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) announced its subsidiary, J.A. Martin Electrical Pty Limited, secured a contract for the 119MWdc Hillston Solar Farm in New South Wales, Australia. The project, underway now, marks the third solar farm completed by J.A. Martin and expands their portfolio to over 450MWdc. Once operational, the solar farm will produce approximately 235,000MWh of clean energy annually, powering nearly 54,000 homes and reducing carbon emissions by over 161,000 tonnes. The construction will create around 160 local jobs.
VivoPower International PLC (NASDAQ: VVPR) has signed a definitive agreement with GHH Group GmbH to distribute Tembo electric light vehicle (e-LV) conversion kits across 50 countries. GHH plans to purchase 3,000 kits by December 2026, marking the largest distribution deal for VivoPower to date. The agreement aligns with VivoPower’s goal of establishing a global distribution network. With this deal, Tembo kits can now reach clients on six continents, aiming to help the mining sector electrify its operations as part of sustainability efforts.
VivoPower International PLC (NASDAQ: VVPR) announced the rebranding of its U.S. solar development unit to Caret LLC, implementing a new Power-to-X strategy aimed at enhancing project value. Caret consists of 12 solar projects totaling 682 MW-DC, with 11 in Texas and one in New Mexico, all at mid- to late-stage development. The company expects these projects to generate over 1.3 terawatt-hours of zero-carbon electricity annually, reducing carbon emissions by over one million tons. VivoPower plans to reinvest proceeds from Caret into its core sustainable energy solutions strategy.
VivoPower International PLC (VVPR) reported its preliminary fiscal year results ending June 30, 2021, showing annual revenues of $40.4 million, a decrease of 16% due to COVID-19 lockdowns. The underlying EBITDA shifted to a loss of ($1.4) million from a profit of $3.9 million in the previous fiscal year. Despite challenges, VivoPower completed the acquisition of Tembo e-LV for $7.1 million and has secured commitments for nearly 5,000 electric vehicle conversion kits. They raised $32 million in equity offerings, reducing net debt to $14.5 million.
VivoPower International PLC (NASDAQ: VVPR) will announce its full-year results for the fiscal year ended June 30, 2021, on August 23, 2021, at 8:00 EDT. CEO Kevin Chin will host an earnings conference call at 8:30 EDT the same day, with live access via phone or webcast. VivoPower specializes in sustainable energy solutions, including battery storage and solar technology, aiming for decarbonization. The company is a certified B Corporation with a global presence in Australia, Canada, the Netherlands, the UK, and the US.
VivoPower International PLC (NASDAQ: VVPR) has signed a Distribution Agreement with Bodiz International Group LLC to supply 350 electric light vehicle (e-LV) conversion kits over the next five years. This agreement is valued at approximately US$29 million and represents VivoPower's fourth major distribution deal in 2021. Bodiz will convert Toyota vehicles into ruggedized e-LVs for various sectors, including mining. The partnership aims to enhance the global distribution of VivoPower’s sustainable energy solutions and support corporate decarbonization efforts worldwide.
VivoPower International PLC (NASDAQ: VVPR) has announced that it has secured full ownership of its solar development portfolio in the U.S. by acquiring the remaining 50% equity interest from Innovative Solar Systems LLC for nominal consideration. This acquisition marks a significant step for VivoPower, allowing it greater control over its solar projects and enhancing its position in the sustainable energy market.
VivoPower International PLC (Nasdaq: VVPR) has completed feasibility studies on sustainable energy solutions at Tottenham Hotspur Stadium and the Club's training center. This milestone allows further exploration of projects aimed at reducing carbon emissions and energy costs. The partnership, established earlier this year, has received positive feedback on its potential impact. Tottenham Hotspur is recognized as the greenest club in the Premier League and is committed to sustainability, as demonstrated through various initiatives including signing the UN Sports for Climate Action Framework.
VivoPower (NASDAQ: VVPR) announced that its subsidiary, Kenshaw Electrical Pty Limited, secured a contract to supply and install generators for a COVID-19 mass vaccination hub in Belmont, New South Wales. This hub will support refrigeration for vaccines and has the capacity to administer up to 20,000 doses weekly. The project reflects Kenshaw's ongoing partnership with Hunter New England Health and showcases its ability to execute significant power projects promptly.
Kenshaw has over 15 years of experience in power services for health facilities in New South Wales.
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