VivoPower PLC (NASDAQ: VIVO) completed its $41 million acquisition of Cowa's operating subsidiaries that own a 41.5MW data center facility in Norway's Mo i Rana industrial precinct, according to a company statement.

The acquisition adds $31 million in annual revenue and $10 million in annual EBITDA to VivoPower's operations. Prior to the acquisition, VivoPower reported $0.1 million in annual revenue and negative $8.2 million in EBITDA for the fiscal year ended June 30, 2025.

The facility operates on 100% renewable hydroelectric energy at a cost below $0.035 per kilowatt-hour. The site has regulatory approval potential for an additional 40MW expansion, which would bring total capacity to over 80MW.

VivoPower funded the transaction without additional public equity raising. The company originally announced the exclusive heads of agreement for this acquisition on December 30, 2025.

"We are pleased to have completed this transformational transaction, securing a strategic and income-producing data center asset at a disciplined 4x EBITDA multiple," said Kevin Chin, Executive Chairman and CEO of VivoPower.

The acquired facility's revenue derives from contracted infrastructure and hosting arrangements based on historical financial records. VivoPower stated it is in discussions with potential tenants regarding AI computing applications.

VivoPower operates as a B Corp-certified developer of data center infrastructure across Norway, Finland, and the United Arab Emirates. The company has been listed on Nasdaq since 2016.