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 (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.
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.
Summary not available.
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.