VivoPower International PLC (NASDAQ: VVPR) jumped around 5% in pre trading session on Monday as it is delighted to share an update on Tembo e-LV B.V., its fully owned subsidiary, including strategic investments, finance, and development (Tembo).
The Design Services Agreement with Toyota Australia for the LandCruiser 70 Series has now been completed by Tembo and Toyota Motor Corporation Australia Limited (Toyota Australia). As part of their dedication to a sustainable future, VivoPower and Toyota Australia will both carry on their respective opportunity investigations.
AWN Holdings Limited (AWN), VivoPower’s largest stakeholder, has agreed to provide further bridge funding of US$3 million. This money will be utilized for Tembo’s expansion, including the design, production, and delivery of conversion kits. AWN has also agreed to change the conditions of the loan and bridge financing facilities such that the repayment date would now be 1 April 2025, an additional 18 months from now.
Additionally, Tembo has acquired a strategic investment from a UAE-based family office investor with a focus on sustainability, with an initial investment of up to €2 million that is expected to conclude by 31 March 2023. VivoPower will continue to own the majority of Tembo’s shares.
Sunnova Announces Fourth Quarter and Full Year 2022 Earnings Release Date and Conference Call
A leading Energy as a Service (EaaS) provider, Â Sunnova Energy International Inc. (NYSE:NOVA) will release its fourth quarter and full year 2022 results after the markets close on February 22, 2023, to be followed by a conference call to discuss the results at 8:00 a.m. Eastern Time on February 23, 2023.
An established U.S. Energy as a Service (EaaS) supplier announces that USAA Alliance Services is now offering its EaaS solutions to USAA members all around the country. Members of USAA will profit from the dedication of both businesses to providing excellent customer service as well as from the accessible, dependable, and clean energy produced on their rooftops.
A quote from Sunnova’s founder and CEO, William J. (John) Berger: “Energy needs among homeowners are rising at a time when utility costs are soaring and system instability is happening more frequently. The SolarEdge Home Battery’s inclusion in our Energy as a Service offering is a significant advancement in our quest to provide very reliable, market-leading solutions that satisfy homeowner desire for a more energy-efficient and independent way of life.”
SolarEdge (NASDAQ:SEDG) Begun Selling New Battery Cells Designed Exclusively
The SolarEdge Technologies, Inc. (NASDAQ:SEDG) Energy Storage division has announced that it has begun selling new battery cells designed exclusively for Energy Storage applications.
The cells are produced at the company’s brand-new Sella 2 battery cell manufacturing plant in South Korea. In this perspective, it is crucial to remember that SolarEdge built the Sella 2 factory largely to expand its capacity for manufacturing lithium-ion batteries and strengthen its position in the battery cell manufacturing sector.
The market for stationary storage will grow from around 45 gigawatt-hours (GWh) in 2022 to 164 GWh in 2030, predicts SolarEdge. By extending its product range and meeting the growing demand, SolarEdge hopes to profit from the increasing battery storage market in this case.
With the support of the recently constructed Sella 2 plant, the company has been able to handle supply-chain issues while simultaneously increasing its manufacturing capacity. Sella 1, the production facility owned by SolarEdge in Israel, reached capacity in the second quarter of 2021 before Sella 2 was built. The company also increased its ability to produce in Vietnam.
These developments will provide the company a competitive edge and allow SolarEdge to meet the rising demand for solar products throughout the globe.