On Wednesday, VivoPower International (NASDAQ: VVPR), the power infrastructure developer, said that the combined company, following its merger with Future Automotive Solutions and Technologies (FAST), would be headquartered in the United Kingdom.
VivoPower said it hopes to qualify for potential government incentives in the UK, which has a target to decarbonize its electricity sector by 2030.
“This is in an effort to qualify for significant and attractive potential UK Government incentives that have been announced,” the company said in a statement.
Earlier this month, VivoPower signed a non-binding agreement to merge with Canada-based hydrogen technology firm FAST, which would create a $1.13 billion combined company.
After the deal is completed, VivoPower will acquire FAST and issue restricted shares as consideration. FAST shareholders will own 51% of the combined company.
Shares of VivoPower (NASDAQ: VVPR) were up 3.7% in trading after the bell.
(Source: Reuters)
Edward Cooke is a financial analyst, freelance writer, and editor. He has six years of experience in financial journalism. He has an in-depth understanding of equities markets, tracking major indices and providing real-time analysis on stock price movements, corporate earnings, and market sentiment.
