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VivoPower International PLC (NASDAQ: VVPR) is a global leader in sustainable energy solutions, specializing in the development, building, and operation of solar power projects. The company aggregates photovoltaic (PV) solar projects under long-term power purchase agreements and then manages corporate and project financing, engineering design, equipment procurement, and construction. VivoPower operates through several segments, including Solar Development, Critical Power Services, Sustainable Energy Solutions, and Electric Vehicles, with the majority of its revenue coming from Critical Power Services, primarily in Australia.
Recent Achievements and Current Projects
VivoPower's subsidiary, Tembo e-LV B.V. ("Tembo"), recently secured a follow-on strategic equity investment of USD 5 million, affirming the company's robust financial health and growth prospects. Tembo focuses on electric utility vehicles (EUVs) for fleet owners in sectors like mining, agriculture, and government. VivoPower continues to retain a majority stake in Tembo, which recently met milestones for a final follow-on investment.
Another exciting development involves Tembo's joint venture with Francisco Motor Corporation in the Philippines, which has secured 1,300 order commitments for electric jeepneys, valued at an estimated USD 30 million. This initiative aims to modernize the Philippines' jeepney industry, aligning with VivoPower's mission to provide sustainable energy solutions globally.
Moreover, VivoPower has begun delivering next-generation EUV powertrain conversion kits to its Canadian distributor, Access Industrial Mining Inc. These kits convert diesel-powered 4x4 LandCruiser and Hilux vehicles into electric utility vehicles, supporting corporate clients in achieving their net-zero carbon goals.
About VivoPower
VivoPower is an award-winning B Corporation dedicated to providing turnkey decarbonization solutions for its clients. The company operates in multiple countries, including Australia, Canada, the Netherlands, the United Kingdom, the United States, the Philippines, and the United Arab Emirates. VivoPower's core purpose is to facilitate the transition to net-zero carbon status for its customers through innovative, sustainable energy solutions.
Financial Condition and Partnerships
VivoPower's financial health is bolstered by strategic investments and partnerships. The company has a strong presence in Australia, generating most of its revenue from this region. Recent equity investments and joint ventures highlight its commitment to sustainable growth and innovation.
As of the first half of 2024, VivoPower's financial results are preliminary but reflect a stable and promising outlook. The company continues to attract significant investments, further supporting its ambitious projects and long-term objectives.
For more detailed and the latest updates on VivoPower International PLC, visit their official website or follow their NASDAQ profile.
VivoPower International (Nasdaq: VVPR) announced that its subsidiary, Tembo e-LV, will receive 25 Tusker electric utility vehicles in Sydney, Australia by February 2025. The delivery includes next-generation models with enhanced features such as electronic park braking, uphill drive assistance, fixed speed cruise control, and a 12.3-inch center console screen.
The Tusker vehicles, which received full Australian Federal Government vehicle type approval (VTA) in November 2024, come with a 3-year OEM warranty and 8-year battery warranty from CATL. All 25 vehicles have been pre-allocated due to strong customer demand. Tembo is assisting fleet owners in securing NSW government fleet incentives of up to A$15,000 per vehicle.
The VTA approval is important for the Australasian pick-up truck market, estimated at US$10 billion, as it ensures compliance with safety, environmental, and anti-theft standards for public road use.
VivoPower International (Nasdaq: VVPR) announced that its subsidiary, Caret Digital, has started Dogecoin mining operations in Wisconsin using Antminer L9 rigs. Based on current market conditions, Caret Digital could potentially generate annual revenues of up to $25 million and cash EBITDA of up to $12 million, though these figures are subject to price and cost volatility.
The company plans to sell most of the mined Dogecoin rather than hold them. Any free cashflow will be reinvested into VivoPower's Tembo e-LV business. Additionally, Caret Digital is developing up to 55MW of renewable-powered mining capacity for Dogecoin and Litecoin mining, which could potentially generate revenues of up to $150 million annually based on current market conditions.
VivoPower International's subsidiary Caret Digital has secured a CAD$140 million (approximately US$100m) binding investment commitment from GEM Global Yield SCS (GGY). The investment, structured as a share subscription facility, requires Caret Digital to list on a Canadian stock exchange, with GGY's shareholding capped at 9.9%.
The funds will be invested at the Caret Digital subsidiary level, avoiding dilution for VivoPower shareholders. The investment will support Caret Digital's Power-to-X (P2X) strategy, which includes two phases: first, building data centre infrastructure for DOGE coin mining, and second, developing AI-enabled data centres. VivoPower shareholders previously approved a spin-off of Caret Digital and a special dividend during the December 2023 Annual General Meeting.
VivoPower International PLC (VVPR) has been recognized among the Real Leaders Top Impact Companies for 2025, marking its fifth consecutive year on the list. The company earned this distinction among over 300 applicants from 15+ countries, evaluated on growth, revenue, and six I.M.P.A.C.T. pillars: Intention, Model, People, Accountability, Collaboration, and Transformation.
As a certified B , VivoPower specializes in sustainable energy solutions, including electric vehicle fleet solutions, renewable energy systems, and energy storage solutions. The 2025 competition implemented stricter criteria, including higher revenue thresholds and more rigorous impact evaluations, highlighting companies that demonstrate authentic leadership and purposeful business practices.
VivoPower International PLC (Nasdaq: VVPR) held its annual general meeting on December 30, 2024, where shareholders voted on six key resolutions. All resolutions received strong approval, with voting percentages ranging from 92% to 99%. The approved measures included: the receipt of accounts and reports for FY2024, the directors' remuneration report, the re-appointment of PKF Littlejohn LLP as auditors, authorization for the audit committee to determine auditor remuneration, the extension of William Langdon's term as Class A director until 2027, and authorization for the company to proceed with strategic mergers or divestments.
VivoPower International PLC (VVPR) has successfully filed its 2024 Annual Report on Form 20-F on December 19, 2024, following the completion of its independent audit for the year ended June 30, 2024. The filing remedies previous non-compliance with Nasdaq listing requirements, specifically Rule 5250(c)(1). The company attributed the delay in filing to significant strategic changes, including business unit divestitures.
VivoPower International PLC (VVPR) has successfully regained compliance with Nasdaq's Listing Rule 5550(a)(2) on December 10, 2024. The company received official notification from Nasdaq's Listing Qualifications Department confirming that its common stock maintained a minimum bid closing price of $1.00 per share or greater for 10 consecutive business days, meeting the exchange's minimum bid price requirement.
VivoPower International (NASDAQ: VVPR) announced that its subsidiary, Caret Digital, has secured an asset-backed financing facility to acquire up to 1,000 Antminer L9s for DOGE coin mining. The mining equipment, expected for delivery from December 2024, will have a total hash rate of approximately 17,000 GH/s. Based on current DOGE coin prices and power costs of 8c/watt, this initial fleet has the potential to generate annual revenues of up to US$25 million. The financing facility is non-dilutive to VivoPower shareholders.
VivoPower International (NASDAQ: VVPR) has announced its upcoming Annual General Meeting scheduled for December 30, 2024, at 1:00 p.m. London time, to be held at the company's London offices.
The AGM agenda includes key resolutions such as the presentation of annual accounts and reports, directors' remuneration report, auditor-related matters (re-appointment and remuneration), extension of William Langdon's directorship, and approval for potential mergers or divestments.
Shareholders will receive formal AGM notice, proxy forms, and dial-in details within the statutory notification period.
VivoPower International's subsidiary Tembo has announced the launch of its EUV25 EPower conversion kit for Landcruisers at Automechanika Dubai 2024, taking place from December 10-12 at the Dubai World Trade Centre. The kit is specifically designed for rugged off-road terrain and heavy payload conditions.
Tembo will collaborate with UAE-based ONE MOTO at the event, which is the largest automotive aftermarket show in the Middle East, Africa, and South Asia region. The show will feature over 2,200 exhibitors from 161 countries across 17 halls, with an estimated 60,000 attendees. The EUV25 builds on the Land Cruiser LC70's design, which is particularly popular in the UAE and GCC region for industries like oil exploration, agriculture, and logistics.
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