Major investment: Up to $900 million in convertible bonds
Strategic infrastructure: 260 MW high-capacity data center validated by KEPCO
METAVISIO's contribution: GPU supply and technical expertise
Dammarie-les-Lys, Greater Paris - France, March 24, 2025 - METAVISIO - THOMSON Computing (Euronext Paris - ticker: ALTHO), a recognized French and European player in technological and IT solutions, announces a strategic partnership with BKB Energy Co., Ltd. (BKB) to develop a large-scale data center in South Korea.
This initiative follows the Memorandum of Understanding (MoU) signed between BKB and METAVISIO's subsidiary, TECHNOLOGY1-THOMSON Computing Korea, for the development of a 260 MW data center in Yeongwol-gun, validated by Korea Electric Power Corporation (KEPCO). The feasibility study and environmental assessment are already in progress.
A Strategic Expansion for METAVISIO - THOMSON Computing
As the only European IT brand with a global presence, METAVISIO - THOMSON Computing has been expanding its IT offerings since mid-2024. This includes the development of a server range and the reinforcement of partnerships with data center infrastructure specialists. This initiative aligns with its hardware expertise and addresses the increasing demand for AI and cloud computing solutions.
As part of this strategic collaboration, METAVISIO will contribute to the project in two key areas:
- Technological Contribution:
- METAVISIO will supply strategic components, including GPUs and CPUs, which are essential for high-performance data centers.
- The company leverages its strong supplier network, including a recent contract with Turboscale, an official distributor of NVIDIA GPU/CPU solutions and a recognized player in the server industry.
- Creation of a Dedicated Subsidiary :
- A new entity, TECHNOLOGY1-THOMSON Computing Korea, will be established to manage the project in a structured and independent framework.
- This subsidiary will be a joint venture equally owned by METAVISIO and BKB Energy, ensuring a clear and efficient governance model.
A Secure and Structured Financial Approach
- The project will be fully financed by BKB Energy through convertible bonds exclusively allocated to TECHNOLOGY1-THOMSON Computing Korea.
- METAVISIO's equity structure will remain unaffected, as the financing is exclusively directed at the non-listed South Korean subsidiary.
- The subsidiary will place recurring orders with METAVISIO over several years, with all working capital requirements covered by TECHNOLOGY1-THOMSON Computing Korea.
Rigorous Due Diligence Before Final Investment
Before making any definitive investment, BKB Energy and TECHNOLOGY1-THOMSON Computing Korea will conduct an in-depth due diligence phase, including:
- Regulatory analysis: Review of permits, land acquisitions, and legal requirements.
- Financial assessment: Evaluation of construction costs, funding structure, and expected profitability.
- Energy supply agreement: Examination of KEPCO's contract and energy optimization plan.
- Construction and operation strategy: Selection of subcontractors, project timeline, and risk management.
- Legal and contractual framework: Analysis of commitments and investment protection mechanisms.
BKB Energy will provide all necessary documents for TECHNOLOGY1-THOMSON Computing Korea to finalize its analysis and negotiate the definitive investment contract within three months
A Key Milestone in METAVISIO's U.S. Listing Process
This initiative aligns with METAVISIO's strategic growth plan and technological expansion while maintaining its financial and operational stability. Moreover, it strengthens METAVISIO's position as it prepares for a U.S. stock market listing in 2025, in collaboration with ARC Group Limited.
"This partnership with BKB Energy represents a significant step forward in our expansion strategy. By contributing our expertise in high-performance computing, we are helping to develop an innovative and sustainable data center in South Korea. At the same time, this initiative strengthens our long-term technological positioning and global presence." - Stephan Français, President of METAVISIO - THOMSON Computing
"We are delighted to collaborate with METAVISIO on this high-impact project, which combines energy expertise with technological innovation. This partnership marks a major milestone in the development of digital infrastructure in South Korea." - Si Woo Chung, President of BKB Energy Co., Ltd.
About BKB Energy Co., Ltd
BKB Energy Co., Ltd is a South Korean company specializing in high-capacity energy infrastructure development and supply. Headquartered in Gyeonggi-do, South Korea, BKB operates across Asian and international markets, providing energy solutions for industrial, technological, and data center sectors. With a strong commitment to innovation and sustainability, the company actively invests in renewable energy and high-efficiency power distribution.
BKB Energy manages a diverse portfolio worth several hundred million dollars, securing long-term supply contracts with major industrial players.
For more information: www.bkbkorea.com
About METAVISIO-THOMSON Computing
METAVISIO - THOMSON Computing (FR00140066X4; ticker symbol: ALTHO) is a French company specializing in the research and development of IT, hardware, and software solutions under the THOMSON brand. Founded in 2013, METAVISIO - THOMSON Computing offers a range of products featuring "the latest technologies at the best price."
For more information: www.metavisio.eu
Press & Investor Relations Contact: Gabriel Rafaty - metavisio@aimpact.net
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