VivoPower Announces Definitive Distribution Agreement in Ghana for Tembo EUVs
27 Junho 2023 - 10:00AM
VivoPower International PLC (NASDAQ: VVPR, the “Company”) is
pleased to announce that it has signed a definitive agreement
(“Agreement”) with Fourche Maline Ltd (“Fourche Maline”), a fully
indigenous Ghanaian engineering and technical services company for
it to market, distribute and service Tembo-powered electric utility
vehicles (“EUV”) across Ghana. Fourche Maline provides engineering
and technical services in the local Ghana market to a number of the
world’s leading companies in the Oil & Gas, Mining, Power &
Energy, and Food & Beverage sectors.
Under the Agreement, Fourche Maline has committed to sell a
total of 2,500 Tembo EUV conversion kits from execution of this
Agreement over the next 5 years across Ghana and West Africa.
Fourche Maline will be responsible for acquiring utility vehicles,
converting the vehicles to ruggedised EUVs using Tembo conversion
kits, selling the units to end-customers and providing after-sale
servicing and maintenance with support from Tembo. Sectors where
the Tembo EUV will be used are wide-ranging, including Mining but
also Power, Oil & Gas, Government services, Insurance and
Agriculture.
Ghana is one of the largest mining countries in the world and
the number one gold mining country in Africa. The Hilux and
LandCruiser are widely used in the local mining industry and
several international mining companies with a local presence have
declared global sustainability goals. Ghana has also been a
proponent of Electric Vehicle (“EV”) adoption with the Ghana Energy
Commission launching a “Drive Electric Initiative” (DEI-Gh) to
foster development of the EV market and infrastructure.
The Tembo EUV kits will transform new and second-hand
diesel-powered 4×4 LandCruiser and Hilux vehicles into ruggedised
EUVs. Tembo EUV conversion kits are a key component of VivoPower’s
turnkey sustainable energy solutions, designed to help corporate
customers accelerate towards their net zero carbon goals and to
achieve cost savings.
Kevin Chin, VivoPower’s Executive Chairman and Chief
Executive Officer,
said:
“We are very pleased to contribute towards the acceleration of
Ghana achieving its net-zero goals with our Tembo EUV23 kits. Given
the large mining sector in Ghana and surrounding West African
nations, there is widespread use of the Hilux and LandCruiser
models for mining as well as other sectors. Accordingly, there is a
sizeable opportunity for electrification of utility vehicle fleets.
We look forward to working closely with the Fourche Maline team to
deliver not just Tembo EUV kits but also our broader sustainable
energy solutions to Ghana, assisting the Ghanaian government as
well as large industrial sector companies achieve their energy
transition goals over the next five years and beyond.”
Matilda Agyemang
Sarfo, Fourche
Maline’s Board
Director,
said:
“We are thrilled about the collaboration with VivoPower to
implement electric mobility solutions specifically designed for
aggressive and rugged terrains in Ghana and West Africa. This
partnership represents a significant milestone as Ghana is the
largest gold producer in Africa, and its mining sector is dedicated
to a shift towards sustainable transportation. We have already
initiated discussions with some key local mining players who are
keen to test Tembo’s electrification solution.”
About VivoPower
VivoPower is an award-winning global sustainable energy
solutions B Corporation company focused on electric solutions for
customised and ruggedised fleet applications, battery and
microgrids, 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 has operations and personnel in Australia,
Canada, the Netherlands, the United Kingdom, the United States, the
Philippines and the United Arab Emirates.
About Fourche Maline
Fourche Maline is a fully indigenous Ghanaian engineering and
technical services company dedicated to the optimal performance of
a wide range of industrial and commercial services for clients in
the Oil and gas, Mining, Food and Beverage and Diplomatic
missions.
All trademarks referenced herein are the property of their
respective owners.
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 characterisations 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
achievement of performance hurdles, or 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
Shareholder Enquiries
shareholders@vivopower.com
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