Partnership objective is to drive market adoption and sales in the strategically important Australian market, as Tembo progresses toward its US$838 million potential spin-off via a public listing

HMBEV is Australia’s leading and most trusted independent electric vehicle (EV) corporate consultancy and advocacy group in Australia

HMBEV’s corporate partnerships include AMPOL, owner of Australia’s largest transport fuel supply network with over 1,800 outlets, and AmpCharge, the fastest growing charging network in Australia

Strategic partnership will enhance Tembo’s commercial sales network for the Tembo Tuskers, Australia’s best value for money 100% electric utility vehicle (EUV)

LONDON and SYDNEY, January 16, 2026 – VivoPower International PLC (NASDAQ: VVPR) (“VivoPower” or the “Company”), a leading B Corp-certified global sustainable energy solutions company, is pleased to announce that its electric vehicle subsidiary, Tembo e-LV B.V. (“Tembo”), has entered a strategic partnership agreement with Help Me Buy An EV (HMBAEV), Australia’s pre-eminent and most trusted EV corporate consultancy and advocacy group.

This partnership marks a critical milestone in Tembo’s go-to-market sales acceleration strategy, directly targeting the fast-growing Australian light utility vehicle pick-up truck market. Through the partnership, HMBEV will be a preferred strategic partner for supporting hands-on trials, customer education, and market engagement initiatives to accelerate adoption and sales across B2B, government, and commercial fleet segments. 

Driven by regulatory changes, Australia is experiencing a fast-growing shift towards electrification, yet commercial and rural sectors remain underserved. HMBAEV, led by industry expert Brendan Doyle, has established itself as a trusted independent voice in the Australian EV ecosystem, recently collaborating with major energy players like Ampol to deliver EV infrastructure and education.

By leveraging HMBAEV’s deep consumer trust and its Centre of Excellence at Sydney Motorsport Park, Tembo secures an immediate, high-visibility platform to showcase the Tusker’s capabilities to a market hungry for rugged, zero-emission alternatives to traditional internal combustion utility vehicles.

The Tembo Tusker platform delivers a rugged, cost-effective electric utility vehicle solution purpose-built for demanding commercial and fleet applications. Designed and engineered for harsh operating environments, the Tusker offers reliable performance, a low total cost of ownership, and reduced maintenance relative to internal combustion alternatives. Its suitability for fixed and semi-fixed routes enables efficient integration with existing charging infrastructure, while its modular design supports a wide range of use cases across logistics, mining, construction, utilities, and public-sector fleets. Backed by local trials, fleet onboarding, and after-sales support, the Tusker platform provides fleet operators with a practical, scalable pathway to decarbonize operations without compromising safety, payload, or operational reliability. Australia represents a priority market for Tembo’s commercial EV offering, reflecting strong demand across mining, construction, and public-sector fleets for rugged, zero-emission vehicles.

Chris Mallios, Chief Operating Officer of VivoPower and Tembo, said: “Australia represents one of the most demanding and technically rigorous markets globally for light utility vehicles and pickup trucks. Partnering with HMBEV allows us to position the Tembo Tusker not simply as a vehicle, but as part of a broader education-led adoption ecosystem that addresses real-world operational requirements. This collaboration provides strong third-party validation of the robustness, durability, and readiness of our technology, while accelerating market confidence as we scale our ruggedized electric mobility platform globally. It also supports our operational roadmap as we prepare for Tembo’s planned Nasdaq listing.”

Brendan Doyle, Managing Director of Help Me Buy An EV, said: “Partnering with Help Me Buy an EV gives Tembo an immediate and decisive advantage in the Australian market: instant credibility and trust. Our team has rapidly become one of the most respected independent sources of EV expertise, vehicle appraisal, validation, and customer onboarding. By combining forces, we can precisely match the right Tembo vehicles to the right businesses, backed by industry-leading education and rigorous testing. This partnership allows Tembo to enter the market with a trusted, expert-led presence, accelerating adoption and reinforcing confidence in both our brand and their products from day one.”

About Help Me Buy an EV

Help Me Buy an EV stands as Australia’s premier EV education, experience, and onboarding partner, working across consumer, government, business, and commercial sectors. Help Me Buy an EV has onboarded thousands of Australians and businesses—large and small—into the electric vehicle and new energy ecosystem. In 2025, Help Me Buy an EV announced a partnership with Ampol, Australia’s largest fuel and service station company, collaborating with them as they transition their operations and clients in a staged effort from combustion vehicles and fuels to the electric ecosystem.

Help Me Buy an EV has staged some of the biggest electric vehicle events, where education and further adoption are at the heart of everything they do. Regarded as some of the leading experts in Australia, the Help Me Buy an EV team is growing to cover more and more parts of the new energy ecosystem, while also working very closely with OEMs in China to understand and educate on the Australian electric vehicle and new energy landscape

To read our full press release, and to keep up with all of VivoPower’s releases, visit our Press Releases page.

Media Contacts

VivoPower: media@vivopower.com

Target closing date in March 2026, subject to SEC and Nasdaq review and approval

Becoming a publicly listed company on Nasdaq provides Tembo with its own platform to scale its growth globally

Combined entity to be named Tembo Group N.V. and expected to have symbols TEMB and TEMBW

Tembo EUV Kits delivered and installed with leading safari partners in Africa, including Asilia and The Safari Collection

Tembo Tusker sales and deliveries have commenced in Australia

Tembo Sarao E-Jeepney partnership receives confirmation of support from the Philippines Department of Transport following instructions from the Office of the President

VivoPower International PLC (Nasdaq: VVPR) (“VivoPower” or the “Company”), today announced that it has reached a major milestone with respect to the proposed business combination between its subsidiary, Tembo e-LV (“Tembo”), and the special purpose acquisition company, Cactus Acquisition Corporation I (OTC: CCTSF) (“CCTS”), being the confidential submission of a registration statement on Form F-4 relating to the business combination (the “Registration Statement”) with the U.S. Securities and Exchange Commission (“SEC”).  The submission of the Registration Statement reflects an important step towards Tembo becoming a publicly listed company on Nasdaq and provides Tembo with its own platform to scale its growth globally.

The combined entity following the business combination will be named Tembo Group N.V. and is expected to have its ordinary shares and public warrants listed on Nasdaq under the ticker symbols “TEMB” and “TEMBW”, respectively. The business combination is expected to close in March 2026, subject to the satisfaction or waiver of certain closing conditions, including the Registration Statement being declared effective by the SEC, receipt of approval of the listing of the combined company’s securities from Nasdaq, receipt of approval from CCTS’s shareholders and the satisfaction of other regulatory and customary approvals.

Tembo has been seeing significant progress in terms of customer adoption across Tembo’s product suite, encompassing the Tuskers, EUV conversion kits and E-jeepneys on the ground in Africa, Australia and the Philippines. This demonstrates that Tembo’s technology is affordable, durable, operational, and in demand from customers in our focus markets. VivoPower remains committed to executing on our promise to deliver both shareholder value and real-world decarbonization solutions.

 In the last quarter, Tembo was engaged in multiple EUV kit conversions and delivered the first EUV conversion kits to its safari partners in Africa. These partners include market leaders Asilia and The Safari Collection, enabling them to be one of the first safari companies with fully electric-converted Land Cruisers.  In addition, Tembo has opened a new office in Nairobi, Kenya and initiated the recruitment of engineers on the ground to support its customers, with assistance from its local partner, Associated Vehicle Assemblers (AVA).

Furthermore, Tembo has consummated sales of its fully electric utility pick up vehicle, the Tembo Tusker in Australia, following the successful achievement of homologation under updated Australian regulatory requirements.

In the Philippines, Tembo’s partnership with market leader Sarao Motors, has received a confirmation of support from the Philippines Department of Transport following instructions from the Office of the President.  This follows the delivery by Tembo of electric jeepneys designed with modern electric architecture but built with the traditional exterior and interior design.  These developments have paved the way for a prioritization of sales efforts in 2026, with Tembo working closely with Sarao Motors on inbound sales inquiries.

To read our full press release, and to keep up with all of VivoPower’s releases, visit our Press Releases page.

Contact 

Shareholder Enquiries 

shareholders@vivopower.com

Tembo has opened a new office in Nairobi, Kenya, expanding its global operations and establishing a permanent presence in East Africa.

The Nairobi office will support Tembo’s activities across Kenya, Tanzania, and neighboring markets, where the company is active in fleet electrification and energy system solutions, including applications for safari tourism and utility vehicle fleets.

The new location enables Tembo to support existing partnerships more closely, improve regional coordination, and engage with new commercial opportunities as they arise.

Kenya provides a practical base for regional operations, with established business infrastructure, strong connectivity, and access to a skilled local workforce. The Nairobi office will serve as a coordination point for projects and partners across Sub-Saharan Africa.

With this addition, Tembo now operates across Europe, North America, the Middle East, Africa, and Australia, supporting customers through a globally distributed team.

Kenya Office
Delta Corner, Oracle Tower, 13th Floor
Chiromo Road, Westlands
P.O. Box 13796-00800
Nairobi, Kenya

The Safari Collection is a world-renowned luxury safari company and owner of the Giraffe Manor

This is another leading safari company in Africa that has placed an order with Tembo

The first order was from Asilia Africa announced in February 2025

Tembo's solutions selected to drive sustainable safari experiences across Kenya

LONDON, April 28, 2025 (GLOBE NEWSWIRE) -- VivoPower International PLC (NASDAQ: VVPR, the “Company”) is pleased to announce that its wholly-owned subsidiary, Tembo e-LV, has secured an inaugural order for its EV conversion kits from The Safari Collection, owner of luxury properties in Kenya, including the Giraffe Manor, Sasaab, Sala's Camp and Solio Lodge.

Established in 2009 by conservationists and safari entrepreneurs, Tanya and Mikey Carr-Hartley, The Safari Collection is a privately owned portfolio of distinctive luxury camps and lodges set in some of the most breathtaking locations across Kenya. Born from a deep passion for sharing the magic of Africa with the world, the company has grown into a leading name in bespoke safari experiences. With a strong focus on sustainable environmental practices and community empowerment, The Safari Collection plays a vital role in creating meaningful economic opportunities for the people of Kenya, all while preserving the extraordinary natural heritage of the region.

Tanya Carr-Hartley, Co-Founder of The Safari Collection, said: “At the Safari Collection, our commitment to preserving Kenya’s wild beauty goes hand in hand with innovation. Partnering with Tembo to electrify our vehicle fleet is a natural extension of our mission – to offer world-class safari experiences while treading lightly on the land we so deeply cherish. This is not just about mobility; it’s about sustainability, legacy, and protecting the places we love for future generations.”

Mikey Carr-Hartley, Co-Founder of The Safari Collection, said: “Our lodges are located in some of the most pristine, remote landscapes in Africa. Switching to electric safari vehicles helps ensure these extraordinary ecosystems remain intact – not only for our guests today, but for our children tomorrow. After having evaluated a number of alternative options, we decided to proceed with Tembo as their solutions were superior and more cost effective than other offerings in the market.”

Matthew Nestor, VivoPower’s Global Head of Partnerships and Sales, said: “We’re thrilled to partner with The Safari Collection, an organisation whose values of conservation, innovation, and local stewardship closely mirror our own. By electrifying their safari fleet, they’re not just leading by example in eco-tourism, but also proving that luxury and sustainability can go hand in hand, even in the most rugged environments.”

About VivoPower

Established 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.

About Tembo

Tembo electric utility vehicles (EUVs) are a 100% electric solution for ruggedised and/or customised applications for fleet owners in the mining, agriculture, energy utilities, defence, police, construction, infrastructure, government, humanitarian, and game safari industries. Tembo provides safe, high-performance off-road and on-road electric utility vehicles. Its core purpose is to provide safe and reliable electrification solutions for utility vehicle fleet owners, helping to perpetuate useful life, reduce costs, maximise return on assets, meet ESG goals and seeks to further the circular economy. Tembo is a subsidiary of VivoPower, a Nasdaq-listed B Corporation.

About The Safari Collection

Founded by Tanya and Mikey Carr-Hartley in 2009, The Safari Collection is a family-run portfolio offering immersive experiences at six unique properties in the finest locations in Kenya. The Carr-Hartleys are a family passionate about adventure, the spectacular un-spoilt wilderness areas of their home country and protecting it for future generations. It is from this pioneering spirit and love for Kenya’s wildest corners that The Safari Collection was born. The energy and passion of their dynamic team flows through everything that they do. The Safari Collection's authentic, first-hand knowledge spans the entire region to create unique, cutting-edge experiences.

Contact 

Shareholder Enquiries 

shareholders@vivopower.com 

Agreement with Green Watt represents Tembo’s first deal in fast growing Saudi Arabian market

Green Watt has signed agreement with Tembo to sell and distribute 1,600 Tembo EUV units in the Kingdom of Saudi Arabia (KSA) up to 2030

Green Watt’s customer base includes Aramco, the world’s largest oil company, Halliburton, Honeywell, Baker Hughes and the Saudi Electric Company

LONDON, April 11, 2025 (GLOBE NEWSWIRE) -- VivoPower International PLC (Nasdaq: VVPR) (“VivoPower” or the “Company”) announced today that its subsidiary, Tembo e-LV (“Tembo”), has signed a Definitive Distribution Agreement (“Agreement”) worth up to an estimated US$85 million with leading Saudi Arabian energy and environmental solutions provider Green Watt to sell and distribute 1,600 Tembo electric utility vehicle (EUV) units across the Kingdom of Saudi Arabia over the next five years.

Green Watt is a KSA-based company established in 2016 and specializes in the areas of renewable energy, energy conservation, and environmental sustainability. With strong emphasis on environmental protection, quality and transparency, Green Watt assists its clients to achieve their financial and environmental objectives. By implementing energy conservation measures (ECMs), Green Watt ensures reduced power consumption, reduced cost and carbon footprint. In addition to that, Green Watt provides solutions ranging from stand-alone PV systems to complex hybrid applications. Customers of Green Watt include Aramco, Halliburton, the Saudi Electric Company, Honeywell, Baker Hughes, JAL International, and Al Mansoori, among others.

The strategic distribution agreement between VivoPower and Green Watt reflects both companies' shared commitment to advancing sustainable energy solutions in the Kingdom of Saudi Arabia.

Saudi Arabia presents an opportunity for corporate partnerships in sustainable energy solutions, driven by strong government support and ambitious carbon reduction targets aligned with global sustainability goals. The widespread use of ruggedized utility vehicles, such as the Land Cruiser 70 series, by law enforcement and government agencies, as well as the mining, oil and gas and other industrial sectors means there is a significant addressable market for electrification.

With numerous agencies and corporates operating under vehicle lease structures, converting used Land Cruisers to electric and re-leasing them offers a practical, cost-effective pathway to electrification. This model not only lowers operational costs but also supports the KSA’s transition to a greener economy.

Nazir Muhammad, CEO of Green Watt, said: “At Green Watt, we believe in electrifying the future of mobility, not just in words but in action. Our partnership with Tembo marks a decisive step towards cleaner, smarter transportation solutions across emerging markets. Together, we’re not only reducing emissions but also empowering communities with sustainable technologies that work for people and the planet.”

Matthew Nestor, Director, Head of Global Partnerships at VivoPower, said: “This partnership with Green Watt is a strategic milestone in our mission to deliver turnkey sustainable energy solutions to the Kingdom of Saudi Arabia. Nazir and the Green Watt team share our commitment to decarbonizing transport in a commercially viable and socially impactful way. By joining forces, we’re accelerating the deployment of Tembo’s electrification technology in a country committed to decarbonisation, where it can make a transformative difference.”

About VivoPower 

Established 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.

About Tembo

Tembo electric utility vehicles (EUVs) are a 100% electric solution for ruggedised and/or customised applications for fleet owners in the mining, agriculture, energy utilities, defence, police, construction, infrastructure, government, humanitarian, and game safari industries. Tembo provides safe, high-performance off-road and on-road electric utility vehicles. Its core purpose is to provide safe and reliable electrification solutions for utility vehicle fleet owners, helping to perpetuate useful life, reduce costs, maximise return on assets, meet ESG goals and seeks to further the circular economy. Tembo is a subsidiary of VivoPower, a Nasdaq-listed B Corporation.

Contact 
Shareholder Enquiries 
shareholders@vivopower.com

VivoPower to remain listed on Nasdaq and spin-off Tembo and Caret Digital as part of a revised US$180 million takeover proposal

Energi Holdings has amended takeover proposal to be a proportional offer to acquire 80% of the unaffiliated free float shares of VivoPower, subject to completion of due diligence

VivoPower free float shares would consequentially be reduced by 80% with Energi Holdings becoming the largest shareholder

Energi to be supportive of two VivoPower business spin-offs: Tembo SPAC merger with an equity value of $838 million and Caret Digital spinoff with an implied market cap of $250 million

LONDON, April 09, 2025 (GLOBE NEWSWIRE) -- VivoPower International PLC (Nasdaq: VVPR) ("VivoPower" or the "Company") announced today that Energi Holdings Limited (“Energi”) has amended its non-binding takeover proposal to be a proportional offer to acquire 80% of the unaffiliated free float shares of VivoPower. Energi would consequentially become the largest and majority shareholder of VivoPower, whilst the unaffiliated free float would reduce by 80%.

Energi also agreed that it will be supportive of VivoPower’s plans to complete the Tembo SPAC transaction and the Caret Digital spin-off.

This announcement represents a clarification update on the prior unsolicited, non-binding all-cash offer made by Energi to acquire all non-affiliated free float shares of VivoPower. Energi is an Abu Dhabi-headquartered energy solutions company established in 2014. Energi has US$1 billion of revenues and offices in the Middle East, Africa, South Asia, Europe, and Southeast Asia (www.energi.ae) The proposed transaction is subject to, among other things, satisfactory completion of due diligence and the negotiation and execution of a definitive transaction document. There can be no assurance that a definitive agreement will be entered into or that the proposed transaction will be consummated on the terms currently contemplated, or at all.

Tembo SPAC

VivoPower continues to work closely with CCTSF (“Cactus Acquisition Corp. 1 Limited”), a Cayman Islands-exempted special purpose acquisition company (SPAC), to progress towards a closing of the previously announced business combination with Tembo by Q2, calendar 2025.

Caret Digital IPO

VivoPower plans to spin out Caret Digital through a direct listing IPO on either the Nasdaq or NYSE American market. It is proposed that VivoPower shareholders at a record date to be advised will be entitled to receive five (5) shares of Caret Digital for each VivoPower share held. The implied market capitalisation for Caret Digital is $250 million (subject to change based on market conditions and other factors). Caret Digital’s strategy will initially focus on cryptocurrency mining, with an emphasis on mining Dogecoin (DOGE). Leveraging DOGE mining economics, the company will convert mined DOGE into Bitcoin (BTC), securing BTC at an effective discount to its current market price.

About VivoPower 

Established 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.

Contact 
Shareholder Enquiries 
shareholders@vivopower.com 

Tembo operates across international markets, including Asia, the Middle East, Africa, Oceania, Europe and North America 

Increasing adoption of digital assets and currencies across these markets enables Tembo to provide these payment options, with potential benefits to its working capital cycle

LONDON, Jan. 31, 2025 (GLOBE NEWSWIRE) -- VivoPower International PLC (Nasdaq: VVPR) ("VivoPower" or the "Company") announced today that its subsidiary, Tembo e-LV will commence accepting payments for deposits and orders in Bitcoin (BTC), Ripple (XRP), and Dogecoin (DOGE).

The primary rationale is to provide customers and partners with added flexibility as to how to pay Tembo for goods and services provided. With instantaneous settlement, it has the potential to shorten the working capital cycle for the Company.

VivoPower will incorporate these selected digital assets into its corporate treasury management strategy. The Company’s treasury may elect hold a portion of its reserves in Bitcoin, XRP, and/or Dogecoin, subject to ongoing market assessments and risk management considerations.

VivoPower remains committed to ensuring secure and compliant digital currency transactions and has established a payment architecture that enables this.

About VivoPower 

Established 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.

Contact 
Shareholder Enquiries 
shareholders@vivopower.com 

Tembo Tusker is only the 2^nd full electric utility vehicle pick up truck to receive full on road homologation VTA regulatory approval in Australia

Tuskers can now be driven on road and off road in all states and territories across Australia

VTA regulatory approval provides platform for Tembo to accelerate sales and deliveries of Tuskers to customers across all of Australia

LONDON, Nov. 18, 2024 (GLOBE NEWSWIRE) -- Tembo E-LV B.V. (“Tembo”), a subsidiary of Nasdaq-listed B Corporation, VivoPower International PLC (Nasdaq: VVPR) (“VivoPower”), is pleased to announce that it has secured full on road homologation vehicle type approval (VTA) for Tembo Tusker 100% electric utility vehicles across the Australia market.

The approval secured by Tembo makes the Tusker only the second full electric ute to receive full on-road homologation in Australia.

VTAs are a critically important regulatory milestone in the Australasian pick-up truck market, which we estimate to be approximately US$10 billion. Without VTAs, vehicles are not considered homologated and cannot be legally driven on public roads across Australia and New Zealand. They are crucial for ensuring that vehicles, including EVs, meet essential safety, environmental, and anti-theft standards before hitting the road. Under the Road Vehicle Standards (RVS) legislation, these approvals – managed by the Department of Infrastructure, Transport, Regional Development, and Communications – verify that EVs comply with stringent national regulations covering design, construction, and performance. As EV adoption accelerates, VTAs become vital in regulating new fully electric vehicle models in the market. They address unique EV-specific standards, such as battery safety and charging capabilities, helping manufacturers demonstrate compliance with local regulations. This not only enhances road safety but also builds consumer confidence in innovative EV technologies.

Tembo is currently in the process of securing similar clearance for Tuskers in New Zealand.

Chris Mallios, Chief Commercial Officer, VivoPower, said: “The Tembo Tusker range will augment our conversion programmes, increasing choices for Tembo’s B2B customer base and target market. Depending on where a fleet customer is in their fleet replacement cycle and/or depending on their strategic requirements and total cost of ownership considerations, we will now be able to offer a choice of a full electric utility vehicle or a conversion of an existing utility vehicle. This expanded offering underscores Tembo’s commitment to providing tailored sustainable energy solutions to meet the diverse requirements of our global customer base.”

 The Tembo Tusker range is available in single (Tusker-S) and dual-cab (Tusker-D) body configurations, with both 65Kwh and 77Kwh variants providing ranges of 330 km to 400 km, on a single charge, respectively. The vehicles will have a payload capacity of 1000 kg and an unbraked towing capacity of 750 kg.

Tembo will now seek to fast-track its strategy of bringing the Tuskers to other markets where it has customers and partners, including the United Arab Emirates, Africa, Europe, Asia, and Canada, amongst others.

About VivoPower 

Established in 2014 and listed on Nasdaq since 2016, VivoPower is an award-winning global sustainable energy solutions B Corporation company focused 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.

About Tembo

Tembo electric utility vehicles (EUVs) are a 100% electric solution for ruggedised and/or customised applications for fleet owners in the mining, agriculture, energy utilities, defence, police, construction, infrastructure, government, humanitarian, and game safari industries. Tembo provides safe, high-performance off-road and on-road electric utility vehicles. Its core purpose is to provide safe and reliable electrification solutions for utility vehicle fleet owners, helping to perpetuate useful life, reduce costs, maximise return on assets, meet ESG goals and seeks to further the circular economy. Tembo is a subsidiary of VivoPower, a Nasdaq-listed B Corporation.

Contact 

Shareholder Enquiries 

shareholders@vivopower.com

LONDON, May 15, 2023 (GLOBE NEWSWIRE) -- VivoPower International PLC (NASDAQ: VVPR, the “Company”) is pleased to announce that it has signed a definitive partnership agreement (“Agreement”) for VivoPower to market and distribute Vital EV Solutions (“Vital EV”) fleet charging solutions globally.

Part of the Vital Group of companies, Vital EV is a specialist UK-headquartered company, offering a comprehensive range of electric vehicle charging solutions for fleet owners and is the official re-seller of Kempower charging stations and service solutions in the UK and across Africa. Kempower, headquartered in Finland, has the fastest EV fleet charging solutions on the market including for off-highway working environment applications.

Under the Agreement, VivoPower will be able to offer to its customers and partners a wide range of EV fleet charging products and services from Vital EV and Kempower for an initial term of 3 years. These products include multi-voltage lightweight movable rapid chargers, hub-and-spoke rapid and ultra-rapid charging systems, satellite dispensers as well as conventional station chargers.

The EV fleet charging solutions will be offered by VivoPower to complement Tembo’s EV conversion kits, which transform new and second-hand diesel-powered 4x4 Land Cruiser and Hilux vehicles into ruggedised EUVs for use in many sectors, including mining, infrastructure, government agencies, humanitarian, tourism, and agriculture. Tembo EV conversion kits are a key component of VivoPower’s turnkey sustainable energy solutions, designed to help corporate customers accelerate towards their net-zero carbon goals and to achieve cost savings.

Kevin Chin, VivoPower’s Executive Chairman and Chief Executive Officer, said:

“VivoPower’s purpose is to generate sustainable energy solutions to help our customers and our planet. This partnership will allow VivoPower to bundle ancillary charging solutions for our fleet owning customers and partners who are seeking to electrify their fleets with the Tembo EV conversion kits. Vital EV’s solutions are differentiated from others in the market in that they offer satellite remote charging, off-road and ruggedised charging, as well as both DC and AC charging. This is highly relevant for some of the use cases of our customers, including for off-road and remote conditions.”

Alex Rae, Vital EV’s Director and General Manager, said:

“Vital EV are delighted to announce that VivoPower is set to become our partner as we extend the geographical reach of our highly reliable and future-proofed EV rapid charging solutions. VivoPower’s integrated focus on turnkey solutions complements our own objectives, which are to ensure all customers are supported with full product life-cycle services to ensure uptime and availability of critical charging infrastructure.”

About VivoPower

VivoPower is an award-winning global sustainable energy solutions B Corporation company focused on electric solutions for customised and ruggedised fleet applications, battery and microgrids, 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 has operations and personnel in Australia, Canada, the Netherlands, the United Kingdom, the United States, the Philippines, and the United Arab Emirates.

About Vital EV

Vital EV is the UK market leader in the sales, service, and rental of Kempower (DC) rapid charging solutions. Its vision is to be the most trusted service provider within the EV charging sector by setting world-class customer service benchmarks and transforming customer expectations with honesty, integrity, and passion. Part of the Vital Group of companies, the business is led by a dynamic, innovative, and experienced management team. With a specialist understanding of power engineering and the automotive sector, it enjoys a successful track-record in delivering large-scale and technically complex project installations to an ever-growing customer base of EV users.

All trademarks referenced herein are the property of their respective owners.

Energi to acquire 51% of Tembo with VivoPower continuing to hold a significant shareholding in Tembo post-SPAC merger

Energi is supportive of Tembo’s business combination with Cactus Acquisition Corp 1 Limited (“SPAC”) at an equity valuation of $838 million

Tembo can now resume finalizing and filing the F-4 SPAC Registration Statement

LONDON, Aug. 18, 2025 (GLOBE NEWSWIRE) -- VivoPower International PLC (NASDAQ: VVPR) (“VivoPower” or the “Company”) today announced it has reached agreement with Energi Holdings Limited (“Energi”) whereby Energi will proceed to secure a 51% shareholding in Tembo e-LV B.V. (“Tembo”) via a strategic PIPE investment at the previously advised total enterprise valuation of $200 million. This confirmation will now enable the resumption of Tembo’s proposed business combination with the special purpose acquisition company (“SPAC”) namely Cactus Acquisition Corp 1 Limited (“CCTSF”). The immediate priority will be the filing of a registration statement on Form F-4, which will subsequently reviewed by the Securities and Exchange Commission.

The proposed investment by Energi is based on a total enterprise valuation for 100% of Tembo of $200 million, with the equity purchase price for the 51% stake to be derived from this enterprise valuation, adjusted for Tembo’s net debt and other customary adjustments at the time of closing. The investment is subject to completion of Tembo’s previously announced business combination agreement with Cactus Acquisition Corp. 1 Limited (“CCTSF”) and customary closing conditions. VivoPower would continue to retain a significant shareholding in Tembo should the business combination be successfully consummated.

The Board of VivoPower, the parent company of Tembo, has also commenced recruitment of a dedicated board of directors for Tembo, in preparation for its listing as a public company.

About VivoPower International PLC

VivoPower International PLC (NASDAQ: VVPR) is undergoing a strategic transformation into the world’s first XRP-focused digital asset enterprise. The Company’s new direction centers on the acquisition, management, and long-term holding of Ripple Lab shares and XRP digital assets as part of a diversified digital treasury strategy. Through this shift, VivoPower aims to contribute to the growth and utility of the XRP Ledger (XRPL) by supporting decentralized finance (DeFi) infrastructure and real-world blockchain applications.

Originally founded in 2014 and listed on Nasdaq since 2016, VivoPower operates with a global footprint spanning the United Kingdom, Australia, North America, Europe, the Middle East, and Southeast Asia. An award-winning global sustainable energy solutions B Corporation, VivoPower has two business units, Tembo and Caret Digital. Tembo is focused on electric solutions for off-road and on-road customized and ruggedized fleet applications as well as ancillary financing, charging, battery and microgrids solutions. Caret Digital is a power-to-x business focused on the highest and best use cases for renewable power, including digital asset mining.

About Tembo e-LV B.V.

Tembo e-LV B.V. ("Tembo") is a subsidiary of VivoPower. Tembo is a specialist battery-electric and off-road vehicle company that designs and delivers ruggedized light electric vehicle solutions for fleet owners across various industrial sectors, including mining, agriculture, energy utilities, defense, police, government, and humanitarian aid. Tembo’s core purpose is to provide safe and reliable electrification solutions for utility vehicle fleet owners globally.

Contact
Shareholder Enquiries
shareholders@vivopower.com

Exclusivity period for Heads of Agreement extended to 31 August 2024

Extension to enable Tembo to consummate material transaction and update disclosure

LONDON, July 29, 2024 (GLOBE NEWSWIRE) -- The Nasdaq-listed B Corp, VivoPower International PLC (Nasdaq: VVPR, “VivoPower”), announced today that its electric vehicle subsidiary, Tembo e-LV B.V. (“Tembo”), has agreed to a further one month extension of its exclusive heads of agreement with Nasdaq-listed Cactus Acquisition Corporation I (Nasdaq: CCTS, CCTSW, CCTSU, “CCTS”) to 31 August 2024.

The extension is intended to provide additional time for Tembo to consummate a material transaction and update disclosures before finalising a definitive business combination agreement relating to the proposed transaction as well as the independent fairness opinion.

About VivoPower

VivoPower is an award-winning global sustainable energy solutions B Corporation company focused on electric solutions for off-road and on-road customised and ruggedised fleet applications as well as ancillary financing, charging, battery and microgrids solutions. 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 has operations and personnel covering Australia, Canada, the Netherlands, the United Kingdom, the United States, the Philippines, and the United Arab Emirates.

About Tembo

Tembo electric utility vehicles (EUVs) are the premier 100% electric solution for ruggedised and/or customised applications for fleet owners in the mining, agriculture, energy utilities, defence, police, construction, infrastructure, government, humanitarian, and game safari industries. Tembo provides safe, high-performance off-road and on-road electric utility vehicles that meet exacting standards of safety, reliability, and quality. Its core purpose is to provide safe and reliable electrification solutions for utility vehicle fleet owners globally, helping perpetuate useful life, reduce costs, maximise return on assets, meet ESG goals and activate the circular economy. Tembo is a subsidiary of the Nasdaq listed B Corporation, VivoPower International PLC

Exclusivity period for Heads of Agreement extended to 31 July 2024

LONDON, July 03, 2024 (GLOBE NEWSWIRE) -- the Nasdaq listed B Corp, VivoPower International PLC (Nasdaq: VVPR, “VivoPower”), announced today that its electric vehicle subsidiary, Tembo e-LV B.V. (“Tembo”), has agreed to a one month extension of its exclusive heads of agreement with Nasdaq listed Cactus Acquisition Corporation I (Nasdaq: CCTS, CCTSW, CCTSU, “CCTS”) to 31 July, 2024.

The extension is intended to provide additional time to finalise the definitive business combination agreement relating to the proposed transaction as well as the independent fairness opinion.

Tembo continues to negotiate with Cactus to conclude the definitive business combination agreement.

About VivoPower

VivoPower is an award-winning global sustainable energy solutions B Corporation company focused on electric solutions for off-road and on-road customised and ruggedised fleet applications as well as ancillary financing, charging, battery and microgrids solutions. 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 has operations and personnel covering Australia, Canada, the Netherlands, the United Kingdom, the United States, the Philippines, and the United Arab Emirates.

About Tembo

Tembo electric utility vehicles (EUVs) are the premier 100% electric solution for ruggedised and/or customised applications for fleet owners in the mining, agriculture, energy utilities, defence, police, construction, infrastructure, government, humanitarian, and game safari industries. Tembo provides safe, high-performance off-road and on-road electric utility vehicles that meet exacting standards of safety, reliability, and quality. Its core purpose is to provide safe and reliable electrification solutions for utility vehicle fleet owners globally, helping perpetuate useful life, reduce costs, maximise return on assets, meet ESG goals and activate the circular economy. Tembo is a subsidiary of the Nasdaq listed B Corporation, VivoPower International PLC

Contact
Shareholder Enquiries
shareholders@vivopower.com

Exclusivity period for Heads of Agreement extended to 31 July 2024

LONDON, July 02, 2024 (GLOBE NEWSWIRE) -- the Nasdaq listed B Corp, VivoPower International PLC (Nasdaq: VVPR, “VivoPower”), announced today that its electric vehicle subsidiary, Tembo e-LV B.V. (“Tembo”), has agreed to a one month extension of its exclusive heads of agreement with Nasdaq listed Cactus Acquisition Corporation I (Nasdaq: CCTS, CCTSW, CCTSU, “CCTS”) to 31 July, 2024.

The extension is intended to provide additional time to finalise the definitive business combination agreement relating to the proposed transaction as well as the independent fairness opinion.

About VivoPower

VivoPower is an award-winning global sustainable energy solutions B Corporation company focused on electric solutions for off-road and on-road customised and ruggedised fleet applications as well as ancillary financing, charging, battery and microgrids solutions. 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 has operations and personnel covering Australia, Canada, the Netherlands, the United Kingdom, the United States, the Philippines, and the United Arab Emirates.

About Tembo

Tembo electric utility vehicles (EUVs) are the premier 100% electric solution for ruggedised and/or customised applications for fleet owners in the mining, agriculture, energy utilities, defence, police, construction, infrastructure, government, humanitarian, and game safari industries. Tembo provides safe, high-performance off-road and on-road electric utility vehicles that meet exacting standards of safety, reliability, and quality. Its core purpose is to provide safe and reliable electrification solutions for utility vehicle fleet owners globally, helping perpetuate useful life, reduce costs, maximise return on assets, meet ESG goals and activate the circular economy. Tembo is a subsidiary of the Nasdaq listed B Corporation, VivoPower International PLC