VivoPower Raises $121M to Launch XRP-Focused Treasury Strategy with Backing from Saudi Royalty
VivoPower International (NASDAQ: VVPR), a Nasdaq-listed energy company, announced on Wednesday its strategic shift into digital assets, revealing a $121 million private placement to fund a new corporate treasury model centered on XRP, the world’s fourth-largest cryptocurrency by market cap.
The bulk of the funding comes from Saudi Prince Abdulaziz bin Turki Abdulaziz Al Saud, who is investing $100 million through his firm, Eleventh Holding Company, according to a company spokesperson speaking to CoinDesk. The offering will see VivoPower issue 20 million shares at $6.05 each, as disclosed in a recent SEC filing.
As part of the transition, Adam Traidman, former executive at SBI Ripple Asia, will join VivoPower as chairman of the advisory board. Traidman’s experience in Ripple’s enterprise blockchain ecosystem strengthens the company’s strategic focus on the XRP Ledger (XRPL).
The market reacted swiftly to the news, with VivoPower shares jumping as much as 26% intraday before settling with an 11% gain, trading around $6.75.
A First-Mover Bet on XRP
While several public firms have adopted digital asset treasury models — most notably MicroStrategy (MSTR) with its Bitcoin-heavy strategy — few have ventured beyond BTC. However, a wave of diversification is emerging: firms like DeFi Development and SharpLink Gaming have recently added Solana (SOL) and Ethereum (ETH) to their balance sheets.
VivoPower is aiming to take that trend one step further by becoming the first publicly traded company to anchor its treasury on XRP. The company also plans to divest its legacy energy business, signaling a full-scale pivot into the crypto space.
Prince Abdulaziz underscored the long-term vision behind the investment:
“After reviewing several listed entities exploring digital asset treasury strategies, we chose VivoPower for its clear commitment to XRP and its mission to support the XRPL ecosystem,” he said in the joint press release and SEC filing. “We’ve been digital asset investors for over a decade and long-term holders of XRP.”
Founded in 2014, VivoPower’s move could mark a turning point in how traditional companies integrate blockchain assets, particularly those aligned with Ripple’s infrastructure, into their corporate strategy.
