Market Overview

VivoPower International PLC Announces Closing of AU$5 Million Debtor Finance Facility in Australia

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LONDON, Aug. 28, 2018 (GLOBE NEWSWIRE) -- VivoPower International PLC (NASDAQ:VVPR) ("VivoPower"), an international solar power company, is pleased to announce that its wholly-owned subsidiary in Australia, Aevitas Group Limited ("Aevitas") has secured a AU$5 million debtor finance facility to support the growing working capital requirements of its power services businesses, J.A. Martin Electrical Pty Limited and Kenshaw Electrical Pty Limited.

Aevitas is located in the Hunter Valley and Newcastle region of Australia which is experiencing strong growth in infrastructure investment and recovery in the mining sector. As a provider of critical energy infrastructure to a large and diverse customer base, Aevitas has experienced 47% year-over-year revenue growth to June 30, 2018 and sees continued expansion in the year ahead. The debtor finance facility provides cost effective and scalable support to planned growth and enables Aevitas to pursue increasingly numerous and larger opportunities.

"We are very pleased that Aevitas has been able to successfully secure this financing which ensures access to sufficient working capital necessary to capture opportunities arising from strong industrial growth in their market, including the recently announced expansion into solar engineering design, procurement and construction (EPC)", said Carl Weatherley-White, Chief Executive Officer of VivoPower International PLC.

About VivoPower

VivoPower is an international solar power producer and storage company that is developing, building and operating projects on a global basis in a capital efficient manner. VivoPower does this by aggregating photovoltaic (PV) solar projects underpinned by long-term power purchase agreements, arranging corporate and project financing, engineering, design and equipment procurement and managing the construction and development of such solar PV projects.

About Aevitas

Aevitas is, a wholly-owned subsidiary of VivoPower in Australia. Aevitas provides critical energy infrastructure generation and distribution solutions including the design, supply, installation and maintenance of power and control systems, with an increasing focus on solar, renewable energy, and energy efficiency. Founded in 1968, J.A. Martin Electrical Pty Limited is a division of Aevitas that specializes in delivering industrial electrical engineering and power services, including solar EPC.  Kenshaw Electrical Pty Limited, founded in 1981, provides a wide range of power generation solutions, products and services across the entire life-cycle for electric motors, power generation, mechanical equipment and non-destructive testing. 

Forward-Looking Statements

This communication includes certain statements that may constitute "forward-looking statements" for purposes of the U.S. federal securities laws.  Forward-looking statements include, but are not limited to, statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions.  The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intends," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.  Forward-looking statements may include, for example, statements about the benefits of the events or transactions described in this communication and the expected returns therefrom. These statements are based on VivoPower's management's current expectations or beliefs and are subject to risk, uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive and/or regulatory factors, and other risks and uncertainties affecting the operation of VivoPower's business. These risks, uncertainties and contingencies include changes in business conditions, fluctuations in customer demand, changes in accounting interpretations, management of rapid growth, intensity of competition from other providers of products and services, changes in general economic conditions, geopolitical events and regulatory changes and other factors set forth in VivoPower's filings with the United States Securities and Exchange Commission. The information set forth herein should be read in light of such risks. VivoPower is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements whether as a result of new information, future events, changes in assumptions or otherwise.

Contact

Julie-Anne Byrne
Investor Relations
shareholders@vivopower.com

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