VivoPower International PLC Announces UAE Expansion
October 21 2021 - 9:00AM
VivoPower International PLC (NASDAQ: VVPR) (“VivoPower”, the
“Company”) is pleased to announce that it has established a
subsidiary in the United Arab Emirates (UAE) as it expands its
capabilities to service the Middle East and surrounding markets.
The Company’s new subsidiary entity is located at the world’s
premier free trade zone, the Dubai Multi Commodities Centre
(“DMCC”). The DMCC has been recognised with the Global Free Trade
Zone of the Year award for the past seven years in a row by the
Financial Times fDI Magazine. It is also the Government of Dubai
Authority on commodities trade and enterprise.
Kevin Chin, Executive Chairman and CEO of VivoPower, said: “The
Middle East is the largest market in the world for Toyota Land
Cruisers, and we are very pleased to establish a presence here.
Increasing our physical footprint allows us to expand our
capabilities to effectively service this strategically important
market. Furthermore, the UAE Government has just announced its
landmark Net Zero 2050 Strategic Initiative with Dh600billion
(US$200billion) to be invested in clean and renewable energy
solutions over the next 30 years. Aside from covering the Middle
East, Dubai will serve as a critical logistical hub to service the
African and Indian sub-continent markets. We are grateful to our
partners and other counterparts in Dubai who have seamlessly helped
us set up our operations in a business-friendly manner while
safeguarding essential health and safety protocols. We look forward
to servicing this very important region with our sustainable energy
solutions and contributing to the Net Zero 2050 Strategic
Initiative.”
About VivoPower
VivoPower is a sustainable energy solutions company focused on
electrification solutions for customised and ruggedised fleet
applications, and 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.
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 increased
capabilities or services, the potential value of establishing a
presence in the regions described in this communication, 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
Investor Relations
shareholders@vivopower.com
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