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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 PLC (NASDAQ: VVPR) has announced the publication of its first quarterly newsletter, covering key financial and operational developments for the quarter ended March 31, 2022. The newsletter aims to keep investors informed, with plans for future editions following quarterly periods when half-year or full-year results are not communicated. VivoPower focuses on sustainable energy solutions, including battery storage and solar technology, aiming to help clients achieve net zero carbon status. The newsletter is accessible on the company's Investors section of its website.
VivoPower International PLC (NASDAQ: VVPR) announced that A.G.P./Alliance Global Partners has initiated research coverage with a 'Buy' recommendation and a price target of $5.00 per share. The report, authored by Jeffrey Campbell, highlights the company's commitment to sustainable energy solutions, including battery storage and solar technology. Although the company did not participate in the report's preparation and does not endorse its content, the positive rating may influence investor sentiment. VivoPower operates globally and is a certified B Corporation.
VivoPower International PLC (NASDAQ: VVPR) has been invited to present at the Alliance Global Partners Virtual Energy Conference on April 6, 2022. The Company’s Executive Chairman and CEO, Kevin Chin, along with Managing Director, Matt Davis, will be available for one-on-one investor meetings. VivoPower focuses on sustainable energy solutions, including battery storage and solar technology, aiming for net zero carbon status. The Company operates in multiple countries, including Australia and the USA.
VivoPower International PLC (NASDAQ: VVPR) reported an 11% decline in group revenue to $18.9 million for the half year ended December 31, 2021, primarily due to strict COVID-19 lockdowns in key markets, particularly Australia. Gross profit dropped 85% to $0.5 million, with a gross profit margin reduced to 3%. The underlying adjusted EBITDA loss was $4.9 million, down from a profit of $1.2 million in the prior period. Despite these challenges, the company secured full ownership of its US solar joint venture, rebranded it as Caret, and launched a cryptocurrency mining venture, Caret Decimal.
VivoPower International PLC (NASDAQ: VVPR) announced the relocation of its wholly-owned subsidiary, Kenshaw Electrical Pty Limited, to a new 10,000 square meter facility in Cardiff, New South Wales. The move represents an 85% increase in workshop and office space, now totaling 2,763 square meters. This modern facility enhances Kenshaw's capacity to serve clients in various industries, including data centers and healthcare. General Manager Adam Malcolm noted that the relocation aims to meet growing demands and expectations as market recovery begins following COVID-19 disruptions.
VivoPower International PLC (NASDAQ: VVPR) has announced the expansion of its subsidiary, Tembo e-LV B.V., to a new 29,795 square foot facility in Eindhoven, increasing their space by 113%. This move, effective May 1, 2022, is designed to enhance their capacity for developing and assembling electric light vehicle kits. Tembo's e-LV conversion kits have seen significant global demand, with partnerships established across six continents. The Eindhoven area is a key automotive hub, providing access to talent and resources critical for Tembo's growth.
VivoPower International PLC (NASDAQ: VVPR) will announce its half-year results for the period ending December 31, 2021, on February 24, 2022, at 16:30 EST / 21:30 GMT. CEO Kevin Chin will host an earnings conference call immediately afterward at 17:00 EST / 22:00 GMT. Dial-in numbers for the live call have been provided, along with a link for a live webcast and replay access. VivoPower focuses on sustainable energy solutions, including battery storage and solar technology, operating across several countries.
VivoPower (Nasdaq: VVPR) has announced the formation of Caret Decimal, a renewable-powered digital asset mining company, via a partnership with an experienced crypto-mining team. Caret will contribute 206 MW DC of solar sites in Texas, valued at $20 million, to facilitate this venture. Once operational, the mining sites are projected to reach 4,398 petahash capacity, generating approximately $270 million in annual revenue with an 87% EBITDA margin. The company aims to use its solar projects for optimal power-to-x applications, including cryptocurrency mining and green hydrogen production.
VivoPower International PLC (Nasdaq: VVPR) has signed a non-binding letter of intent to acquire Bensley Auto Investments Pty Ltd, the parent company of GB Auto Group, for an enterprise value of USD$7.6 million. This acquisition is expected to enhance VivoPower’s electrification mission in Australia, particularly in the heavy vehicle sector. GB Auto reported USD$22.3 million in revenue for FY21 and is recognized for its electric vehicle services in mining and construction. The deal represents an Adjusted EBITDA multiple of 3.6x and is projected to close by February 28, 2022.
VivoPower has launched a subsidiary in the UAE's Dubai Multi Commodities Centre to enhance its service capacity in the Middle East, Africa, and Indian markets. This strategic move coincides with the UAE's US$200 billion Net Zero 2050 Initiative, aimed at advancing clean energy solutions. Kevin Chin, CEO, emphasized the significance of Dubai as a logistics hub for sustainable energy products. VivoPower, a certified B Corporation, is committed to providing electrification solutions and decarbonization strategies for its clients globally.
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