VivoPower has selected a global AI industry leader as its preferred AI tenant for the Mo i Rana facility
Experienced Mo i Rana-based contractor Øijord & Aanes Entreprenørforretning AS engaged to deliver conversion site works in accordance with relevant permits and licenses
Enabling works and main building superstructure to be delivered by Mo i Rana-based contractors, ahead of full mechanical and electrical fit-out by a specialist data center EPC firm
VivoPower committed to engaging as many local suppliers and contractors as possible at Mo i Rana and plans to do the same at other future AI data center facilities globally
VivoPower is also working to reuse waste heat from the AI data center for productive purposes in line with its Power-to-X strategy
LONDON, UK / MO I RANA, NORWAY, Oct. 12, 2026 (GLOBE NEWSWIRE) -- VivoPower PLC (Nasdaq: VIVO) ("VivoPower" or the "Company"), a leading B Corp-certified global developer and owner of powered land and data center infrastructure for AI compute applications, today announced the mobilization of construction for the conversion of a 40MW first phase AI data center at its Mo i Rana facility in northern Norway. The Company also confirmed that the site works package will be delivered by experienced Mo i Rana-based contractors, Øijord & Aanes Entreprenørforretning AS, who have been operating in the region for more than 60 years.
Demolition, enabling works and the main building superstructure, amongst other elements, will be delivered by local Mo i Rana contractors, in accordance with applicable Norwegian planning and building regulations. These work packages will be completed in advance of the full mechanical and electrical fit-out of the facility, for which VivoPower has conducted a tender review process with leading international data center supply chain partners. The Company expects to award and announce this contract shortly and will update accordingly.
The design and delivery of the AI data center conversion will be in accordance with the AI tenant’s requirements. In addition, VivoPower is engaged with local industry on Power-to-X use cases, including the use of waste heat to support and promote local industry and community growth. Further details will be shared at the appropriate time.
Commitment to the Mo i Rana Supply Chain
VivoPower is committed to using as many local Mo i Rana suppliers and contractors as possible throughout the delivery of the project.
In addition to Øijord & Aanes Entreprenørforretning AS, the Company has already engaged with other local contractors, including:
- IMTAS – a Mo i Rana-based provider of engineering, fabrication, installation and maintenance services across industry, construction and energy, operating from Mo Industripark; and
- TH Blikk AS – a Mo i Rana-based building, façade and roofing contractor with more than 15 years of experience and a team of 64 employees.
By prioritizing local contractors, VivoPower aims to support employment, skills development and economic activity in the Rana region. It will also draw on the industrial expertise built up in the Mo i Rana industrial precinct over many decades.
VivoPower completed the acquisition of the operational Mo i Rana data center on April 21, 2026, and amongst other things has enrolled 30MW of the existing facility in grid balancing services, which provide support to the stability of the regional power grid.
Commitment to Power-to-X Use Cases
VivoPower’s Power-to-X strategy is focused on securing the highest and best use of every megawatt of its power infrastructure. At Mo i Rana, that extends beyond AI compute to the heat the facility generates and the flexibility it can offer the Norwegian power system.
The 40MW AI data center conversion is being designed with the aim of capturing waste heat from its cooling systems for productive reuse, subject to technical and commercial feasibility. VivoPower is working with a local district heating provider and European specialist firms to evaluate how that heat could be used. This includes supplying district heating to homes, businesses and community organizations in Mo i Rana and supporting the growth of heat-intensive local industries, including but not limited to land-based aquaculture and greenhouse food production.
Mo i Rana is well placed for this and reusing heat from the AI data center would build on that established model of industrial symbiosis. No definitive agreements have been entered into as yet in relation to heat reuse or other Power-to-X use cases, but VivoPower will provide further details as arrangements are finalized.
Shane Whelan, Chief Real Estate Officer of VivoPower, said: "We have deliberately engaged with the local construction supply chain, and we are delighted to be working with Mo i Rana firms such as Øijord & Aanes, IMTAS and TH Blikk. Their skills and local knowledge will be invaluable as we move from site works towards the mechanical and electrical fit-out phase. We remain committed to delivering on a ready-for-service (RFS) date as expeditiously as possible but without compromising quality and safety given the long-duration nature of the infrastructure asset being built."
Stein Rune Øijord, Chief Executive Officer of Øijord & Aanes, said: “Øijord & Aanes looks forward to a strong and close collaboration with VivoPower. We are proud to contribute to an exciting project that creates new opportunities for Mo i Rana.”
Tommy Høgås, Chief Executive Officer of TH Blikk AS, said: “Blikk looks forward to the opportunity for a strong and exciting collaboration with VivoPower in the years ahead. New development is positive for the local community, and we recognize the wider benefits it will bring to other local businesses. We are grateful for the opportunity to be involved in this project and strongly believe in its potential – both for the stakeholders involved and for the city as a whole. We look forward to contributing and achieving great results together.”
About VivoPower
Originally founded in 2014 and listed on Nasdaq since 2016, VivoPower is an award-winning B Corporation with data center and powered land infrastructure across Norway, Finland, and the United Arab Emirates. The Company’s mission is to be the independent, trusted partner for sovereign nations that develop and operate sustainable data center infrastructure, ensuring sovereign control over power, data, and national intelligence. In doing so, VivoPower helps sovereign nations bridge the gap between their energy assets and their AI ambitions by providing the Power-to-X infrastructure necessary to build and control their own domestic intelligence hubs.
Forward-Looking Statements
This communication includes certain statements that may constitute "forward-looking statements" for purposes of the U.S. federal securities laws. Forward-looking statements include, but are not limited to, statements that refer to projections, forecasts, or other characterizations of future events or circumstances, including any underlying assumptions. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intends," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements in this communication include, for example, statements about the mobilization, timing, sequencing and completion of demolition, enabling and superstructure works; the expected timing of the award and announcement of the mechanical and electrical fit-out contract; the design, delivery, cost and ready-for-service date of the 40MW AI data center conversion; the engagement of local and international contractors and suppliers; the finalization of tenant agreements; the potential reuse of waste heat and other Power-to-X use cases; participation in grid-balancing services; and the anticipated economic benefits to the Mo i Rana region.
These statements are based on VivoPower's management's current expectations or beliefs and are subject to risk, uncertainty, and changes in circumstances. There is no certainty that the 40MW AI data center conversion will be completed on the timeline currently anticipated, within the currently estimated budget, or at all. Actual results may vary materially from those expressed or implied by the statements herein due to risks, uncertainties and contingencies including: (i) delays in obtaining, or failure to obtain, the demolition license, the Rana kommune building permit, grid connection and energization approvals or other regulatory approvals, or the grant of such approvals on different terms or conditions; (ii) construction, contractor and supply chain risks, including contractor performance, labor availability, weather and site conditions; (iii) cost overruns and fluctuations in the prices of materials, equipment, labor and energy; (iv) the risk that the mechanical and electrical fit-out contract is not awarded on the expected timing or terms, or at all; (v) delays in AI hardware procurement; (vi) the risk that the tenant breaches or defaults on its definitive lease agreements; (vii) the risk that waste heat reuse and other Power-to-X use cases do not prove technically or commercially feasible, and that no definitive agreements are entered into in relation to them; (viii) changes in economic, business, competitive and/or regulatory factors, geopolitical events and general market volatility; and (ix) other factors set forth in VivoPower's filings with the United States Securities and Exchange Commission. The information set forth herein should be read in light of such risks. VivoPower is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, changes in assumptions or otherwise.
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