VivoPower International PLC Announces New and Expanded Tembo e-LV Development and Assembly Facility to Serve Growing Customer Base
February 08 2022 - 8:20AM
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.”
About VivoPower
VivoPower is a sustainable energy solutions
company focused on battery storage, electric solutions for
customized and ruggedized fleet applications, solar and critical
power technology and services. The Company's core purpose is to
provide its customers with turnkey decarbonization 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.
Forward-Looking Statements
This communication includes certain statements
that may constitute “forward-looking statements” for purposes of
the United States 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 potential expansion of Tembo’s
operations, the benefits of its new location in the Eindhoven
region, and future customer orders and product deliveries. 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
Media Enquiries
vivopower@secnewgate.co.uk
Sophie Morello / Jessica Hodson Walker / Richard Bicknell
VivoPower (NASDAQ:VVPR)
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