The Nasdaq‑listed sustainability firm announced on October 2 that it had raised $19 million through an equity offering priced at $6.05 per share.
This represented a 34 % premium over the prior day’s closing price of $4.50. This deal signaled strong confidence from institutional investors in the company’s digital asset strategy.
VivoPower added that proceeds from the funding will be used to expand its XRP holdings and reduce debt.
The announcement sparked a sharp rally in the VivoPower stock VVPR, which climbed 14 % to close at $5.13, giving the firm a market value of about $52 million. XRP also saw upward growth, trading at $2.97, up 3.2 % over the past day, according to CoinMarketCap data.
VivoPower Expands Digital Asset Strategy with New Funding and Ripple Deals
This latest raise builds on a $121 million private placement completed in May.
This funding round was led by Prince Abdulaziz bin Turki bin Talal Al Saud, chairman of Eleventh Holding Company in Saudi Arabia. The placement also brought in Adam Traidman, a former Ripple board member, who has since become chairman of VivoPower’s advisory board.
In a separate move in August, the Nasdaq‑listed clean energy company struck agreements to purchase $100 million worth of Ripple Labs’ private shares at a discounted price. If completed, this deal would give the company exposure to around 211 million XRP at a steep discount to market prices.
Following this, VivoPower partnered with Doppler Finance to invest $30 million in XRP, with a target of $200 million. The aim is to maximize returns and reinvest for long‑term growth.
Expanding the XRP Ecosystem Strategy
VivoPower has been building out multiple channels to deepen its involvement with XRP. Its mining subsidiary, Caret Digital, announced that all mined cryptocurrencies, including Bitcoin (BTC), Litecoin (LTC), and Dogecoin (DOGE), will be converted into XRP. According to the company, this allows it to secure tokens at lower effective costs compared to direct market purchases.
The company is also working with BitGo as its exclusive custodian and trading partner. At the same time, it has partnered with Ripple‑backed blockchain developer Flare to generate yield on its holdings. The company is starting this program with a $100 million allocation that will be reinvested into XRP reserves.
With its growing list of partnerships, asset purchases, and yield programs, VivoPower appears to be positioning itself as one of the most active corporate players in the XRP ecosystem.