VivoPower PLC reports company developments tied to its AI data center infrastructure, Power-to-X platform and powered land assets. Recurring announcements cover data center asset activity, reserve-market demand response at the Mo i Rana, Norway site, conference presentations and updates on the company's sovereign AI compute infrastructure strategy.
Company news also covers capital-structure actions, including share conversion matters and registration-statement changes, as well as governance and advisory council updates, material agreements, shareholder voting matters, operating results and financial results.
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VivoPower International PLC (NASDAQ: VVPR) has signed a definitive agreement with Ulti-Mech Pty Ltd to market, distribute, and service Tembo-powered electric utility vehicles in Western Australia, a key mining region. The agreement stipulates Ulti-Mech will sell a minimum of 1,000 Tembo EV conversion kits over five years. These kits will convert diesel-powered vehicles into ruggedised Electric Utility Vehicles (EUVs), supporting the mining industry's move towards sustainability. VivoPower aims to assist clients in achieving net-zero carbon goals, with Ulti-Mech's extensive coverage in Western Australia enhancing market penetration.
VivoPower (Nasdaq: VVPR) reported a 23% decline in revenue, totaling $8.7 million for the six months ending December 31, 2022, attributed to a slowdown in solar projects and adverse weather effects in Australia. The gross loss from operations increased to ($3.6 million) due to these unseasonal conditions. The net after-tax loss remained consistent at ($10.4 million) with an EPS of ($0.44). However, cash reserves improved, rising to $3.2 million. VivoPower secured additional agreements, adding over 5,000 EV conversion kits, and received its first order for the next-gen EUV conversion kit.