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Investing.com -- VivoPower International PLC (NASDAQ:VVPR) stock jumped 12.9% in Monday’s premarket trading after announcing a partnership with South Korean weather data company Kweather.
VivoPower signed a non-binding heads of agreement with KOSDAQ-listed Kweather, with plans to invest $5 million for approximately 20% stake in the company. The companies aim to finalize a definitive agreement by November 30, 2025.
Through this partnership, VivoPower’s Vivo Federation division will become Kweather’s exclusive crypto and tokenization partner. The collaboration will focus on developing the world’s first WeatherCoin token for climate risk management applications.
Kweather, founded in 1997 and publicly listed since 2024, is South Korea’s largest weather data provider with approximately 90% market share in the country’s weather industry. The company plans to use VivoPower’s investment to purchase VivoPower shares and position itself as South Korea’s first and only public company providing exposure to XRP and potential Ripple Labs shares.
As part of the deal, VivoPower will secure two out of five seats on Kweather’s board of directors, becoming the company’s second-largest shareholder.
The partnership aligns with VivoPower’s recently launched Vivo Federation division, which aims to extend the company’s Digital Asset Treasury strategy globally through strategic acquisitions of public companies outside the United States.
The agreement remains subject to the companies entering into a definitive agreement and meeting customary closing conditions.
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