We are humbled to announce that Arowana has once again made it to the prestigious list. This year, we ranked as the 35th-best purpose-driven business globally and the best in #ImpactInvesting for 2023.
For Arowana, this is the 4th straight year we have been honoured to be part of the Impact Awards. We debuted on the list in 2020, and since then, we have consistently ranked in the top 50 global companies despite the growing list of entries every year.
Founded in 2010, Real Leaders is a membership community for impact leaders powered by a global media platform. Its mission is to unite farsighted leaders to transform our short-sighted world.
Now in its 5th year, the Real Leaders Impact Awards honour companies that are driving positive impact while achieving impressive business growth. Driven by a proprietary ‘Force for Good’ score, the Impact Awards takes into account the 5-year sales growth, revenue, and B Impact Assessment (or default score) while ranking the companies.
This latest recognition shows Arowana's dedication to creating a meaningful impact in the community through our business. Our primary purpose continues to be to deliver the #BCorp triple bottom line of People, Planet, and Profit, and we are proud to have been recognised again by Real Leaders for our commitment to this purpose.
Visit the Real Leaders website to view the full list of 2023 Impact Awards winners.
Stay tuned to Arowana for more News & Insights.
EdventureCo, the education platform of award-winning impact investment firm and global B Corp, Arowana, announced that DDLS Group has rebranded to Lumify Group, uniting all its digital training brands under one umbrella.
A long-time leader in corporate ICT and digital skills training in Australasia, DDLS has continued to expand its services into new industries and regions. The group recently acquired Auldhouse, New Zealand’s largest ICT training provider, and Nexacu, Australia's leading provider of Microsoft end-user training. It launched the Australian Institute of ICT (AIICT), an online learning business, and opened its DDLS Philippines campus. DDLS People, the company’s business consultancy arm, also experienced significant growth over the past few recent years. These separate business divisions will now be consolidated under Lumify Group.
Under the new structure, Lumify Group will serve as the overarching brand for the businesses and incorporate the introduction of Lumify Learn, Lumify Work, and Lumify People. DDLS Australia, DDLS Philippines, and Auldhouse will now be known collectively as Lumify Work; DDLS People will now be known as Lumify People; and Lumify Learn will be launched in the new year, as its all-new ICT Consumer training arm.
The rebrand addresses two main objectives for DDLS. The first is to unify its business units under a single brand architecture. The second is to allow the company to focus on its mission to narrow the digital skills gap by equipping the workforce with future-focused, in-demand skills.
“The existing DDLS brand doesn’t do justice to the progressive, modern organisation we’ve become. While it has equity with our existing customer base, the name itself has no connection to what we do as a business,” Lumify Group CEO Jon Lang said.
“To move forward and continue to dominate the ICT training market in Australasia, we needed to move our separate brands under one umbrella. The rebrand is an important milestone for us and reflects our ongoing commitment to closing the digital skills gap across the APAC region by providing world-class training to our future tech workforce. In Australia alone, 286,000 people will need to enter technology jobs over the next four years just to keep pace with growth. Lumify Group’s ultimate mission is to meet this demand, by giving people and businesses the skills they need to flourish in a future where technology rules.”
“The next few years will see us continue to expand into other regions, target new markets, and increase our investment in digital, flexible, and customer-focused delivery and courses.”
The new name ‘Lumify’ means to illuminate; chosen to reflect Lumify Group’s belief in the power of learning and its ability to enlighten and transform.
“We wanted to design a modern, digital-first brand identity that communicates who we are now- and where we are headed. With so much growth and expansion, we felt the time was right to unite all our different brands and services under a single brand. But to do that, we realised we needed a new name. A name that truly reflects who we are, what we’ve become, and where we’re headed,” Lumify Group Marketing Head Michael Crump said.
The rebrand comes at a time when the company delivers an extensive and varied portfolio of 600+ courses to more than 30,000 students annually across 90 classrooms, along with a growing range of virtual and self-paced online options. It will have no impact on the day-to-day operations of all business units or the student experience.
For more information, please watch the Lumify Group Video here, and visit the website at http://www.lumifygroup.com/.
Stay tuned to the Arowana website for more news & insights.
Ruggedised EV conversion specialist Tembo e-LV has today revealed its new logo and website temboelv.com.
A wholly owned business of VivoPower, an award-winning global sustainable energy solutions company, Tembo specialises in the design and assembly of electric vehicle (EV) conversion kits for light utility vehicles in on-road and off-road applications. The company started offering its EV conversion kits for new vehicles and recently announced its entry into the second-hand market, a much larger total addressable market.
The new logo evolves Tembo’s classic elephant badge to reflect the reliability and power of the vehicles and has been modernised by creating an image of the elephant’s head, facing head-on, replacing the previous silhouette profile image.
The logo image is a stylised African Elephant, in keeping with its roots in ruggedisation for 4×4 utility vehicles, while the modernisation better represents the advanced technological and engineering capabilities of the company. A new wordmark has also been introduced to translate the company’s spirit of innovation.
The rebrand was led by a dedicated internal team in consultation with international branding experts and Tembo’s Leadership team. In addition to the new logo and livery, the rebrand coincides with a new look website which features a clear story on the Homepage with more compelling content, a Partners page – showing Tembo’s distribution presence in 50+ countries – and Tembo Academy page – where users can browse through a new curriculum of in-person courses geared to end-users and partners.
Visit the VivoPower website for more News & Insights.
VivoPower is pleased to announce that the Company and its wholly-owned subsidiary, Tembo EV Australia Pty Ltd (“Tembo Australia”), have entered into a Supply Agreement with the Evolution Group Holdings Limited (“EGH”, “Evolution”) for the full electrification of its fleet of light utility vehicles for traffic management and fleet management. Under the definitive agreement, Tembo Australia will convert existing and new vehicles to full electric over the next 5 years, subject to the successful completion of commercial and technical on-road trials, with a target to have the first fully electrified utility vehicle certified and roadworthy in 2023.
Kerry Daly, Non-Executive Chairman of Evolution, said: “Evolution is constantly evaluating opportunities to offer innovative and competitive solutions to its clients and to the industry as a whole. We have one of the largest fleets of vehicles for traffic management services across Australia and New Zealand and being the first to commit fully to the electrification of our vehicles will help to set new eco-friendly standards for the industry. After a review of proposals and capabilities of different electric vehicle conversion companies, the independent board members of Evolution have selected Tembo on the basis of their global experience, capability to deliver, training, and change management credentials as well as the broader VivoPower sustainable energy solutions offering.”
Evolution will be the first traffic management company in the world to commit to fleet electrification and repowering, which is in keeping with its objective to deliver cost-effective, sustainable, and environment-friendly solutions for clients from both the private and public sectors in Australia and New Zealand.
Gary Challinor, Chief Operating Officer of VivoPower, said: “We are delighted to have been selected for this important agreement and partnership to repower Evolution’s fleet of light utility vehicles for traffic control and fleet management. It is a first for the repowering of an existing fleet in Australia and New Zealand and also a first for the traffic management sector. We are looking forward to working closely with Evolution, not only to provide conversion EV powertrain kits, ruggedisation and customisation, but also importantly to deliver training and change management, as well as complementary sustainable energy solutions”. Sharing some company expansion plans on the occasion, he added: “Tembo is currently evaluating options and in discussions with financiers for establishing assembly facilities in Australia and is considering South East Queensland as a preferred location.”
To read the full article, and to keep up with all releases, visit VivoPower’s Press Releases page.
About Evolution Group Holdings
Founded in 2004 and headquartered in Brisbane, Australia, Evolution Group Holdings Limited (EGH) is one of the largest non-government providers of road infrastructure services across Australia and New Zealand, including traffic planning, traffic control, traffic management, training, equipment hire, fleet maintenance and management, and road corridor civil & bridge maintenance. The company has an extensive specialised fleet of over 500 vehicles for its traffic management and fleet management services and has an employee base of over 700 personnel across Australia, New Zealand and the Philippines.
Definitive distribution agreement for a minimum of 4,000 kits until December 2027
Represents VivoPower’s largest distribution deal to date for Tembo kits
Definitive agreement increases total commitments and orders to over 10,000 kits
Heralds Tembo’s entry into 2nd hand vehicle repowering market
Total addressable market for 2nd hand vehicle repowering estimated to be worth $110 bn*
VivoPower is pleased to announce that the Company and its wholly-owned subsidiary, Tembo e-LV B.V. (“Tembo”), have entered into a Definitive Distribution Agreement with Energy Trading Company Mauritius (“ETC Mauritius”) to sell, distribute and market Tembo electrification conversion kits for Toyota 4x4 second-hand vehicles in the Republic of Kenya.
Under the agreement, ETC Mauritius has committed to sell a minimum of 4,000 Tembo e-LV conversion kits from execution of this agreement until 31st December 2027 across various industry sectors in Kenya. ETC Mauritius will be responsible for acquiring Toyota second-hand vehicles, converting the vehicles to ruggedised e-LVs using Tembo solutions, selling the units to end-customers and providing after-sale servicing and maintenance with support from Tembo.
This agreement marks VivoPower’s largest distribution deal to date for Tembo e-LV conversion kits, based on number of kits. Sectors where the Tembo e-LVs will be used are wide-ranging, including government services, agriculture, tourism and mining. Importantly, VivoPower is also entering the second-hand vehicle market, which represents a considerably larger addressable market than that for conversion of new vehicles and allows for on-road applications of our e-LV kit.
Tembo’s conversion kits transform diesel-powered Toyota Land Cruiser and Hilux vehicles into ruggedised electric light vehicles for use in mining and other hard-to-decarbonise sectors. Tembo e-LV products are a key component of VivoPower’s turnkey net-zero solutions to assist both government and corporate enterprises accelerate towards their decarbonisation goals.
Kevin Chin, Executive Chairman and CEO of VivoPower, said: “We are delighted to announce this distribution partnership with ETC, given their longstanding and deep ties with both government and the private sector in Kenya. This partnership is a landmark milestone for Tembo e-LV on two fronts: it represents our single largest commitment of future orders for Tembo e-LV conversion kits at all levels within a single country and importantly it heralds our entry into the second-hand vehicle repowering market, which effectively multiplies our total addressable market. We look forward to working closely with the ETC team to deliver our solutions to Kenya, assisting both government and private sector achieve their energy transition goals over the next five years and beyond.”
Sacha E Cook, CEO of ETC Mauritius, said: “We are delighted to become a distributor of Tembo e-LVs in Kenya, which will allow us to play a significant role in achieving our country’s net zero targets by 2030. Having evaluated a number of alternatives, we decided to partner with Tembo, with which we can lead the way to decarbonise key sectors, including mining, public sector, agriculture and tourism across the country. We look forward to becoming part of the Tembo e-LV family and building a solid partnership in the coming years.”
To read the full article, and to keep up with all releases, visit VivoPower’s Press Releases page.
About VivoPower
VivoPower is an award-winning global sustainable energy solutions company focused 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 United Kingdom, the United States, and the United Arab Emirates.
About ETC Mauritius
Energy Trading Company Mauritius currently has investments and operations in clean energy (50% of Rift Gas Ltd, Kenya) and micro mobility company (SKOOT, United Kingdom). The fundamental principle and driving force of the business and its investment portfolio is to contribute to achieving Net Zero across the clean energy and transport sectors.
All trademarks referenced herein are the property of their respective owners.
* Source: VivoPower estimate
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EdventureCo, the education platform of award-winning impact investment firm and global B Corp, Arowana, has acquired Australia-based Microsoft Application training provider Nexacu in a deal worth $A19.1 million.
EdventureCo’s acquisition of Nexacu is in line with the company’s continued expansion of DDLS. The corporate ICT and digital skills training provider now includes DDLS Australia, DDLS Philippines, The Australian Institute of ICT, Auldhouse, and DDLS People. It follows DDLS’s acquisition of Auldhouse for $A16.6 million in 2021.
With Nexacu now part of its business, DDLS cements its position as the leading provider of digital skills training across APAC. The acquisition also allows the company to continue its significant contribution to reducing the critical digital skills gaps seen across the region.
Jon Lang, Chief Executive Officer of DDLS, believes the deal brings the training prowess of DDLS and Nexacu together. Both companies are committed to innovative technology, up-skilling the technical workforce, and advancing end-user capabilities.
“This will be a perfect union in terms of market adjacency and expansion. We both provide live, instructor-led, digital skills training, with DDLS focusing on technical courses for IT professionals, and Nexacu end-user apps courses,” Lang said.
“Given our growing portfolio of digital products and flexible delivery modalities there will be some great opportunities to continue building out this capability with Nexacu’s product suite.”
Meanwhile, Nexacu cofounder Paul Panebianco said he was positive for the future of the company under the DDLS umbrella.
“I'm delighted that Nexacu has joined the DDLS family, becoming part of the leading digital skills provider in the APAC region. There will be some great benefits for our customers and employees with opportunities to leverage synergies across sales, marketing, and product, in addition to their world-class facilities,” Panebianco said.
“By combining our expertise, we will create stronger, more impactful training options for both organisations and skilled workers across APAC. Both Anita and I couldn't be more excited about what lies ahead for Nexacu, our customers, and employees.”
A Leader in Microsoft End-User App Training
As a Microsoft Gold Partner, Nexacu has established itself as a leading provider of quality Microsoft end-user app training with campuses across Australia. The company currently has a highly diversified customer base across government, education, and commercial sectors, generating more than 42,000 positive participant reviews.
Today, Nexacu trains 13,000 students per annum and the merger will grow DDLS’s training pool to more than 30,000 students each year.
In acquiring Nexacu, DDLS intends to bolt-on the company’s portfolio of end-user courses to its enterprise sales infrastructure.
For more information on EdventureCo and its business units, visit www.edventureco.com.
‘Our vision is to become a quadruple bottom-line company that empowers communities,’ says Rommel Benig, Founder and CEO of Green Antz
Green Antz (GA), the initial investment of award-winning impact investing firm Arowana Impact Capital, has been named the top Pollution Reduction Initiative at the Environmental Finance Sustainable Company Awards 2022. The recognition represents a new milestone on GA’s journey towards a circular economy.
As one of the fastest-growing pollution reduction service providers in Asia, GA partners with local communities and corporations in the Philippines in collecting and converting low-value plastics into eco-friendly, durable, and affordable construction materials such as eco-bricks and pavers.
Environmental Finance recognised Green Antz for its:
GA aims to convert about 6,000 tonnes of plastic each year through 1,000 collection points that employ members of local communities.
While most recycling plants in the Philippines treat rigid plastics, Green Antz has set out to convert multi-layer plastic packaging such as sachets.
“Sachets don’t have any commercial value,” Green Antz CEO Rommel Benig said. “They’re not being recycled.”
This gave Rommel, who is an engineer by profession, the idea to establish a social enterprise focused on green initiatives tackling the Philippines’ sachet economy.
“We decided to embrace and eventually also pioneer the circular economy model in the Philippines. That was really the awakening and the inspiration behind why I started doing this,” he said.
“We are setting up our Eco-hubs across the country, in different locations, so that we can collect the plastics directly from the communities and also build a model that's socially inclusive,” Rommel said.
“We are addressing environmental problems associated with plastics and other solid waste and – at the same time – creating livelihood at a grassroots level. This is really part of our vision to become a quadruple bottom-line company where we are pursuing not just profit but also empowering people that have a purpose.”
In March 2022, AIC completed its cornerstone investment in Green Antz. The investment allows GA to tackle Asia’s burgeoning plastic waste problem, whilst offering cost-effective and environmentally responsible alternatives to traditional building materials.
Visit the Environmental Finance website for the full list of Sustainable Company Awards 2022 winners.
Tembo distribution partner network and geographic reach considerably expanded; additional commitments for 3,350 e-LV conversion kits. Toyota partnership cemented with a Design Services Agreement
Divestiture of non-core businesses in Aevitas to refocus on growth in Solar and key contract awarded on Edenvale Solar Farm
Cash balance at June 30, 2022 of $1.3m but increased to $8.9m post balance date following completion of divestitures and NASDAQ shelf issuance in July 2022
Annual group revenues (including discontinued operations in Aevitas) of $37.6 million down 3% on a constant AUD/USD FX basis
Underlying group EBITDA (including discontinued operations) declined to ($10.4) million from ($1.4) million in FY21, due to impacts of COVID lockdowns in key markets, especially Australia
Memorandum of Understanding (MOU) signed with state owned enterprise (SOE) in Jordan for 1,000 Tembo EV kits
VivoPower today announced its preliminary results for the fiscal year ended June 30, 2022.
Highlights for the fiscal year ended June 30, 2022:
A reconciliation of IFRS (“International Financial Reporting Standards”) to non-IFRS financial measures has been provided in the financial statement table included in this press release. An explanation of these measures is also included below, under the heading “About Non-IFRS Financial Measures.”
“The financial year ended June 30, 2022, was particularly challenging with numerous headwinds including strict COVID lockdowns in our key markets during the first half of the year, followed by supply chain shortages, extended logistics delays and COVID-19 related costs in the second half of the year which affected our ability to operate and deliver efficiently. Our financial results were as a consequence adversely affected, with revenues constrained and group operating losses exacerbated by a US$1.9m one off COVID driven loss in relation to the Bluegrass Solar project in Australia and foreign exchange. However, we did manage to execute on a number of important objectives in keeping with our strategic goals. This included securing a commercial definitive agreement with Toyota Australia, expanding our EV kit distribution network globally, adding further EV kit commitments and orders, as well as transitioning Tembo from a Netherlands centric operation to a business with an international mindset and presence with subsidiaries in Australia, the United Arab Emirates and Southeast Asia. Post balance date, we have been able to continue our execution momentum, including divesting of non-core business units in Australia, completion of a capital raising and signing our first EV kit memorandum of understanding in the Middle East. Furthermore, the tailwinds for our various business units have strengthened in the past few months, with developments such as the ratification of the Inflation Reduction Act in the United States and the added government impetus in Australia that is fuelling a record level of solar power development. No doubt, there will continue to be challenges to overcome in the short term, but we remain resolute as a team focussed on achieving our medium to long term strategic, financial and impact goals” said Kevin Chin, VivoPower’s Executive Chairman and Chief Executive Officer.
About Non-IFRS Financial Measures
Our preliminary results include certain non-IFRS financial measures, including adjusted EBITDA, adjusted net after-tax loss and adjusted EPS. Management believes that the use of these non-IFRS financial measures provides consistency and comparability with our past financial performance, facilitates period-to-period comparisons of our results of operations, and also facilitates comparisons with peer companies, many of which use similar non-IFRS or non-GAAP (“Generally Accepted Accounting Principles”) financial measures to supplement their IFRS or GAAP results. Non-IFRS results are presented for supplemental informational purposes only to aid in understanding our results of operations. The non-IFRS results should not be considered a substitute for financial information presented in accordance with IFRS, and may be different from non-IFRS or non-GAAP measures used by other companies.
The table included in this press release titled “Reconciliation of Adjusted (Underlying) EBITDA to IFRS Financial Measures” provides reconciliations of non-IFRS financial measures to the most recent directly comparable financial measures calculated and presented in accordance with IFRS.
| Year ended June 30 | ||
| Reconciliation of Adjusted (Underlying) EBITDA to IFRS Financial Measures (US dollars in thousands) | 2022 | 2021 |
| Net loss for the period | (21,569) | (7,958) |
| Income tax | (2,117) | (115) |
| Foreign exchange gains and losses | 4,709 | (2,093) |
| Interest income and expense | 3,894 | 2,504 |
| Non-cash share-based compensation | 1,900 | 1,078 |
| Restructuring and other non-recurring costs | 443 | 2,880 |
| Depreciation and amortization | 2,387 | 2,256 |
| Adjusted (Underlying) EBITDA | (10,352) | (1,448) |
The table included in this press release titled “Reconciliation of Adjusted (Underlying) net after-tax loss and adjusted (underlying) EPS to IFRS Financial Measures” provides reconciliations of non-IFRS financial measures to the most recent directly comparable financial measures calculated and presented in accordance with IFRS.
| Year ended June 30 | ||
| Reconciliation of Adjusted (Underlying) net after-tax loss and adjusted (underlying) EPS to IFRS Financial Measures (US dollars in thousands – except where indicated otherwise) | 2022 | 2021 |
| Net loss for the period | (21,569) | (7,958) |
| Restructuring and other non-recurring costs | 443 | 2,880 |
| Adjusted (Underlying) net loss for the year | (21,126) | (5,078) |
| Weighted average number of shares used in computing (loss)/earnings per share (shares) | 20,721,701 | 16,306,494 |
| Group Basic EPS (Statutory) (dollars) | (1.04) | (0.49) |
| Restructuring and other non-recurring costs per share (dollars) | 0.02 | 0.18 |
| Group Adjusted (Underlying) EPS (dollars) | (1.02) | (0.31) |
The table included in this press release titled “Profit and Loss Reconciliation from pre-divestiture basis to continuing operations” provides reconciliations of Total Group (including discontinued operations) financial measures to continuing operations financial measures.
| Profit and Loss Reconciliation from pre-divestiture basis to continuing operations (US dollars in thousands) | Total Group (pre-divestiture = Continuing + Discontinued) | Discontinued operations | Continuing operations |
| FY2022 | |||
| Revenue | 37,617 | 15,169 | 22,448 |
| Gross profit | 1,586 | 1,290 | 296 |
| Gross profit excluding Bluegrass COVID-related cost overruns | 3,467 | 1,290 | 2,177 |
| Profit / (loss) after tax | (21,569) | (369) | (21,200) |
| FY2021 | |||
| Revenue | 40,411 | 16,436 | 23,975 |
| Gross profit | 6,327 | 1,966 | 4,361 |
| Profit / (loss) after tax | (7,958) | (152) | (7,806) |
To read our full press release, and to keep up with all of VivoPower’s releases, visit the VivoPower Press Release page.
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VivoPower is pleased to announce that the Company and its wholly-owned subsidiary, Tembo e-LV B.V., have entered into a Memorandum of Understanding with a Jordanian Organisation to sell, distribute and market 4×4 Toyota vehicles which have been fully electrified by Tembo (Electrified Vehicles) and/or the Tembo electrification conversion kit for Toyota 4×4 vehicles (Conversion Kits).
Under the proposed agreement, the Jordanian Organisation intends to sell 1,000 Tembo e-LV conversion kits from execution of this agreement until 30th September 2027. The parties to the proposed agreement will work to finalise a Definitive Agreement as soon as practicable, and prior to 31st December 2022, unless the parties agree to an extension. All purchase commitments will be subject to the terms and conditions set forth in the Definitive Agreement.
In October 2021, VivoPower established itself in the United Arab Emirates (UAE) to extend its services to the Middle East and surrounding markets. Today’s announcement is the first significant agreement for the subsidiary and progression of the company’s growth strategy for the region.
Tembo’s conversion kits transform diesel-powered Toyota Land Cruiser and Hilux vehicles into ruggedised electric light vehicles for use in mining and other hard-to-decarbonise sectors. Tembo e-LV products are a key component of VivoPower’s turnkey net-zero solutions for the decarbonisation of corporate and public organisations.
Kevin Chin, Executive Chairman and CEO of VivoPower, said: “We are very pleased to move forward on gaining a new partner for Tembo in the region. This is in line with our strategy to expand our commercial activities and operations in the Middle East, the largest market for Toyota Land Cruisers in the world, and naturally follows the establishment of our local subsidiary for the region in the UAE in October last year. We look forward to cementing this partnership and servicing Jordan with our decarbonisation solutions.”
To read our full press release, and to keep up with all of VivoPower’s releases, visit our VivoPower Press Release page.
Arowana is pleased to announce that we have been recertified as a B Corporation, with an upgraded verified score of 138.8—significantly higher than our initial score of 84.2 in 2018!
As one of 5,470 certified B Corps in the world—and ranking us amongst the highest of B Corps globally—we are proud to be sustainability leaders who are committed to driving positive change using business as a force for good.
Our upgraded score reflects our continued efforts and commitment to improving our positive social, environmental, and economic impact for all stakeholders through our people, companies, and business practices.
This recertification is an important milestone for us as we continue to grow as a company and strive for greater levels of impact in the world.
Visit the Arowana website for more news and insights.
