Welcome to our dedicated page for VivoPower International PLC news (Ticker: VVPR), a resource for investors and traders seeking the latest updates and insights on VivoPower International PLC stock.
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.
On June 23, 2021, VivoPower International PLC (NASDAQ: VVPR) announced that Executive Chairman and CEO Kevin Chin has increased his stake by 328,888 shares, equating to approximately 1.8% of total issued shares. This acquisition was facilitated through the election of VivoPower shares due to a default loan obligation settlement with Arowana Partners Group and through market purchases during an open trading window. VivoPower is committed to sustainable energy solutions, focusing on battery storage, electric fleet applications, and solar technology.
VivoPower International PLC (NASDAQ: VVPR) has secured a five-year exclusive manufacturing collaboration with Toyota Australia to electrify Land Cruiser vehicles, integrating VivoPower's conversion kits into the manufacturing process. This partnership, stemming from two years of field trials, is seen as a significant milestone, potentially leading to revenues of €268.5 million by delivering at least 4,475 conversion kits to major mining markets. Analysts project that by 2025, VivoPower could sell 5,000 kits annually, with a projected share value of $19, following strong endorsement from Toyota.
VivoPower International PLC (NASDAQ: VVPR) has entered a binding Letter of Intent with Toyota Motor Corporation Australia to collaborate on the electrification of Toyota Landcruiser vehicles using conversion kits from its subsidiary, Tembo e-LV B.V. The deal aims to finalize a Master Services Agreement, granting VivoPower exclusive rights to electrify the Landcruiser 70 model for five years, with a possible two-year extension. This partnership highlights the potential of Tembo's technology in decarbonizing rugged industries and advancing customer sustainability goals.
VivoPower International PLC has signed a definitive agreement with Acces Industriel Mining Inc. for the distribution of electric vehicle conversion kits in Canada. Over the next five years, Acces plans to purchase 1,675 Tembo e-LV kits, estimated to generate US$120 million in revenue. The partnership aims to provide ruggedized electric light vehicles for mining and other sectors, supporting corporate decarbonization efforts. This deal builds on VivoPower's previous agreement with GB Auto Group and is part of a broader plan to establish a global distribution network.
VivoPower International PLC (NASDAQ: VVPR) has entered a non-binding Heads of Terms with Arctic Trucks Limited for the purchase of 800 electric light vehicle conversion kits from its subsidiary, Tembo e-LV B.V. The proposed agreement, valued at approximately US$58 million, spans over the next 5½ years and aims to convert diesel vehicles into electric light vehicles for rugged applications in Nordic countries. This marks VivoPower's third major distribution deal this year, expanding its global distribution network for Tembo products.
VivoPower International PLC (NASDAQ: VVPR) released a white paper titled "Assessing Total Cost of Ownership of Electric Light Commercial Vehicles," aimed at helping fleet owners evaluate the economic benefits of transitioning to electric light commercial vehicles (e-LVs). With the fleet segment being one of the largest in the market, this report underscores the environmental advantages of reducing diesel dependency. VivoPower's subsidiary, Tembo, provides solutions for converting diesel vehicles into e-LVs, catering to sectors like mining and construction. The white paper will be regularly updated as technology and data evolve.
VivoPower International PLC (NASDAQ: VVPR) has entered a non-binding agreement with Canadian distributor Acces Industriel Mining Inc. to purchase 1,675 Tembo electric vehicle conversion kits by December 2026, valued at approximately US$120 million. This deal follows a previous agreement with GB Auto in January 2021. The Tembo kits convert diesel Toyota vehicles for mining and hard-to-decarbonize sectors. VivoPower aims to finalize this agreement before June 30, 2021, and to establish a global distribution network by the end of 2021.
VivoPower International PLC (NASDAQ: VVPR) announced its participation in Oppenheimer's 6th Annual Emerging Growth Conference, scheduled for May 11-12, 2021. The virtual event will feature one-on-one and small group meetings with over 50 emerging companies across the Technology, Industrial Growth, and Consumer sectors. Executive Chairman Kevin Chin and Executive Director Matt Cahir will lead investor meetings on May 12. VivoPower focuses on sustainable energy solutions, aiming to provide decarbonization solutions for customers globally.
On May 4, 2021, VivoPower International PLC (NASDAQ: VVPR) announced the appointment of Jos van der Linden as Managing Director (Netherlands) for its electric light vehicle division, Tembo e-LV B.V. Van der Linden brings over a decade of experience in vehicle electrification and renewable energy solutions. His expertise includes battery technology and sustainable energy applications. Executive Chairman Kevin Chin expressed confidence in Van der Linden’s leadership to drive growth in Tembo, which aims to support customers in achieving net-zero emissions and reducing operational costs.
VivoPower International PLC (NASDAQ: VVPR) has appointed James Howell-Richardson as General Counsel, enhancing its leadership team. Mr. Howell-Richardson brings a decade of experience from NYSE-listed Bristow Group Inc., where he oversaw legal functions and managed complex corporate restructures. Executive Chairman and CEO Kevin Chin stated that James’s strategic and legal expertise will significantly support VivoPower's objectives. The company focuses on sustainable energy solutions, aiming to help customers achieve net-zero carbon goals.
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