Press Release

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

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.
Marija Maisch

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.