Vivopower International Plc Stock Price, News & Analysis

VivoPower International PLC (NASDAQ: VVPR) has signed a Supply Agreement with Evolution Group Holdings Limited to electrify its fleet of light utility vehicles for traffic management over five years. Tembo EV Australia, VivoPower's subsidiary, will convert existing and new vehicles to electric with a target for the first vehicle to be roadworthy by 2023. Evolution aims to set eco-friendly standards in the industry as the first traffic management company committed to fleet electrification.

The agreement includes vehicle conversion, training, and sustainable energy solutions, with Tembo evaluating assembly facilities in Australia.

VivoPower International PLC (NASDAQ: VVPR) has entered a significant distribution agreement with Energy Trading Company Mauritius (ETC Mauritius) for a minimum of 4,000 Tembo e-LV conversion kits until December 2027. This deal represents VivoPower's largest commitment to date, increasing total orders to 10,000 kits. The agreement allows Tembo to enter Kenya's second-hand vehicle market, targeting various sectors, including government and agriculture. The total addressable market for second-hand vehicle repowering is estimated to be worth $110 billion.

VivoPower International PLC (NASDAQ: VVPR) announced a definitive distribution agreement with Energy Trading Company Mauritius for a minimum of 4,000 Tembo electrification kits until December 2027, marking the largest distribution deal for the company. This partnership expands total commitments to over 10,000 kits and enables entrance into the second-hand vehicle repowering market, valued at approximately $110 billion. The kits convert diesel Toyota 4x4s into electric vehicles for various sectors in Kenya, supporting decarbonization goals.

On October 28, 2022, VivoPower International PLC received a notification from Nasdaq indicating its common stock no longer meets the minimum bid price requirement of $1 per share. The company has a 180-day compliance period until April 26, 2023, to regain compliance. If unable to do so, VivoPower may seek an additional compliance period. The company remains committed to monitoring its stock price and exploring options for compliance. VivoPower specializes in sustainable energy solutions and operates globally across several countries.

LONDON, Oct. 27, 2022 (GLOBE NEWSWIRE) -- VivoPower International PLC (NASDAQ: VVPR) has published its quarterly newsletter highlighting key financial and operational updates for the quarter ending September 30, 2022. The newsletter is accessible via the Investors section of the VivoPower website. VivoPower focuses on sustainable energy solutions, including battery storage and solar technology, with operations across several countries. The company remains committed to providing decarbonization solutions while navigating potential market uncertainties and risks.

VivoPower International PLC (NASDAQ: VVPR) reported preliminary results for the fiscal year ending June 30, 2022, with total group revenues of $37.6 million, down 7% year-on-year due to COVID-19 impacts. Underlying EBITDA loss expanded to ($10.4 million), from ($1.4 million) in FY21. Significant changes include divesting non-core businesses and increasing cash balance from $1.3 million to $8.9 million following divestitures. A Design Services Agreement with Toyota Australia was secured, and a MOU for 1,000 EV kits in Jordan was signed, signaling expansion in electric vehicle market.

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.