Full Press Release Details
Caret Digital Secures CAD$140m Definitive Binding Investment Commitment from Global Alternative Investment Group, GEM Global Yield LLC
investment commitment is in the form of a share subscription facility from GEM Global Yield LLC SCS ("GGY") and is subject
to a separate listing of Caret Digital on a Canadian stock exchange
shareholding will be capped at 9.9%
will be invested at the Caret Digital subsidiary level and hence non-dilutive for VivoPower shareholders
from the investment will be used to execute upon Caret Digital's Power-to-X strategy ("P2X") which seeks to activate
the highest and best use cases for renewable power capacity
phase of Caret Digital's P2X strategy is building out capacity including data centre infrastructure for DOGE coin mining
phase of Caret Digital's P2X strategy is AI enabled data centres
coin mining is consistent with Caret Digital's Power-to-X strategy that seeks to activate the highest and best use cases for renewable
January 13, 2025 (GLOBE NEWSWIRE) - VivoPower International PLC (Nasdaq: VVPR) ("VivoPower" or the "Company")
announced today that its wholly owned subsidiary, Caret LLC. (trading as "Caret Digital"), has secured a CAD$140m (approximately
US$100m) definitive and binding investment commitment from Luxembourg headquartered alternative investment group, GGY.
from the investment will be used to execute on and build out Caret Digital's Power2X strategy, including in its first phase, the
mining of DOGE coin, as well as for working capital and general corporate purposes.
shareholders had previously approved a spin-off of Caret Digital, in whole or part, as well as a special dividend during the Annual General
Meeting held in December 2023. The Company will provide further updates in relation to the progress of the spin off via a reverse merger
and the consequences for VivoPower and its stakeholders, including any special dividend shares for VivoPower shareholders.
in 2014 and listed on Nasdaq since 2016, VivoPower is an award-winning global sustainable energy solutions B Corporation company focussed
on electric solutions for off-road and on-road customised and ruggedised fleet applications as well as ancillary financing, charging,
battery and microgrids solutions. VivoPower'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 covering Australia, Canada, the Netherlands,
the United Kingdom, the United States, the Philippines, and the United Arab Emirates.
LLC, (trading as Caret Digital) a wholly owned subsidiary of VivoPower, and has a Power-to-X strategy involving the development of renewable
power infrastructure that is vertically integrated with high energy consumption use cases. In the first phase of its Power-to-X strategy,
Caret Digital is building up capacity and infrastructure to mine DOGE coin, aligning with the growing demand for sustainable blockchain
Emerging Markets ("GEM") is a $3.4 billion alternative investment group with offices in Paris, New York, and Nassau (Bahamas).
GEM manages a diverse set of investment vehicles focused on emerging markets and has completed over 580 transactions in 70 countries.
Its family of funds and investment vehicles provide GEM and its partners with exposure to: Small-Mid Cap Management Buyouts, Private
Investments in Public Equities, and select venture investments.
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