VivoPower to spin off non-Nordic AI data center assets into new Singapore-based platform

VivoPower to spin off non-Nordic AI data center assets into new Singapore-based platform

Mon, August 17, 2026 at 4:34 PM GMT+3 2 min read

• VIVO -10.20%

VivoPower PLC (NASDAQ:VIVO, FRA:51J) plans to spin off its non-Nordic AI data center assets into a new, independently capitalized company, the firm said on Monday.

The new entity will be headquartered in Singapore and independently capitalized through a targeted pre-IPO round of institutional and sovereign investment, followed by a planned primary listing on the London Stock Exchange and a secondary listing on the Abu Dhabi Securities Exchange.

The company said its board has approved creating an "AI Infrastructure Platform" to house more than 2.2 gigawatts of data center assets and development opportunities located primarily in the United Arab Emirates, Oman, Saudi Arabia, Malaysia and the Philippines.

The move is designed to sharpen VivoPower's focus on the Nordic market, where its 42-megawatt Mo i Rana facility in Norway remains the company's priority asset. Management is finalizing lease documentation with a preferred tenant, along with technical engineering details and an EPC contractor for that project.

VivoPower said it will retain de facto control of the platform through anchor shareholding, board representation and group governance linkage. Existing VivoPower shareholders will not receive shares in the new entity directly, but the company said their exposure to the non-Nordic portfolio will be preserved through VivoPower's retained stake.

The company said the new structure removes any future VivoPower funding obligation for construction of the non-Nordic portfolio, with the Platform to be capitalized through its own listing proceeds and third-party capital.

"We believe this strategy and structure best matches these assets with the right sovereign and institutional capital, which may unlock incremental value for VivoPower shareholders," CEO Kevin Chin said in a statement.

"This is by virtue of VivoPower retaining de facto control of the Platform and preserving shareholder exposure to the non-Nordic upside, without VivoPower having to fund the associated construction capital expenditure."

Capital markets, legal and tax advisers have been shortlisted for the transaction. Completion, including the planned listings, remains subject to definitive documentation, adviser and sponsor appointments, regulatory clearances, market conditions and shareholder approval where applicable.