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.
VivoPower International PLC will announce its full-year financial results for the period ending June 30, 2022, on August 29, 2022, at 16:30 EST. Following the earnings release, Kevin Chin, the Executive Chairman and CEO, will host a conference call at 17:00 EST. Investors can register for the call and access a live webcast through the provided links. VivoPower focuses on sustainable energy solutions, including battery storage and solar technology, and operates across multiple countries, emphasizing its commitment to decarbonization.
VivoPower International PLC (Nasdaq: VVPR) has finalized a deal with a U.S. institutional investor to sell 4,230,770 ordinary shares at $1.30 each, generating gross proceeds of approximately $5.5 million. Alongside this, the company will issue unregistered warrants for the same number of shares, also priced at $1.30, exercisable after six months and expiring in five years. Proceeds will be allocated to hiring engineering talent and enhancing production capabilities. The offering's closure is anticipated around August 2, 2022.
VivoPower International (NASDAQ: VVPR) announces its subsidiary, Tembo E-LV, has secured an order for EV conversion kits from Atlas Iron, a major iron ore mining company in Western Australia. This collaboration aims to support Atlas Iron's efforts in electrification and energy efficiency. VivoPower's Executive Chairman, Kevin Chin, expressed optimism for future orders as they engage with other groups post-border openings in Australia and Southeast Asia. VivoPower focuses on providing sustainable energy solutions and aims for net-zero carbon status.
VivoPower International PLC (NASDAQ: VVPR) announced the divestiture of two non-core business units, J.A. Martin Electrical and NDT Services, to ARA Group for up to A$10 million based on FY2023 EBITDA results. This aligns with VivoPower's strategy to focus on its growing electric vehicle and sustainable energy solutions. The well-performing J.A. Martin's Solar business unit will be retained and integrated into Aevitas Kenshaw. Proceeds from these sales will primarily fund high-growth sectors, reinforcing the company's commitment to strategic realignment.
VivoPower (NASDAQ: VVPR) has announced a record A$11.7 million contract for electrical works on the 204MWdc Edenvale Solar Farm in Queensland, Australia. This marks the largest solar contract awarded to VivoPower's Australian subsidiary, J.A. Martin Electrical. Construction is underway, with the solar farm set to generate approximately 425,000MWh of clean energy annually and reduce carbon emissions by 300,000 tonnes. VivoPower’s solar solutions business has achieved a 62% CAGR since FY2019, signaling strong growth and a robust project pipeline.
VivoPower International PLC (Nasdaq: VVPR) has announced a Design Services Agreement with Toyota Motor Corporation Australia for its subsidiary, Tembo e-LV. This agreement marks a significant step in the development of electrification solutions for the Toyota LandCruiser 70, specifically designed for off-road applications. VivoPower will devote dedicated resources to this project and partner with GB Auto, leveraging their expertise in the mining sector. This collaboration aims to enhance corporate fleet safety and performance in rugged environments.
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.