Vivopower International Plc Stock Price, News & Analysis

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.

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.