Benzinga | Jul 2, 2021 09:15AM EDT

VivoPower Reports Secured Settlement, Full Control Of Joint Venture US Solar Development Portfolio

VivoPower International PLC (NASDAQ:VVPR, the &ldquo, Company&rdquo, ))) is pleased to announce that the Company has secured a settlement resulting in it gaining full ownership of the remaining 50% of the equity interest in its solar development portfolio in the United States (the "Portfolio"). Ownership of the Portfolio was previously shared 50/50 with the Company's former joint venture partner, Innovative Solar Systems LLC ("ISS").

Ownership of the remaining 50% interest in the Portfolio was acquired by the Company from ISS for nominal consideration under the terms of the settlement between the Company and ISS.