VivoPower establishes UAE subsidiary at the world’s premier free trade zone, DMCC in Dubai
UAE has announced its US$200bn Net Zero 2050 Strategic Initiative
VivoPower will service Middle East, Africa, and Indian sub-continent markets from Dubai hub
LONDON, Oct. 21, 2021 (GLOBE NEWSWIRE) -- 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
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