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.
VivoPower International PLC (Nasdaq: VVPR) has entered a partnership with Tottenham Hotspur as its Official Battery Technology Partner until the end of the 2021/22 season. This unique collaboration aims to support the football club's commitment to achieving net zero carbon status. VivoPower is set to review the club's stadium and training center, proposing a sustainable energy solution, including a solid-state battery and solar panels. The partnership highlights Tottenham's dedication to sustainability, recognized as the Premier League's greenest club and a participant in the UN Sports for Climate Action Framework.
VivoPower International PLC (NASDAQ: VVPR) announces the appointment of Hugh Durrant-Whyte to its Advisory Council, marking the completion of its six-member team. Durrant-Whyte, a prominent figure in robotics and automation, has an extensive background, including roles as Chief Scientist in New South Wales and Chief Scientific Advisor to the UK Ministry of Defence. His expertise is expected to enhance VivoPower's efforts in deploying Tembo electric vehicles and sustainable energy solutions, particularly within the mining sector, as noted by CEO Kevin Chin.
VivoPower International PLC (NASDAQ: VVPR) has sold its majority stake in the Daisy Hill Solar Farm, a 6.3 MW-DC solar project in New South Wales, Australia, to IT Power (Australia) Pty Ltd. The transaction yielded a 2.1x return on VivoPower’s invested capital. CEO Kevin Chin stated that this sale aligns with the company’s new focus on customer-centric sustainable energy solutions, including renewable generation and battery storage. The completion of the project is now entrusted to ITP Renewables, with expectations of successful delivery.
VivoPower International (Nasdaq: VVPR) will report its half-year results for the period ending December 31, 2020, on February 24, 2021, at 16:00 EST. An accompanying earnings conference call, led by CEO Kevin Chin, is scheduled for the same day at 16:30 EST. Interested parties can access the live audio call via specified dial-in numbers, and a webcast will be available on VivoPower's website, with the replay accessible for one year.
VivoPower specializes in sustainable energy solutions, focusing on battery technology and electric vehicles.
LONDON, Jan. 27, 2021 (GLOBE NEWSWIRE) -- VivoPower International PLC (NASDAQ: VVPR) announces the completion of electrical works for the 39 MWdc Molong Solar Farm in New South Wales, Australia. This project will generate about 78,000 MWh of annual clean energy, powering approximately 11,000 homes and displacing over 53,000 tonnes of CO2 emissions yearly. J.A. Martin, its subsidiary, has now worked on over 150 MWdc of solar farms in Australia in the past three years, underscoring its growth in solar solutions.
VivoPower International has entered a landmark agreement with GB Auto Group to enhance electric vehicle (EV) distribution in Australia, particularly for the Tembo electric Toyota Land Cruiser and Hilux. This deal is touted as the most significant in Australasia's EV sector, potentially generating US$250 million in revenue over four years. GB Auto is expected to order at least 2,000 Tembo conversion kits within the first four years. The partnership will also explore applications in mining and other industries.
VivoPower International PLC (NASDAQ: VVPR) announced it was ranked 47th on the 'Top Impact Companies' list of 2021 by Real Leaders, recognized for its sustainability efforts and B Impact Assessment score. The award highlights VivoPower's commitment to generating sustainable energy solutions. Alongside other notable companies like Tesla and Beyond Meat, VivoPower aims to address global challenges while promoting profitability. This award reflects the growing recognition of business models that prioritize positive societal impact.
VivoPower International PLC (NASDAQ: VVPR) has successfully refinanced its debt with major shareholder AWN Holdings Limited. The outstanding loan of US$23.3 million, initially due by March 31, 2022, now matures on June 30, 2026. VivoPower will make an initial payment of US$2.19 million within 14 days, followed by 60 monthly installments starting July 1, 2021. The interest rate has been reduced from 12% to 8.8% per annum, reflecting improved creditworthiness and supporting VivoPower’s growth in sustainable energy solutions.
VivoPower International PLC (NASDAQ: VVPR) announces that Executive Chairman Kevin Chin will receive his chairman's fee entirely in the form of restricted stock units (RSUs) equivalent to 7,788 shares, reflecting a market adjustment. Other non-executive directors are also opting for RSUs instead of cash for their adjusted fees, totaling 7,788 shares each. Chin expressed intentions to further increase his stock ownership during future trading windows, indicating confidence in the company's outlook.
VivoPower International PLC (NASDAQ: VVPR) and its subsidiary, Tembo e-LV B.V., have entered into a non-binding Heads of Agreement with GB Auto Group in Australia. The Proposed Agreement aims to establish GB Auto as the exclusive distributor for Tembo's electric vehicles and conversion kits over a seven-year term. GB Auto commits to purchasing at least 500 conversion kits in the first year, totaling approximately USD$250 million in revenue. VivoPower will also partner with GB Auto for sustainable energy solutions, enhancing its market position in the electric vehicle sector.
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