interest ahead of formal tenant commitments.

Name

VivoPower

Legal name

VivoPower International PLC

Website

https://vivopower.com

Company type

Public

Founded year

2014

Operating status

Operating

Headcount range

501–1,000 employees

Short description

VivoPower PLC is a NASDAQ-listed infrastructure company that builds and leases renewable-powered AI data centers to sovereign nations and hyperscalers, with 41.5 MW operational in Norway, 291 MW secured in Finland, and a Tembo EV subsidiary spinning off at ~$838M.

Ownership category

akta.pro rank

Product category

Sovereign AI Data Center Infrastructure

NAICS

Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (518), Computer Facilities Management Services (541513)

SIC

Services-Computer Rental & Leasing (7377)

akta.pro primary industry

Power Distribution & Switchgear (UPS, PDUs, Busway) (HDABAKAA)

Keywords

• AI data center infrastructure
• Renewable energy leasing
• Sovereign compute platforms
• Electric utility vehicles
• Hyperscale colocation services

Headquarters

HQ city

Mayfair

HQ country

United Kingdom

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Technology or R&D, Personnel, Operations, Supply Chain, Marketing or Sales

Revenue model

1. Data Center Leasing: Long-term leasing of AI-ready data center infrastructure to sovereign nations and hyperscalers. Revenue generated from facility leases with the 41.5MW Norway facility contributing approximately $31 million in annual revenues and $10 million in annual EBITDA.
2. Electric Utility Vehicle Sales: Sale of Tembo electric utility vehicles (Electric Cruiser and Electric HLX) for mining, government, and commercial applications. Includes distribution agreements with regional partners across Kenya, Tanzania, Saudi Arabia, and Australia.
3. Digital Asset Treasury: Strategic digital asset treasury strategy focused on XRP and Ripple Labs shares. Previously included Caret Digital mining operations and partnerships for stablecoin payments.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

VivoPower builds, owns, and operates renewable-powered AI data center infrastructure for sovereign nations and hyperscalers, with a 41.5MW operational facility in Norway, 291MW of powered land in Finland, and a 25MW platform in the UAE. The company also operates Tembo e-LV, a subsidiary producing electric utility vehicles (conversions of Toyota Land Cruiser and Hilux) for mining, government, and industrial fleets. Revenue is generated through long-term data center leases (10+ years) and electric vehicle sales via regional distribution partners.

Product overview

VivoPower operates as a multi-segment infrastructure company with three primary business lines: (1) AI Data Centers — the core product, encompassing operational and development-stage renewable-powered data center assets in Norway (41.5MW Mo i Rana, expandable to 80MW+), Finland (291MW via OGDC acquisition, sub-4¢/kWh hydro power), and the UAE (25MW initial platform); (2) Power-to-X — a strategic infrastructure layer combining renewable energy conversion with high-value compute assets via Caret Digital and Vivo Federation sub-brands, currently undergoing spin-out as a separate US-listed company; and (3) Electric Mobility — the Tembo e-LV subsidiary producing ruggedized electric utility vehicles (Toyota Land Cruiser and Hilux conversions) for mining, government, and industrial applications, also pursuing an independent Nasdaq listing via SPAC at a ~$838M valuation. All segments are underpinned by VivoPower's B Corp certification and focus on sovereign-grade infrastructure partnerships.

Differentiator

Problem solved

Functional benefit

Brands

• Tembo: Electric utility vehicles for off-road, ruggedized, and customized on-road use cases for business and government applications
• Caret Digital
• Vivo Federation

Products and services

• AI Data Centers
• Norway Data Center (Mo i Rana)

Quantifiable outcome

• Below $0.035/kWh power costs for Norway data center vs typical European data center rates
• +2 more outcomes

Named customers4 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature3 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• Cactus Acquisition CorpcoreStrategic or Co-development Partner · 26 March 2026Business combination for Tembo Group N.V. spinoff with Nasdaq listing under ticker TEMB, valued at approximately $838 million, subject to regulatory and shareholder approvals.
• KWeatherminorStrategic or Co-development Partner · 4 February 2026Definitive agreement with KOSDAQ-listed KWeather for 20% stake valued at $4.3 million, including WeatherCoin tokenization project in South Korea and strategic exit from Ripple Labs holdings.
• OGDC Pte LtdcoreStrategic or Co-development Partner · 22 January 2026Acquisition of AI data center infrastructure developer for approximately $13 million cash plus contingent value rights, securing 291MW of powered land across Finland at sub-4¢ per kWh renewable power.
• HMBEVcoreChannel Partner/ Reseller/ Distributor · 16 January 2026Strategic partnership with Australian EV consultancy to promote electric utility vehicles in Australia's commercial and fleet sectors, targeting demanding markets like mining and construction.
• Green WattcoreChannel Partner/ Reseller/ Distributor · 3 November 2025Definitive distribution agreement to sell 1,600 electric utility vehicles in Saudi Arabia over five years, with estimated value of up to $85 million.
• Associated Vehicle Assemblers (AVA)coreChannel Partner/ Reseller/ Distributor · 31 October 2025East Africa's largest vehicle assembler (IATF16949-certified) partnered to distribute, assemble, and service Tembo's 100% electric utility vehicles across Kenya, Tanzania, and wider East Africa, targeting a 500-million-person market.
• Doppler FinanceminorStrategic or Co-development Partner · 2 September 2025Institutional XRP and RLUSD yield programs partnership for maximizing returns on crypto treasury strategy.
• Crypto.comcoreStrategic or Co-development Partner · 12 August 2025Institutional-grade custodial services for digital asset treasury holdings and Caret's digital asset mining operations. Partnership enables VivoPower shares to be traded on Crypto.com's platform with access to 150 million users.

Scale indicators9 records

Recent moves10 records

Expansion highlights6 records

Direct peers

• Crusoe Energy: Crusoe builds and operates renewable-powered data centers specifically designed for AI and high-performance computing workloads, sharing VivoPower's core thesis of converting stranded renewable energy into AI compute capacity.
• Iris Energy (IREN): Iris Energy operates 100% renewable-powered data centers and has pivoted from Bitcoin mining to AI/HPC computing, making it a near-identical business model to VivoPower's data center landlord strategy.
• Applied Digital (APLD): Applied Digital designs, builds, and operates data center campuses purpose-built for AI and high-performance computing, with a similar pivot story from crypto-mining origins to AI cloud infrastructure landlord.
• TeraWulf (WULF): TeraWulf operates energy-intensive computing infrastructure with a focus on low-cost, predominantly zero-carbon power, and is actively transitioning its data center capacity toward AI/HPC hosting — directly comparable to VivoPower's positioning.

Emerging players

• Nscale: UK-based Nscale provides sovereign-grade AI infrastructure with a focus on European markets, overlapping with VivoPower's sovereign-AI thesis and Nordic/Middle East footprint. Targets similar hyperscaler and government customers.
• CoreWeave: CoreWeave operates large-scale GPU-accelerated cloud infrastructure purpose-built for AI, providing a comparable emerging hyperscaler-targeted AI infrastructure platform although with more emphasis on software/cloud than VivoPower's powered-land landlord model.
• Nebius: Nebius provides full-stack AI infrastructure including purpose-built data centers and GPU cloud, with a similar pivot story from legacy tech roots to AI infrastructure landlord competing for the same sovereign and enterprise AI tenant demand.

Broad incumbents

• Equinix (EQIX): Equinix is the largest global colocation data center operator and interconnection provider, representing the broad incumbent benchmark for data center leasing economics that VivoPower's sovereign AI platform competes against for hyperscaler tenants.
• Digital Realty (DLR): Digital Realty Trust is a major global data center REIT operating hyperscale and colocation facilities across 50+ metros, serving as the institutional incumbent comparable for VivoPower's power-secured data center strategy.

Regional players

• EcoDataCenter: EcoDataCenter operates renewable-powered, climate-positive data centers in the Nordics with a strong sustainability positioning — directly comparable to VivoPower's Norway/Sweden footprint and B Corp-certified sustainability brand.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/Vivo_Power
• YouTubeyoutube.com/@vivopowerinternationalplc
• Facebookfacebook.com/vivopower
• LinkedInlinkedin.com/company/vivopower
• Instagraminstagram.com/vivopower_

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries2 records

Funding overview

Funding rounds5 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about VivoPower