VivoPower International announced today that A.G.P./Alliance Global Partners has initiated research coverage on the Company with an initial “Buy” recommendation and price target of $5.00 per share.
The initiation report, written by Jeffrey Campbell, Managing Director, Equity Research, Alternative Energy, Energy, and Sustainability Research, A.G.P., was published on March 31, 2022, and can be obtained by contacting Jonathan Kurtin, Head of Equity Sales, A.G.P., at [email protected].
The Company was not involved in the preparation of the research report and therefore expressly does not adopt or endorse any such advice or report. Please note that any opinions, estimates, or forecasts regarding the performance of the Company and its management made by A.G.P./Alliance Global Partners are theirs alone and do not represent the opinions, estimates, or forecasts of the Company or its management.
To read our full press release, and to keep up with all of VivoPower’s releases, visit our Press Releases page.
About VivoPower
VivoPower is a sustainable energy solutions company focused on battery storage, electric solutions for customized and VivoPower is a sustainable energy solutions company focussed on battery storage, electric solutions for customised and ruggedised fleet applications, solar and critical power technology, and services. The Company’s core purpose is to provide its customers with turnkey decarbonisation solutions that enable them to move toward net zero carbon status. VivoPower is a certified B Corporation with operations in Australia, Canada, the Netherlands, the UK, the US, and the UAE.
About A.G.P./Alliance Global Partners
Headquartered in New York City, A.G.P./Alliance Global Partners is an institutional investment banking firm with a strong sales/trading presence, in addition to its research and investment banking arms.
VivoPower International PLC announced today that the company has been invited to present at the Alliance Global Partners Virtual Energy Conference to be held on Wednesday, April 6, 2022.
The company’s Executive Chairman and Chief Executive Officer, Kevin Chin, and Managing Director and Head of Corporate Development, Matt Davis, will be available for one-on-one investor meetings during the conference.
To learn more or request an invitation to the event, please reach out to [email protected]. For any inquiries, please email [email protected].
About VivoPower
VivoPower is a sustainable energy solutions company focussed on battery storage, electric solutions for customised and ruggedised fleet applications, solar and critical power technology and services. The company's core purpose is to provide its customers with turnkey decarbonisation solutions that enable them to move toward net zero carbon status. VivoPower is a certified B Corporation with operations in Australia, Canada, the Netherlands, the UK, the US, and the UAE.
About Alliance Global Partners
Alliance Global Partners (A.G.P.) is a regional investment and advisory firm that has been a member of FINRA and registered with the SEC since 1980. A.G.P. specializes in wealth management and the middle market institutional arena. A.G.P has full-service capabilities with a global ability to handle domestic as well as international customers. A.G.P. prides itself in providing its clients with boutique-level services along with the confidence of knowing their assets are held at Fidelity Clearing and Custody. Whether a client is looking for wealth management advice, institutional services, or investment banking, A.G.P. has a track record and a proven team to assist. A.G.P. prides itself on long-lasting relationships with its clients, ranging from some of the largest institutions and crossing over to the individual investor.
• Investment set to accelerate growth across the Philippines and ASEAN region
• Green Antz converts plastic waste to sustainable construction materials
• Green Antz to grow recycling to approx. 25 kilo-tonnes of plastic waste a year
• Green Antz workforce of 150 to expand with the investment
SINGAPORE, 28 March 2022 – Arowana Impact Capital (AIC), the impact investing arm of award-winning global B Corp investment group, Arowana, is pleased to announce the completion of a cornerstone investment in Green Antz, producer of eco-friendly construction materials operating in Southeast Asia.
Green Antz converts plastic waste from commercial establishments and communities into value-added construction materials, such as bricks and pavers. Green Antz does this through its network of EcoHubs across the Philippines, which serve as collection sites, production facilities, and recycling education centres.
This strategy enables Green Antz to tackle Asia’s burgeoning plastic waste problem, whilst offering cost-effective and environmentally responsible alternatives to traditional building materials.
Addressing the plastic waste problem in Southeast Asia
Asia generates the highest volume of plastic waste leaking into the world’s oceans. Because of poor waste management, the Philippines is the region’s worst polluter, having produced 36% of the eight mega-tonnes of global plastic waste that ended up in oceans in 2021.
In addition, seven of the ten rivers that expel the most plastic pollutants into these waters are in the Philippines.
With the Arowana Impact Capital investment, Green Antz aims to further reduce plastic waste by 1% by 2025 through a strategy of recycling approximately 25 kilo-tonnes of plastic waste a year. It also intends to embark on a regional expansion strategy to service other markets across ASEAN.
Champion of the circular economy business model
As one of the pioneering practitioners of sustainable business in the Philippines, Green Antz champions the circular economy business model. By using a “Shared Value” approach, they engage with community partners, conglomerates, and multinational companies for the collection of plastic waste whilst centralising the production of construction materials within the EcoHubs.
Green Antz also collaborates with corporate partners to develop and execute waste management solutions, including the implementation of a plastic credit scheme.
To date, Green Antz has established a total of 36 EcoHubs and over 100 community and corporate partnerships in the Philippines. As a result, the company has diverted 284 tonnes of plastics from landfills, created more than 150 jobs, and improved the livelihood of local communities.
AIC chair, Terry Alan Farris, said: “Poor plastic waste management is costing countries like the Philippines north of US$790m a year. Whilst traditional models of reusing plastic offer a good start, communities need to move towards repurposing plastic waste into value-added products, such as the construction materials produced by Green Antz. Not only will communities be able to tackle plastic pollution, but they will also contribute to value creation through game-changing strategies in the circular economy.”
Rommel Benig, CEO, Green Antz, said: “This partnership with Arowana is a significant milestone for the whole Green Antz family as it will propel our organisation to the next level with better capabilities, more innovations, and wider reach.
“We are extremely excited to work with an organisation that is passionate about addressing environmental and social issues. We look forward to working with Arowana as we jointly pursue the circular economy model to create greater and lasting impact.”
Kevin Chin, Founder and Board Member of AIC, said: “We are delighted to be partnering with Green Antz on an important mission to help address the plastic pollution problem in the Philippines and across Southeast Asia. Whilst COVID-19 lockdowns have caused some of the world’s most significant disruption over the last two years across ASEAN, we have been greatly impressed with the resilience of the Green Antz leadership team and its business model. Green Antz has continued to deliver profitable growth and significant impact as measured against the UN Sustainable Development Goals. Importantly for us and our co-investors, this is the type of business model that meets our triple bottom-line criteria of People, Planet, and Profit. We very much look forward to supporting Green Antz on their mission.”
About Green Antz
Green Antz is a pioneering practitioner of the circular economy in the Philippines. Established in 2014, the company collects plastic waste and upcycles them into construction materials and other recycled products. Instead of ending up in landfills and clogging our riverways and coastlines, the repurposed plastic waste generates income for many marginalised communities. Taking the lead from its founder, Green Antz aims to be a force for good by redefining resource use to support sustainable urbanisation.
About Arowana Impact Capital
Launched in 2019, Arowana Impact Capital (AIC) focusses on impact investing in Southeast Asia. AIC’s core purpose is to help build people, build companies, and build value through sustainable investment practices across the ASEAN region.
In focussing on the four key areas of livelihood creation, access to education and healthcare, sustainable urbanisation, and financial inclusion, AIC is helping to contribute towards the successful achievement of the United Nations Sustainable Development Goals (SDGs).
About Arowana
Arowana is a global award-winning B Corp certified group that is focussed on building and scaling up sustainable enterprises. Our investments and operations encompass electric vehicles, renewable energy, vocational and professional education, technology and software, venture capital, and impact asset management. Our long-term mindset and entrepreneurial expertise enable us to provide financial, operational, and technological support to those who aspire to build future-proofed impactful companies.
Media inquiries
Andre Ramirez
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Click here to download report.
VivoPower is pleased to confirm that it will announce results for the half-year ended December 31, 2021, on Thursday, February 24, 2022, at 16:30 EST / 21:30 GMT.
The Company also confirmed that Kevin Chin, Executive Chairman, and CEO, will host an earnings conference call on Thursday, February 24, 2022, at 17:00 EST / 22:00 GMT.
The dial-in phone number for the live audio call are:
Conference ID: 7649525
Date of call: February 24, 2022
Leader Toll-Free Dial-In Number: (833) 398-0998
Leader International Dial-In Number: (914) 987-7709
Participant Toll-Free Dial-In Number: (833) 362-0227
Participant International Dial-In Number: (914) 987-7684
A live webcast of the conference call will be available at https://edge.media-server.com/mmc/p/4kcg8j8f and on the investor relations section of the VivoPower website at www.vivopower.com.
A replay of the webcast will also be available two hours after the conclusion of the call and can be accessed from the link above or via the VivoPower website for a period of one year.
To read our full press release, and to keep up with all of VivoPower’s releases, visit our Press Releases page.
29,795 square foot facility represents a 113% increase over Tembo’s current space to provide capacity to develop and assemble e-LV kits
VivoPower International PLC (NASDAQ: VVPR) (“VivoPower,” the “Company”) is pleased to announce that its wholly-owned subsidiary in the Netherlands, Tembo e-LV B.V. (“Tembo”), will move to an expanded electric light vehicle (“e-LV”) development and assembly facility in Eindhoven in May 2022.
Currently based in Bergeijk, Tembo’s e-LV conversion kits transform diesel-powered vehicles into customized and/or ruggedized e-LVs for use in sectors such as mining, resources, infrastructure, construction, and defense. In the past year, Tembo has made significant progress despite COVID disruptions, including signing agreements with distribution partners for e-LV kits across six continents.
To accommodate these developments and enable the necessary e-LV development and assembly growth to service its customer base, Tembo will move to an expanded facility located in Eindhoven, the hub of the Dutch automotive industry, on May 1st. This new facility is conveniently located within the Eindhoven international airport precinct and comprises 29,795 square feet of space, a significant increase on Tembo’s current facilities of 13,993 square feet.
The Eindhoven area features numerous automotive OEMs and related manufacturing businesses. It is home to over 50 percent of the Dutch automotive industry.
Jos van der Linden, Managing Director of Tembo in the Netherlands, said: “Tembo’s relocation is essential for the continued growth of our company. Being in central Eindhoven, our new facilities will enhance our ability to recruit engineering talent. With this move, we are also ensuring that we have the capacity to meet the requirements of our partners and customers.”
To read our full press release, and to keep up with all of VivoPower’s releases, visit our Press Releases page.
GB Auto are Tembo’s exclusive distribution partner in Australia
Transaction expected to be completed at an enterprise value of 3.6x FY21 EBITDA (unaudited)
VivoPower is pleased to announce that the company has entered into a non-binding letter of intent to acquire 100% ownership of Bensley Auto Investments Pty Ltd, the parent company of GB Auto Group Pty Limited and GB Electric Vehicles Pty Ltd. GB Auto is currently VivoPower’s exclusive distributor of the Tembo e-LV Electric Cruiser and Electric HLX, and Tembo electric vehicle conversion kits, in Australia.
GB Auto is a highly respected leader in the provision of services, products, and technology to fleet, heavy vehicle, and mobile equipment operators in the mining, construction, transport, and agriculture industries across Australia. Operating for over 35 years, with 130 employees and a fleet of 70 vehicles, it has six branches in New South Wales, Australia, including a purpose-built electric vehicle facility that was opened earlier this year. GB Auto’s personnel provide maintenance, repairs, and installations across five core areas of electric vehicles: auto electrical, air conditioning, light and heavy mechanical, and fire suppression. Its customer base includes multinational mining and construction companies such as BHP, Newcrest, Glencore, Peabody, and Lendlease Samsung Bouygues, as well as original equipment manufacturers including Komatsu Australia, Westrac Caterpillar, Epiroc, Hitachi Construction Machinery, and Liebherr Australia.
For its fiscal year ended June 30, 2021, GB Auto generated USD$22.3 million in revenue (unaudited), adjusted EBITDA of USD$2.1 million and net income of USD$0.4 million (unaudited). The purchase consideration will be USD$7.6 million on a cash-free, debt-free basis, with 75% to be paid in cash (expected to be funded from existing and new asset financing facilities) and 25% to paid in VivoPower ordinary shares upon closing. This represents an adjusted EBITDA multiple of 3.6x.
VivoPower is finalising due diligence and is in the process of completing definitive documents with the shareholders of GB Auto, as well as negotiating acquisition financing facilities. The company anticipates entering into a definitive agreement with the shareholders of GB Auto and plans to disclose the terms of such definitive agreement if and when executed. The company is working to close the transaction on or before 28 February 2022.
Kevin Chin, Executive Chairman and CEO of VivoPower commented: “We are looking forward to welcoming the entire GB Auto team to VivoPower, having worked closely together over the past 12 months on our mission to electrify vehicle fleets in mining and other industries across Australia. GB Auto is a natural fit for VivoPower, and we expect the acquisition to be both strategically and financially accretive for VivoPower, as it deepens verticals within the Tembo business line.”
To read our full press release, and to keep up with all VivoPower’s releases, visit our Press Releases page.
VivoPower is pleased to announce that its wholly-owned subsidiary, Caret LLC, which owns solar power project sites across the US, has signed a letter of intent to launch Caret Decimal, a renewable-powered digital asset mining business, consistent with its previously announced Power-to-X strategy.
It is expected that Caret Decimal will have the capability to mine Bitcoin, Ethereum, and Litecoin, among others. Caret Decimal’s mission will be to become the most efficient vertically integrated, green-powered digital asset mining company in the US with the lowest breakeven cost of mining. With sustainability at its core, Caret Decimal will adhere to the principles of the newly-formed Bitcoin Mining Council, with a view to seeking membership once operational.
In connection with the transaction, Caret will be contributing an initial 206 MW-DC of its ready-to-build solar power from sites in Cottle and Hardeman Counties, Texas. Valued at US$20m, which is in line with comparable transactions, the sites will be built and commissioned for 100% renewable-powered digital asset mining in exchange for equity in Caret Decimal. Once fully operational, these sites are expected to have 4,398 petahash capacity, a fleet of 33,000 mining rigs, revenue potential of approximately $270m per annum, with an EBITDA margin of approximately 87%, based on forecast Bitcoin prices.
VivoPower intends for financing to be raised at the Caret Decimal-level to fund the build-out of the mining sites, which will then be commissioned on a staged basis over a 24-month period. VivoPower’s expectation strategy is to ultimately spin off Caret’s digital asset mining business unit via an IPO.
VivoPower’s Chief Executive Officer, Kevin Chin, commented: “As previously announced in August, we have been evaluating Power-to-X use cases for our solar projects, including cryptocurrency mining and green hydrogen. In the past months, we have seen increasing interest in our solar projects from several cryptocurrency mining groups seeking to secure their own captive source of renewable power. It is clear from our studies that digital asset mining presents the highest and best Power-to-X use case for our solar power sites. Furthermore, these sites are highly strategic, not just for mining, but for other power-intensive blockchain computing applications.”
“We are pleased to be contributing 206 MW-DC of solar sites in Texas in exchange for equity in Caret Decimal and are also now re-evaluating the potential Power-to-X use cases for our other 1.6 GW of solar projects in the US, including some that had been previously mothballed.
“We are also delighted to be partnering with a team that has a combined 26 years of digital asset mining experience. Our vision with the Caret Decimal digital asset mining business unit is to build the most efficient, 100% renewable-powered digital asset mining company in the US with the lowest digital asset mining cost and carbon footprint.”
To read our full press release, and to keep up with all VivoPower’s releases, visit our Press Releases page.
The UN COP26 summit wrapped up its second week with delegates finalising the deal that would secure emission reduction commitments. The climate talks blew past the Friday deadline as key issues still had to be discussed including the phase-out of fossil fuel subsidies, carbon markets, and financial help for poor countries to fight climate change.
Here are some of the key insights from the COP26 climate change conference's final week.
| Countries / Signatories | Area | Action |
|---|---|---|
| 30 | Emissions | Zero Emission Vehicle Transition Council: Formed in November 2020, governments from the world’s largest and “most progressive” automotive markets aim to accelerate the shift to zero-emission vehicles (ZEVs) on a global scale. The following are the council’s key priorities in 2022: charging infrastructure, CO2 or fuel efficiency standards and regulations, pace of the transition and technology choices for zero-emission heavy-duty vehicles, and ensuring global transition to ZEV. |
| 22 | Emissions | Mission Innovation: New “missions” announced at COP26 aim to bolster investments that would facilitate urban transitions to low carbon; eliminate emissions from industry; enable carbon dioxide removal; and produce renewable fuels, chemicals, and materials. The platform gives the public and private sectors an avenue to collaborate on clean technology solutions across industries. |
| 22 | Emissions | Clydebank Declaration: Signatories aim to establish at least six “green shipping corridors” in the current decade. These corridors are zero-emission maritime routes between two or more ports to promote net-zero strategies in harder-to-decarbonise sectors such as shipping and aviation. |
| 8 | Oil | Beyond Oil and Gas Alliance: Denmark, Costa Rica, France, Greenland, Ireland, Sweden, Wales, and the Canadian province of Quebec have pledged to stop the issuance of oil and gas drilling permits in support of the alliance’s larger effort to halt oil and gas production in their territories. |
| Global | Adaptation / Resilience | Adaptation Fund: Launched in 2001 under the Kyoto Protocol, the Adaptation Fund was able to raise a record US$356m in donations at COP26 as part of its mandate to finance climate initiatives in developing countries that are the most vulnerable to global warming. The 2021 pledges came from the European Commission, Germany, US, Spain, UK, Sweden, Switzerland, Norway, Finland, and Canada, among others. |
| Global | Health | COP26 Health Programme: Signatories have pledged to build sustainable, low-carbon health systems designed to be resilient against the impact of climate change. Fourteen countries, in particular, aim to establish net-zero health infrastructure by 2050. |
| Global | Gender | Gender Action: Different countries unveiled their programs for advancing gender equality in their climate response strategies. Bolivia vowed to promote the leadership of women and girls in sustainable development projects. Canada said it would ensure 80% of its $5.3bn climate investments result in gender equality outcomes. Ecuador pledged to increase the decision-making capability of women-led climate groups, while Germany launched “gender-transformative” approaches to its climate initiatives. |
Delegates to COP26 in Glasgow, Scotland just wrapped up the first half of the two-week summit. More than 100 world leaders listed down presented their plans to make higher-impact reduction goals to fight climate change. Here are six of the biggest initiatives announced during the summit thus far.
| Countries | Area | Action |
|---|---|---|
|
100+ |
Deforestation |
Glasgow Leaders Forest & Land Use Declaration: over 100 countries signed up to end deforestation globally by 2030, with US$20bn in private and public funds to help end logging and protect forests globally. The countries that have signed the pledge cover around 85% of the world's forests. |
|
Global |
Climate Reporting |
International Sustainability Standards Board (ISSB): officially launched with a mission to rapidly build on existing frameworks for climate reporting. The ISSB’s primary objective will be to elevate sustainability to the same status as financial reporting which is governed by the International Accounting Standards Board (IASB). |
|
Global |
Climate Finance |
Glasgow Financial Alliance for Net Zero: a coalition of more than 450 firms across 45 countries, led by former Bank of England governor Mark Carney, representing more than $US130 trillion of private finance has committed to aligning investment with science-based net-zero targets by 2050. |
|
40+ |
Coal |
Global Coal to Clean Power Transition Statement: over 40 countries and some major energy companies are committed to phasing out coal-fired generation by 2030 for developed countries and by 2040 for developing countries. This was part of a broader coalition of 190 countries and financial institutions that have agreed to phase out coal power and end support for new coal power plants. |
|
103 |
Methane |
Global Methane Pledge: 103 countries, including 15 major emitters, committed to cutting methane emissions by 30% by 2030. The signatories account for 40% of global methane emissions. |
|
Global |
Agriculture |
The Global Action Agenda on Transforming Agricultural Innovation: over 160 allies have signed up including the World Bank, WWF, World Food Programme, UN Foundation, Columbia Climate School, Bayer, Rainforest Alliance, World Economic Forum, Asian Development Bank, the European Bank for Reconstruction and Development as well as countries. Key initiatives will include the 100 Million Farmers Multi-Stakeholder Platform led by the World Economic Forum and over US$5bn from the ClimateShot impact investment community to transform agriculture for people, nature, and climate. |
