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VivoPower International PLC - VVPR STOCK NEWS

Welcome to our dedicated page for VivoPower International PLC news (Ticker: VVPR), a resource for investors and traders seeking the latest updates and insights on VivoPower International PLC stock.

VivoPower International PLC (NASDAQ: VVPR) is a global leader in sustainable energy solutions, specializing in the development, building, and operation of solar power projects. The company aggregates photovoltaic (PV) solar projects under long-term power purchase agreements and then manages corporate and project financing, engineering design, equipment procurement, and construction. VivoPower operates through several segments, including Solar Development, Critical Power Services, Sustainable Energy Solutions, and Electric Vehicles, with the majority of its revenue coming from Critical Power Services, primarily in Australia.

Recent Achievements and Current Projects

VivoPower's subsidiary, Tembo e-LV B.V. ("Tembo"), recently secured a follow-on strategic equity investment of USD 5 million, affirming the company's robust financial health and growth prospects. Tembo focuses on electric utility vehicles (EUVs) for fleet owners in sectors like mining, agriculture, and government. VivoPower continues to retain a majority stake in Tembo, which recently met milestones for a final follow-on investment.

Another exciting development involves Tembo's joint venture with Francisco Motor Corporation in the Philippines, which has secured 1,300 order commitments for electric jeepneys, valued at an estimated USD 30 million. This initiative aims to modernize the Philippines' jeepney industry, aligning with VivoPower's mission to provide sustainable energy solutions globally.

Moreover, VivoPower has begun delivering next-generation EUV powertrain conversion kits to its Canadian distributor, Access Industrial Mining Inc. These kits convert diesel-powered 4x4 LandCruiser and Hilux vehicles into electric utility vehicles, supporting corporate clients in achieving their net-zero carbon goals.

About VivoPower

VivoPower is an award-winning B Corporation dedicated to providing turnkey decarbonization solutions for its clients. The company operates in multiple countries, including Australia, Canada, the Netherlands, the United Kingdom, the United States, the Philippines, and the United Arab Emirates. VivoPower's core purpose is to facilitate the transition to net-zero carbon status for its customers through innovative, sustainable energy solutions.

Financial Condition and Partnerships

VivoPower's financial health is bolstered by strategic investments and partnerships. The company has a strong presence in Australia, generating most of its revenue from this region. Recent equity investments and joint ventures highlight its commitment to sustainable growth and innovation.

As of the first half of 2024, VivoPower's financial results are preliminary but reflect a stable and promising outlook. The company continues to attract significant investments, further supporting its ambitious projects and long-term objectives.

For more detailed and the latest updates on VivoPower International PLC, visit their official website or follow their NASDAQ profile.

Rhea-AI Summary
Tembo E-LV BV, a subsidiary of VivoPower International PLC, has announced the delivery of its next generation Electric Utility Vehicle powertrain conversion kits to Access Industrial Mining Inc in Canada. Access has previously signed a Definitive Agreement for 1,675 EUV conversion kits over five years. The kits will transform diesel-powered 4×4 LandCruiser and Hilux vehicles into ruggedized EUVs for mining and industrial applications, aligning with VivoPower's sustainable energy solutions. Access was chosen as the distribution partner due to its extensive experience with Toyota LandCruisers and active relationships with mining and industrial companies.
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Tembo E-LV BV, a subsidiary of VivoPower International PLC, has received 1,300 order commitments from leading jeepney co-operatives in the Philippines, worth an estimated US$30 million, as part of its joint venture with Francisco Motor Corporation to electrify 200,000 existing jeepneys, estimated to be worth US$10bn+.
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VivoPower International PLC (VVPR) announced its half year unaudited preliminary results for the six months ended December 31, 2023. Revenue declined to $5.9 million, net after-tax loss decreased to $7.8 million, Tembo signed a joint venture agreement with Francisco Motor Corporation, VivoPower's Solar Development business unit secured board approval to spin off its portfolio, and Tembo was honored with the electrical vehicle innovation of the year award at the Tech Innovation Awards 2023.
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VivoPower International PLC (Nasdaq: VVPR) announces that its subsidiary Tembo e-LV B.V. has secured a further follow-on strategic direct equity investment of US$5 million, at a pre-money valuation of US$120 million, from a UAE based private investment office backed by a member of the ruling Al Maktoum family of Dubai. This investment is part of an initial US$2.5 million investment made in June 2023, with an option to increase investment to up to US$10 million based on meeting certain milestones. VivoPower will continue to retain its majority stake in Tembo.
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VivoPower International PLC (NASDAQ: VVPR) announces that CEO Kevin Chin is increasing his individual shareholding in the Company by 125,000 shares, representing approximately 4% of the undiluted number of issued and outstanding shares. This is through a voluntary election to receive his CEO salary in the form of ordinary shares, approved by the Remuneration Committee.
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VivoPower International PLC (NASDAQ: VVPR) has initiated a strategic review following inbound M&A expressions of interest for Tembo and Aevitas Kenshaw. Non-binding letters of intent have been received, prompting the review. The company has engaged corporate adviser Chardan for this purpose. The review is driven by the goal of maximizing strategic value and fulfilling fiduciary duties to stakeholders. VivoPower remains committed to its B Corp triple bottom line of people, profit, and planet.
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VivoPower International PLC has approved an action plan to address alleged illegal market manipulation. The plan includes creating a task force to pursue actions with regulators and engaging an external forensic investigation firm. Certain individuals and/or companies are believed to have engaged in a market manipulation scheme to depress the stock price. VivoPower is committed to upholding high governance standards.
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VivoPower plans to spin off majority of its Caret business unit's solar projects portfolio, totaling 586MW-DC. VivoPower shareholders will receive a special dividend in the form of stock in the spin-off entity. The distribution may qualify as tax-free for US federal income tax purposes.
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VivoPower and Geminum form a joint venture to develop digital twin solutions for fleet electrification and decarbonisation.
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Tembo E-LV BV receives Electric Vehicle Innovation of the Year Award at Tech Innovation Awards 2023 in Dubai.
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FAQ

What does VivoPower International PLC do?

VivoPower specializes in the development, building, and operation of solar power projects and electric utility vehicles. They offer turnkey decarbonization solutions globally.

What are the recent achievements of VivoPower?

Recent achievements include a USD 5 million equity investment in subsidiary Tembo, securing 1,300 order commitments for electric jeepneys in the Philippines, and delivering next-gen EUV powertrain kits to Canada.

What segments does VivoPower operate in?

VivoPower operates in Solar Development, Critical Power Services, Sustainable Energy Solutions, and Electric Vehicles.

Where does VivoPower generate most of its revenue?

Most of VivoPower's revenue is generated in Australia, particularly from its Critical Power Services segment.

Who are VivoPower's partners?

VivoPower partners with long-term investors, suppliers, and local developers to efficiently manage capital and recycle profits.

What is Tembo's role in VivoPower?

Tembo, a subsidiary of VivoPower, focuses on electric utility vehicles for various sectors, providing safe and reliable electrification solutions globally.

What recent projects has Tembo undertaken?

Tembo recently secured an order for 1,300 electric jeepneys in the Philippines and began delivering EUV powertrain conversion kits to Canada.

What is VivoPower's mission?

VivoPower aims to drive the development, construction, financing, and operation of solar power infrastructure to meet global green energy needs.

How does VivoPower support sustainability?

VivoPower provides turnkey decarbonization solutions, including solar power projects and electric utility vehicles, helping clients achieve net-zero carbon goals.

In which countries does VivoPower operate?

VivoPower has operations in Australia, Canada, the Netherlands, the United Kingdom, the United States, the Philippines, and the United Arab Emirates.

VivoPower International PLC

Nasdaq:VVPR

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