VivoPower Repays $28.8M Founder Loan Ahead of Expansion in Nordic Data Centre Market
VivoPower has repaid the full principal amount of a $28.8 million shareholder loan owed to AWN Holdings, controlled by its founder and CEO Kevin Chin. The repayment involved converting $16.5 million into convertible preference shares as part of a recent private placement and paying off the remaining balance in cash. This action simplifies VivoPower’s capital structure ahead of an expansion phase focused on building AI data centres in Norway and Finland. The company is leveraging Nordic countries' low-cost renewable energy and favorable climate to develop high-capacity computing infrastructure, positioning itself as a strategic partner for sovereign states seeking control over power and data. The repayment was approved by the audit committee due to its related-party nature but priced fairly with external investors. This move strengthens VivoPower’s balance sheet, facilitating future capital raises. VivoPower has shifted focus from solar and EVs to infrastructure development in recent years, now operating across Norway, Finland, and the UAE.
Topics: capital structure simplification debt settlement related party transaction