VivoPower’s Tembo to Accept Ripple USD (RLUSD) StableCoin for Payments

Tembo operates globally across markets, including Southeast Asia, Africa and the Middle East

RLUSD is the fast-growing stablecoin established by Ripple Labs

RLUSD stablecoin enables near-instant low-cost international funds transfers

VivoPower announced today that its electric vehicle subsidiary, Tembo e-LV is accepting payments from customers and partners in RLUSD, the stablecoin established by Ripple Labs.  

As a business that operates globally across developed as well as developing nations, Tembo has been seeking solutions to real-life practical challenges that affect conventional international wire transfers, including lead time and high transaction costs.  This is particularly pronounced for partners and customers in developing markets.

With RLUSD, it is possible for international wire transfers to be effectuated almost instantaneously and at a fraction of the cost of conventional wire transfers.  Furthermore, given RLUSD is pegged 1:1 against the U.S. dollar and is fully backed by USD deposits, short-term U.S. treasuries, and other cash equivalents, it provides the capital stability that non-stablecoin digital assets cannot offer.

What is RLUSD?

RLUSD is a stablecoin issued by Ripple Labs, designed for real-world payments. It is pegged 1:1 to the U.S. dollar and is fully backed by USD deposits, short-term U.S. Treasuries, and other cash equivalents. It is built to meet institutional standards for compliance, transparency, and security. RLUSD is issued natively on both the XRP Ledger and Ethereum. This allows for near-instant, low-cost settlements, supporting Ripple’s mission to enable seamless cross-border value transfer.

RLUSD’s coin market capitalization has increased 10-fold since the start of the calendar year 2025, with increasing adoption around the world.

Strategic Rationale

Accepting RLUSD will help VivoPower:

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

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media@vivopower.com

Unlocking the Power: What is Vehicle-to-Load (V2L) Technology?

Vehicle-to-Load (V2L) technology is an innovative feature found in some battery-electric vehicles (BEVs) that enables these vehicles to supply electrical power to external devices. This capability transforms electric vehicles into mobile power sources, allowing them to power a variety of appliances such as camping equipment, power tools, and even household devices.

In this edition of Tembo Insight, let us discuss V2L to understand how vehicle fleet users stand to benefit from this revolutionary piece of technology.

How V2L Works

V2L operates by utilising an internal inverter that converts the high-voltage direct current (DC) stored in the vehicle's battery into alternating current (AC), which is suitable for powering standard household appliances. The vehicle typically has one or more AC outlets where devices can be connected directly.

V2L technology is particularly beneficial for emergency situations or off-grid scenarios, providing backup power when traditional electricity sources are unavailable.

Key Features

User Control

Vehicle owners can set limits on how much battery power is used for V2L applications. For instance, a user might configure the system to stop supplying power once the battery reaches a certain charge level, ensuring enough energy remains for driving.

Versatility

V2L can be used to power a wide range of devices, from lights and laptops to larger appliances like refrigerators. This flexibility enhances the utility of electric vehicles beyond transportation.

Emergency Backup

In emergencies, V2L can serve as a backup power source, functioning similarly to a generator. This is especially useful in situations where access to the grid is limited.

Comparison with Other Technologies

V2L is often confused with Vehicle-to-Grid (V2G) technology. While both involve bidirectional energy flow, V2G allows vehicles to send power back to the electrical grid, which requires more complex infrastructure and dedicated bidirectional chargers. In contrast, V2L focuses solely on supplying power to external devices and does not involve grid interaction.

Future Prospects

As electric vehicle technology evolves, V2L is expected to play a significant role in energy management systems, potentially integrating with home solar systems and smart grids. This integration could enhance energy efficiency and provide new opportunities for energy storage and distribution.

V2L technology not only maximises the utility of electric vehicles but also contributes to energy resilience in various applications, making it a valuable feature for modern electric vehicle owners.

Tembo Tusker-S with V2L Technology

The Tembo Tusker-S with Vehicle-to-Load (V2L) technology offers significant benefits to vehicle fleet users, particularly in the construction industry.

V2L technology allows the Tusker-S to function as a mobile power station, providing electricity directly from the vehicle to power tools, equipment, and even temporary lighting on-site. This capability reduces the need for separate generators, streamlining operations and lowering the logistical challenges associated with transporting and setting up additional power sources. As a result, construction teams can work more efficiently, with reliable power always on hand, even in remote locations. For fleet managers, the V2L-equipped Tusker-S translates to substantial cost savings and increased operational flexibility. With fewer dependencies on external power solutions, the fleet’s overall maintenance and fuel costs are significantly reduced.

Additionally, the Tusker-S’s zero-emissions electric powertrain supports companies' sustainability goals, aligning with growing environmental regulations and customer expectations for greener practices. This combination of versatility, cost efficiency, and environmental responsibility makes the Tembo Tusker-S an invaluable asset for construction fleets, enhancing both productivity and sustainability on the job.

For more news & insights, stay tuned to the Tembo website.

Tembo E-LV Progresses Business Combination Agreement with CCTS at a Combined Enterprise Value Of US$904m

Business Combination Agreement with CCTS originally announced in August 2024

Combined pro forma enterprise value of US$904m assumes no public trust redemptions for CCTS

Parties working to close the transaction by Q2, calendar 2025

Tembo E-LV, a subsidiary of Nasdaq-listed B Corporation, VivoPower, today announced that it is working closely with CCTS (Cactus Acquisition Corp. 1 Limited), a Cayman Islands exempted special purpose acquisition company to progress towards a closing of the Business Combination by Q2, calendar 2025.

The parties originally announced a Business Combination Agreement (BCA) in August 2024 with an original target of closing the Business Combination by the end of calendar 2024.  However, as a consequence of new rules relating to special purpose acquisition company transactions, the parties took the opportunity to work with respective counsel to review the transaction structure.  This has now been completed, and work has resumed in relation to finalization of the registration statement on Form F-4, to be filed with the U.S. Securities and Exchange Commission (SEC). 

The parties expect a registration statement on Form F-4 to be filed shortly with the SEC in connection with the proposed transaction (the Business Combination), which they are working to close, subject to satisfaction (or waiver, as applicable) of closing conditions, including, without limitation, the completion of the SEC review process and approval of the transaction by CCTS shareholders, prior to the end of Q2, 2025.

The BCA was entered into by the parties following due diligence and receipt by the CCTS board of directors of a fairness opinion from an independent third party.

In connection with the Business Combination, the parties will submit to Nasdaq an application to list the securities of a newly formed company (Tembo Group) established in connection with the transaction on Nasdaq.

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 Signs Heads of Agreement with East Africa’s Leading Vehicle Assembler, Associated Vehicle Assemblers Ltd (AVA)

5-year agreement targeting 200 vehicle conversions in first year and 1,600 over five years

Provides local sales, service, and maintenance, further boosting Tembo’s position in the East African market, a population exceeding 500 million people

AVA’s vehicle assembly facilities have the capacity to assemble 30,000 vehicles per annum

AVA currently assembles vehicles for leading OEMs including Toyota, Fuso, Proto, Hino, Mahindra, Scania, Tata, Volvo, and Daewoo

Established in 1975, AVA is the only assembler in the region to have achieved IATF16949 Certification

VivoPower announced today that its subsidiary, Tembo e-LV, has signed a Heads of Agreement with Associated Vehicle Assemblers (AVA), East Africa’s market-leading vehicle assembler.  

The Agreement covers Kenya, Tanzania, and other East African nations.  With a population exceeding 500 million people, East Africa is the largest sub-region in Africa and home to the United Nations headquarters for Africa.

Under the terms of the Agreement, AVA is empowered to both distribute and locally assemble Tembo’s 100% electric utility vehicle (EUV) solutions across East Africa for customers in the mining, agriculture, energy, safari, non-government organisation (NGO), defence, and government sectors. Crucially, it provides customers and partners in the East African region with local maintenance and support capabilities. This Agreement augments a previous partnership agreement that Tembo signed with ETC Group in relation to Kenya specifically.

The Agreement reflects both companies’ commitment to supporting Kenya’s transition to sustainable transportation and creating value and jobs in local economies across East Africa.

“We are seeing an acceleration in demand for electric vehicles across East Africa, from both government and private sector companies,” stated Matt Lloyd, CEO of AVA. “Having conducted an expansive review of electric conversion companies, we selected Tembo based on their experience, their cultural adaptability as well as the fact they have the most competitively priced products and solutions which also meet our quality and safety standards.   Our team is excited to welcome Tembo’s engineers to Kenya in April 2025 as we kickstart the first assemblies for the Kenya market.”

 “With the new and reduced pricing for our next-generation EUV25 electric conversion kits, we have seen a surge in interest from new and existing customers and partners.  This is a direct consequence of Tembo’s strategy to diversify and strengthen its supply chain which has translated into a significant reduction in costs, without sacrificing quality and safety,” commented Matthew Nestor, Tembo’s Head of Partnerships and Sales.  We are delighted to have been selected to partner with AVA, who are the pre-eminent vehicle assembler in East Africa.”

Kevin Chin, Executive Chairman and Chief Executive Officer of VivoPower, stated, "We are honoured to be partnering with AVA. This is part of a considered and patient strategy we have been executing upon globally to identify and build partnerships with long-established and credible leaders in their respective markets who are genuinely aligned in terms of values and like us, have a long-term commitment to deliver electrification solutions and transformation to entire nations."

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

About AVA

Associated Vehicle Assemblers Ltd. (AVA) is East Africa’s leading vehicle assembler, with decades of experience in producing high-quality vehicles tailored to meet the unique needs of the region. Based in Mombasa, AVA has established itself as a trusted partner for global automotive brands, providing state-of-the-art assembly services and technical expertise. AVA’s commitment to quality, innovation, and sustainability has made it a key player in Kenya’s automotive industry, driving economic growth and supporting the transition to more sustainable transport solutions. As a pioneer in the region, AVA continues to lead the way in assembling vehicles that meet the highest global standards while catering to local market demands.

Contact

Shareholder Enquiries 

shareholders@vivopower.com 

Tembo signs Definitive Supply Agreement with pre-eminent African safari operator Asilia Africa

First phase of Definitive Supply Agreement will see Tembo deliver its EUV25 EPower conversion kits for Asilia’s fleet of Landcruisers, commencing from February 2025

Partnership will establish Asilia Africa and Tembo e-LV as key enablers of sustainable tourism in Africa, with a goal to scale across Asilia’s 16 camps and broader industry networks

Tembo’s 4x4 electric utility vehicles, renowned for durability in extreme conditions, will transport guests, staff, and supplies while operating entirely on renewable energy

Initiative is expected to reduce Asilia’s annual diesel consumption and carbon emissions, advancing both companies’ net-zero goals

Partnership reinforces Asilia Africa and VivoPower’s commitment to ESG leadership as fellow Certified B Corporations

VivoPower announced today that its wholly-owned subsidiary, Tembo e-LV, has entered into a definitive supply agreement with the pre-eminent safari operator and fellow Certified B Corporation, Asilia Africa, to deploy Tembo’s ruggedized electric utility vehicles across Asilia’s safari operations in East Africa, marking a transformative step toward decarbonizing the tourism sector in Africa.

Under the first phase of the agreement, Tembo will supply its next-generation EUV25 EPower conversion kits, with the first delivery scheduled for the end of February 2025. Assembly will be completed locally in Kenya.

Established in 2004, Asilia Africa has become a renowned leader in immersive safari experiences across East Africa. It is committed to delivering exceptional safaris while safeguarding the region’s ecosystems and wildlife. Asilia owns 16 bespoke camps and lodges across Kenya and Tanzania, employing nearly 1,000 people. It operates 165 Landcruisers as part of its vehicle fleet. Asilia is a member of the Nawiri Group, a B Corp Certified organization dedicated to sustainable, community-driven impact in East Africa.

The definitive supply agreement between VivoPower and Asilia underscores a shared commitment to environmental stewardship, social responsibility, and innovation—core tenets of the B Corporation certification held by both companies.

The partnership aligns with VivoPower’s mission to deliver sustainable energy and transportation solutions that enhance operational resilience and cost savings while reducing carbon footprints. It also builds upon Asilia’s goal of achieving carbon neutrality by 2025 while preserving the pristine ecosystems central to its business. Tembo’s purpose-built electric utility vehicles (EUVs) will replace diesel-powered fleets in Asilia’s remote safari camps, eliminating emissions, noise pollution, and operational reliance on fossil fuels in ecologically sensitive regions.

Matthew Nestor, VivoPower’s Global Head of Partnerships and Sales, said: “We are delighted to have been selected by Asilia as their fleet electrification partner. This partnership exemplifies how aligned values drive meaningful progress in sustainability. Asilia’s leadership in eco-conscious tourism and Tembo’s ruggedized EV technology combined, can prove that electrification will be effective even in the most challenging environments—protecting wildlife, supporting local communities, and offering guests a cleaner, quieter safari experience.”

Gerard Beaton, Head of Operations, Asilia Africa, said: “Asilia Africa is committed to pioneering sustainable tourism solutions that protect and preserve the incredible ecosystems we call home. We are very pleased to be partnering with a fellow B Corporation in VivoPower and Tembo as we accelerate our plans of reducing our environmental footprint while enhancing the safari experience for our guests. By integrating Tembo’s electric utility vehicles into our fleet, we can not only lower our carbon emissions but also contribute to the long-term sustainability of Africa’s wilderness. This collaboration reflects our dedication to responsible tourism, innovation, and community-driven impact, ensuring that future generations can continue to experience the magic of East Africa’s landscapes and wildlife.”

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

About EUV25 EPower conversion kit

The EUV25 EPower kit is the latest electric conversion kit for Landcruisers, specifically designed to accommodate rugged off-road terrain and conditions, as well as heavy payload. Tembo’s EUV25 builds on the legendary design of the Land Cruiser LC70, which has been an iconic and ubiquitous mode of transportation throughout Africa. Because of its rugged reliability and adaptability to challenging terrains, the LC70 has secured its place as the vehicle of choice traversing vast deserts, remote areas, and mountainous landscapes. Its durable design and ability to withstand extreme temperatures has made it indispensable for industries such as remote ecotourism, resources exploration, agriculture, and logistics.

About Asilia Africa

Founded in 2004 on a deep-rooted passion for conservation and community empowerment, Asilia Africa has been a leader in immersive safari experiences across East Africa for decades. True to its Swahili name—meaning “authentic” and “genuine”—Asilia is committed to delivering exceptional safaris while safeguarding the region’s ecosystems and wildlife.

Since its origins with Rekero Camp in 1986 and Oliver’s Camp in 1992, Asilia has grown into a premier safari operator with 16 bespoke camps and lodges across Kenya and Tanzania, employing nearly 1,000 people. The company harnesses the power of tourism to create lasting positive change, from responsibly sourcing energy and materials to supporting local communities and conservation initiatives.

Asilia is a proud member of the Nawiri Group, a B Corp Certified organization dedicated to sustainable, community-driven impact in East Africa. Through meaningful partnerships and a steadfast commitment to responsible travel, Asilia continues to inspire the next generation of adventurers and conservationists alike.

Contact

Shareholder Enquiries 

shareholders@vivopower.com 

Tembo Tuskers order and deliveries on schedule for February 2025, from Sydney, Australia

Delivery of 25 Tusker vehicles includes next gen model with upgraded cruise control, safety and multimedia features from February 2025

All 25 vehicles have been allocated due to strong demand from customers and partners

Tembo is working with fleet owners to assist them in securing the NSW government fleet incentive of up to A$15,000 per vehicle

Tembo Tuskers offer the best value for money homologated 100% electric utility pick-up truck in AustraliaTuskers come with a 3-year warranty, 8 year battery warranty from CATL, the world's largest battery company

VivoPower announced today that its subsidiary, Tembo e-LV, has been advised that it will receive shipment of 25 Tusker full electric utility vehicles into Sydney, Australia before the end of February 2025. Tembo will subsequently be able to deliver Tuskers to customers and partners.

The Tusker batch includes the next generation model which has upgraded features, including EPB (electronic park braking), Uphill Drive assistance, Fixed Speed Cruise Control, Bluetooth Car Phone, 12.3-inch Centre Console screen interface as well as AEBS and the popular V2L (vehicle 2 load feature).

The Tembo Tuskers offer the best value for money 100% electric utility pick-up trucks in Australia and comes with a 3 year OEM warranty and 8 year battery warranty from CATL, the world's largest battery company. The Tusker received full Australian Federal Government on road homologation vehicle type approval (VTA) approval in November 2024, following a rigorous testing and evaluation program by independent Australian Federal Government approved inspectors. VTAs are a critically important regulatory milestone in the Australasian pick-up truck market, which is estimated to be approximately US$10 billion. Without VTAs, vehicles are not considered homologated and cannot be legally driven on public roads across. 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.

For the full version of the article, visit the VivoPower Press Releases page.

Contact 

Shareholder Enquiries 

shareholders@vivopower.com 

Tembo to launch EUV25 EPower kits for Landcruisers at Automechanika Dubai 2024, with an estimated 60,000 attendees from 160 countries

EUV25 EPower kit is the next-generation electric conversion kit for Landcruisers

Automechanika Dubai to be held from 10-12 December 2024

Estimated 60,000 attendees from over 160 countries registered to attend

Automechanika Dubai is the largest automotive aftermarket solutions show in the region

Tembo to follow up by hosting regional off-road drive days in the first quarter of calendar 2025

Tembo e-LV, a subsidiary of Nasdaq-listed B Corporation, VivoPower, is pleased to announce that it will be launching its next-generation EUV25 EPower conversion kit for Landcruisers at Automechanika Dubai 2024. 

The EUV25 EPower kit is the latest electric conversion kit for Landcruisers, specifically designed to accommodate rugged off-road terrain and conditions, as well as heavy payload.

Tembo will be joining forces with the market-leading UAE-based sustainable transport solutions company, ONE MOTO, at Automechanika Dubai from 10 to 12 December 2024, which will be held at the Dubai World Trade Centre.

Tembo’s EUV25 builds on the legendary design of the Land Cruiser LC70, which has been an iconic and ubiquitous mode of transportation in the UAE and the broader Gulf Cooperation Council (GCC) region. Because of its rugged reliability and adaptability to challenging terrains, the LC70 has secured its place as the vehicle of choice traversing vast deserts, remote areas, and mountainous landscapes. Its durable design and ability to withstand extreme temperatures has made it indispensable for industries such as oil exploration, agriculture, and logistics.

Automechanika Dubai 2024 is the largest international trade show for the automotive aftermarket industry in the Middle East, Africa, and South Asia region. It provides a platform for industry professionals, manufacturers, and suppliers to network, showcase innovations, and explore opportunities in the rapidly evolving automotive sector.

This year’s event will feature over 2,200 exhibitors from 161 countries, spanning 17 halls. Key highlights include specialised sections for tyres, batteries, telematics, diagnostics, and EV-related technologies, reflecting the industry's shift toward sustainability.

Chris Mallios, Chief Commercial Officer of VivoPower said: “We are delighted to be launching the EUV25 EPower conversion kit in one of the fastest growing regions in the world. We are grateful to be showcasing the kit in collaboration with the ONE MOTO team at Automechanika Dubai 2024. This collaboration reflects our shared commitment to driving innovation and adoption of electric vehicle technologies. By combining our expertise, we aim to showcase cutting-edge yet cost effective solutions that address the growing demand for sustainable mobility in the region”. 

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

About ONE MOTO

ONE MOTO is a pioneering electric vehicle company specialising in sustainable transport solutions for urban mobility and last-mile delivery. With a strong presence across the globe, ONE MOTO’s mission is to transform cities by providing zero-emission, cost-effective electric motorcycles for businesses and consumers alike. By leveraging advanced data technology and a passion for sustainability, ONE MOTO is paving the way for a cleaner, smarter future in urban transport.

Contact 

Shareholder Enquiries 

shareholders@vivopower.com 

Battery Safety Series: How to Keep EV Batteries Safe at the Pack Level

A battery pack, comprised of a collection of modules enclosed together, forms a crucial component within electric vehicles (EVs). It is often a large assembly integrated into the vehicle's structure.

In this edition of our Battery Safety series, we will focus on the safety considerations concerning a single battery pack assembly.

Maintaining Structural Integrity

The first safety consideration is structural integrity, as the whole pack constitutes a significant mass. The strength and stiffness are unquestionably important as the mass influences the way the battery pack structurally behaves, both separate from the vehicle and when installed in the vehicle. The pack and its structure must be capable of withstanding many static and dynamic loadings.

Statically, there are bending and torsional loadings that must not overstress the materials. Dynamically, there are forces and accelerations in all directions that need to be considered, and optimising the structure and mounting regime requires the use of conventional analysis techniques for stiffness, strength, and fatigue.

Assembling the Battery Pack

Assembling the battery pack brings together high voltage (HV) harnesses to electrically connect each module, and the high voltage safety is now a consideration as connecting modules brings the hazard of dangerously high voltage.

To mitigate these risks, careful thought as to the connection methodology for the high-voltage harness is a must. The low voltage system includes the Battery Management System (BMS) connections from the modules to the master, and any other connections including sensors, communications etc.

The BMS is now a full system with the master able to communicate with the ‘slave boards’ inside the modules and to report back to the Vehicle Controller.

Depending on the system specification, the BMS may include drivers for switching coolant circulation pumps, fans, and other components, otherwise, these will be controlled by the Vehicle Controller to maintain the cell temperatures in their comfort and safety zones.

Using Coolant Systems

The coolant system connections are typically within the battery pack assembly, and these can be proprietary quick-release connections or others, however, there may be design rules that prohibit this.

A large European OEM has corporate design rules that do not allow any liquid coolant connections within the battery pack enclosure. This is to mitigate any potential short circuits due to coolant leaks within the pack itself.

Overall, short-circuit protective devices would ultimately prevent this, however, this corporate rule adds an additional level of safety protection.

Using Alternative Cooling Methods

In our previous articles, we discussed the importance of maintaining the temperature of the cells for the whole battery system. Another key element that EV battery manufacturers need to consider is the pack’s mechanical integrity.

The typical thermal management of an HV battery system is based on a ‘conventional’ automotive 50/50 water/glycol solution to absorb excess heat and transport it from the battery pack. It may or may not be force-cooled using the onboard air conditioning or refrigeration system.

While the process is a very cost-effective way of maintaining the cell temperature, there are alternatives that manufacturers can use. A sophisticated thermal management system may be heat-pump based which, albeit more effective, adds a level of complexity.

The simplest form of thermal management is to rely on the thermal mass of the pack itself. This is passive cooling - there is no active warming or cooling at all. When the cells start to work, they will take some time to start warming up. This is particularly the case for large format cells.

Some electric buses and trains utilise this method, as it is suited to large-capacity, low-performance packs. This method was used on the first generation of the Nissan Leaf passenger car.

Air cooling is a very simple method that flows air through a battery pack and around the cells and modules. The trade-off for this simplicity is that it is not very effective. This can be seen particularly in high-performance battery packs where the cells are being worked hard.

As the pack performance increases, so does the cooling requirement. Liquid cooling systems have been previously described. However, an alternative to this is using a dielectric fluid, which is a non-electrically conductive fluid – an oil of some sort.

Although the specific heat capacity compared with water/glycol is lower, the benefit is that it can directly flow over the cells and electronics, providing an immediate point of contact with the components that require cooling.

Due to the hazard of short circuits, a water/glycol solution needs to be somewhat remote from the ‘live’ cooled surfaces, relying on the inefficient thermal conductivity through whatever medium material it flows through (cooling plate, tubes) before the heat is transferred to the liquid.

Alternatives to thermal management include using phase- or state-change materials, PTC (Positive Temperature Coefficient) elements, and heat tubes. However, these examples are beyond the scope of this article.

An interesting modern battery pack variation is the Cell-To-Pack (CTP). This is where the module stage is bypassed, and the cells are mechanically assembled directly into the whole pack and integrate body or chassis structural elements as part of the pack.

Depending on the OEM, there are further alternatives such as Cell-To-Chassis or Cell-To-Body, where the cells are directly integrated into the vehicle structure assembly.

Integrating Subsystems into a Single Unit

The design for the safety of the whole pack is an integration of all the subsystems into one single unit. Mechanical design, high- and low-voltage electrical design, sensors, pumps, valves, and all the elements of thermal management together, form the basis of the whole battery pack design and development.

At a concept level, whichever methodology is implemented requires the management of many trade-offs or compromises, which is a typical demand in the domain of whole vehicle design.

Recap

To recap our Battery Safety series, we discussed how to keep EV batteries safe at the cell level through chemistry. Manufacturers use cell chemistry to manage trade-offs in the batteries’ characteristics such as specific energy, specific power, safety, performance, lifespan, and cost.

We also looked at how battery safety is prioritised once the different cells are combined into a single module. This is where we found out how the construction of the cells in cylindrical, prismatic, or pouch formats can play a key role in the stability of modules.

In this article, we just finished exploring how modules are assembled into battery packs, with a particular focus on the structural integrity of each one. Having the right coolant system can determine whether the pack stays safe and functional once placed in an electric vehicle. All of these elements are important to battery safety and are carefully considered, monitored, tested, and integrated by Tembo’s expert team to ensure the highest standards of safety to operate an Electric Utility Vehicle (EUV) in a large variety of terrains, climates, and use cases.

For more news and insights, stay tuned to the Tembo e-LV website.

Tembo Secures Full On Road Homologation for Its Tembo Tusker 100% Electric Vehicles in US$10 bn Australasian Pick Up Truck Market

Tembo Tusker is only the 2nd 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

Tembo E-LV, a subsidiary of Nasdaq-listed B Corporation, 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 Australian 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.

For the full version of the article, visit the VivoPower Press Releases page.

Tembo announces definitive agreement with pre-eminent jeepney group, Sarao Motors, in the Philippines’ estimated US$10bn jeepney market

Iconic jeepneys are the main form of public transport in the Philippines, with over 200,000 in service

Jeepneys account for approximately one-third of carbon emissions in the country

Established in 1953, Sarao Motors is the Philippines’ pre-eminent jeepney group

Sarao Motors selected Tembo to be its exclusive partner to provide electric jeepneys Tembo will continue to be able to work with other companies to provide electric jeepney solutions

Tembo E-LV, a subsidiary of Nasdaq-listed B Corporation, VivoPower, is very pleased to announce its definitive partnership agreement with the iconic Philippine jeepney manufacturer Sarao Motors. 

With a strategic focus on delivering purpose-driven sustainable transport solutions, Tembo will provide Sarao with state-of-the-art and cost-effective solutions to electrify the next generation of public utility jeepneys. Deliveries of Tembo’s electric jeepney kits are already en route to the Philippines and expected to be at Sarao’s headquarters in Las Piñas City, Metro Manila within the next weeks.   

Sarao is the long-standing and iconic leader in jeepney manufacturing in the Philippines, establishing itself as the top choice over decades for the majority of jeepney co-operatives, operators and drivers. Since 1953, the company has become synonymous with the colourful and ornately designed public utility vehicle symbolising Filipino culture. In 1981, it was the first jeepney company to be commissioned by the Vatican to make a jeepney popemobile for Pope John Paul II’s visit to the Philippines.  

Importantly, Sarao owns the largest dedicated jeepney facility in the Philippines, with over 20,000 square-metres, based in a prime location in Las Piñas  City. Furthermore, it also has its own jeepney routes and jeepneys that service these routes. VivoPower and Tembo will provide technical support to Sarao as Sarao transforms this site into a state-of-the-art sustainable energy solutions facility with modern assembly facilities and charging stations.

Edgardo ‘Ed’ Sarao, Vice President, Sarao Motors, said: “Together, we are bringing back the glory days of the Philippines’ jeepney industry, creating local jobs and opportunities, while preserving the cultural heritage that the jeepney represents. With this partnership, we’re raising the bar for the Philippine transportation industry and starting a future that honours tradition and embraces innovation. Seeing Tembo’s remarkable speed, technical expertise, and cost efficiency, we know they are the right partner for this journey.”

Leonard John ‘LJ’ Sarao, Operations Supervisor, Sarao Motors, said: “The Philippine jeepney, ever so resilient, will receive a big overhaul with its new electric powertrain. Preserving its roots and improving performance and efficiency, let us all move forward with making our public transport safer and environmentally friendly. In partnership with Tembo, we are looking forward to propelling our cultural icon into the future.”

Executive Chairman and CEO of VivoPower, Kevin Chin, said: “We are absolutely honoured that Tembo is partnering with Sarao Motors, a household name in the Philippines that is well recognised and highly respected by the Philippines government and the Filipino people alike. For Sarao to have selected Tembo as its exclusive e-jeepney kits and solutions provider, it is a testament to the considered, careful, and comprehensive approach to the engineering quality and safety that underpins our culture and modus operandi. As a B Corporation, we are steadfastly committed to the triple bottom line of People, Planet and Profit. We will not yield to short-term pressures that could lead to decisions that compromise the safety and comfort of passengers of e-jeepneys and the economic livelihood of those who work in the jeepney industry, especially the co-operatives and drivers. Our mission with the electric jeepney programme is to help enable the jeepney industry in the Philippines to be modernised, electrified and resurrected. Jobs can be created by leveraging local craftsmanship. We are confident that our partnership with Sarao will boost job opportunities in the jeepney transportation and manufacturing sectors of the Philippines, ensuring that the traditional skills of jeepney builders are not only protected but also advanced through new EV technologies. Furthermore, the integration of Tembo’s EV chassis allows us to keep jeepneys on the road while meeting modern environmental standards, paving the way for a cleaner, greener future. The partnership honours the legacy of Sarao’s design, ensuring that the look and feel of the beloved jeepney remains intact while enhancing its efficiency, durability, and performance with next-gen EV tech. In Sarao, we have found a partner with the same ethos and long-term mindset, with genuine care for its customers, passengers and the people of the Philippines.  We are also looking forward to supporting Sarao behind the scenes as it seeks to revitalise the jeepney industry locally in the Philippines. Jeepneys are the number one cultural icon of the Philippines, and we fully support that the next generation of jeepneys need to ultimately be made by Filipinos for Filipinos.”

For the full version of the article, visit the VivoPower Press Releases page.

About Sarao Motors

Founded in 1953, Sarao Motors is an iconic Filipino company known for pioneering the design and manufacturing of the Philippine jeepney, a symbol of the country's cultural and transportation heritage. Over the decades, Sarao has continuously evolved, providing durable and customizable jeepneys that cater to the needs of Filipino commuters. Today, Sarao Motors is at the forefront of innovation, driving sustainable solutions through the development of electric jeepneys while preserving the tradition and legacy of the iconic jeepney industry.

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shareholders@vivopower.com

Battery Safety Series: How to Keep EV Batteries Safe at the Module Level

Every electric vehicle maker has to make sure that EV batteries are safe to use. EV batteries store large amounts of energy, and if not properly designed, manufactured, and maintained, can pose hazards, although these are significantly less likely than fire hazards in ICE (Internal Combustion Engine) vehicles.

In this edition of our Battery Safety series, we will look at how manufacturers approach the design of their EV batteries at the module level. Let’s find out how much attention these companies pay to keep their batteries safe.

What is a Module?

A module is a collection of cells that are kept in an enclosure. When several of these modules are assembled into a single unit, they are called a complete battery pack. A recurring theme for battery safety at every level is thermal management – keeping the cells at a temperature they “like” to be at.

At a more detailed level, a battery module is a collection of cells mechanically secured and electrically connected in a combination of series and parallel connections to provide the desired voltage and capacity.

At this stage, the format of the cell is chosen from 3 basic formats:

Each of these formats shows certain safety characteristics that can be compared to make the choice.

Within the module, the most important safety device is the Battery Management System (BMS). Typically, a module would include a local BMS board that would monitor cell voltage and temperature, reporting to the BMS master.

If the sensors detect temperatures increasing, the BMS can act accordingly such as de-rating the power or increasing the cooling.

Using Cylindrical Cells

Alkaline cylindrical cells (such as sizes AAA; AA; C; D etc) have been used for decades for consumer electronics and other segments. For lithium cells, a commodity format used for consumer electronics is known as the 18650 cell – similar in size to the alkaline AA cell.

Many manufacturers offer this cell, and billions are manufactured each year. It’s easy to see why early EVs were manufactured using these cells, albeit in large quantities – for example, the original Tesla Roadster battery pack used 6,831 of these cells. Other sizes of cylindrical cells are available – larger ones are increasingly common.

Temperature control can be maintained by locating the cells next to cooling elements within the module. These can take the form of a hollow plate or strips allowing cooling fluid (usually water/glycol solution) to flow through, removing heat from the cells.

A more effective method is immersion cooling where a dielectric fluid flows directly through the module and the gaps formed in the stack of cylindrical cells. Internally, the module is ‘wet’ – electronics, contacts, everything. Using a non-conductive dielectric fluid enables this without any risk of short circuits and is the most effective way of transferring the heat out of the module.

Additional safety measures can be used such as flame-retardant lining and separating materials between the cells.

Using Pouch Cells

Pouch cells offer advantages over cylindrical cells in that large formats can be produced, reducing the overall cell count. This simplifies the mechanical design of the module, however, as pouch cells are not as mechanically robust as cylindrical cells, attention should be paid to the cell carrier construction.

Additionally, as the cells are charged and discharged, they may swell and contract so this needs to be considered too. Cooling may be simpler than with cylindrical cells as pouch cells offer a large surface area to volume ratio. Heat may be removed simply by flowing air through the module or using thermally conductive material between the cells to move the heat to a cold plate.

Using Prismatic Cells

Prismatic cells offer a simple solution to module construction as they have a robust outer case but offer a much-reduced cell count due to their size. They also offer an improved surface area to volume compared with cylindrical cells for heat rejection in ways described earlier.

Additional Module Requirements

The mechanical design for an automotive application is incredibly important. A vehicle is a moving object, with dynamic inputs, shock loading, and static loading due to the mass of the cells and modules.

Typical structural analysis techniques should be used to understand the stresses on the mechanical structure of the battery cell carriers, the modules, and their mountings within the pack, to design a robust, protective cell enclosure.

Fluid flow analysis may be conducted to optimise the cooling system to match the heat rejection of the cells.

Up Next

We have discussed how to keep EV batteries safe at the cell level and now at the module level. In the next instalment of our Battery Safety series, we will find out the safety measures that can be included in the design of the complete battery pack, including some alternative cooling methods.

For more News & Insights, stay tuned to the Tembo e-LV website.

Tembo E-LV, a Subsidiary of Nasdaq-Listed VivoPower Executes a Definitive Business Combination Agreement with CCTS for a Combined Enterprise Value of US$904 Million

Independent third-party fairness opinion was obtained and satisfactorily completed

Pro forma fully diluted combined enterprise value assumes no public trust redemptions

Tembo E-LV, a subsidiary of Nasdaq-listed B Corporation, VivoPower, today announced that it has executed a definitive Business Combination Agreement (BCA) with Cactus Acquisition Corp. 1 Limited (CCTS), a Cayman Islands exempted special purpose acquisition company. 

The BCA assigns a pro forma enterprise value to the combination of Tembo and CCTS, assuming zero redemptions by CCTS public shareholders at or before closing of US$904 million. 

The BCA was entered into by the parties following due diligence and receipt by the CCTS board of directors of a fairness opinion from an independent third party. 

The parties expect a registration statement on Form F-4 to be filed with the U.S. Securities and Exchange Commission (SEC) in connection with the proposed transaction (Business Combination), which they are working to close, subject to satisfaction (or waiver, as applicable) of closing conditions, including, without limitation, the completion of the SEC review process and approval of the transaction by CCTS shareholders, prior to the end of calendar year 2024. 

In connection with the Business Combination, the parties will submit to Nasdaq an application to list the securities of a newly formed company (Tembo Group) established in connection with the transaction on Nasdaq.

Advisors

Chardan is acting as exclusive financial and capital markets advisor to VivoPower and Tembo. White & Case LLP is serving as US legal advisor to VivoPower and Tembo; NautaDutilh N.V. is serving as Dutch legal counsel to VivoPower and Tembo. Ellenoff Grossman & Schole LLP is serving as U.S. legal advisor to CCTS; De Metz Advocaten N.V. is serving as Dutch counsel to CCTS.

For the full version of the article, visit the VivoPower Press Releases page.

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Shareholder Enquiries

shareholders@vivopower.com

Tembo Extends Heads of Agreement Exclusivity for US$838M Merger with CCTS

Exclusivity period for Heads of Agreement extended to 31 August 2024

Extension to enable Tembo to consummate material transaction and update disclosure

Nasdaq-listed B Corp VivoPower announced today that its electric vehicle subsidiary, Tembo e-LV, has agreed to a further one-month extension of its exclusive heads of agreement with Nasdaq-listed Cactus Acquisition Corporation I (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.

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

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shareholders@vivopower.com

The Tembo Tusker 100% Electric Ute Launches To Take On The $16bn Pa Australian Ute Market

Tembo announces the Australian launch of its range of 100% electric utes, the Tembo Tusker. This marks a significant milestone in Tembo's mission to electrify global off-road vehicles, and the sector-leading price demonstrates the power of Tembo's next-generation global design and partner network.

Founded in 1969 in Eindhoven, The Netherlands, Tembo is a global leader in off-road electric vehicles for demanding users and first trialled its range of 4x4 conversions in Australia in 2018.

The Tembo Tusker, a 100% electric single and dual cab ute, draws on this heritage of innovation and excellence. With design centres in Europe and global platform partners, the Tembo Tusker achieves performance at a sector-leading price from $74,000 + GST and ORC. The range includes 65Kwh and 77Kwh variants giving ranges of 330km to 400km on a single charge.

Chris Mallios, Chief Commercial Officer of VivoPower, the NASDAQ-listed parent company of Tembo, said: “The Tembo Tusker represents the best value electric ute in Australia, with a starting price from $74,000. We’ve achieved this through our years of experience building electric 4x4 vehicles for demanding users, and our capital light production strategy that partners with global best-of-breed manufacturers and suppliers. We are confident that the Tusker’s performance and affordability will lead the charge in electrifying the $16bn pa Australian Ute market.”

For more information about the Tembo Tusker and to stay updated with VivoPower's latest developments visit

Australia www.temboev.com.au

Global www.temboelv.com

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Media Enquiries

media@temboev.com.au

Tembo Secures 200 Tuskers Worth US$10M

NASDAQ-listed B Corp, VivoPower announced today that its electric vehicle subsidiary, Tembo E-LV, has secured a minimum 200 committed Tembo Tuskers, its full electric pick up utility vehicle, for delivery to customers and partners in Australia and New Zealand by February 2026.

This is following Australian pick up truck sales in May 2024 of approximately $US700m (source: VFACTS/FCAI, 4 June 2024) and stronger than expected interest at a leading Australian mining-focused trade show.

The Tembo Tuskers come in both left-hand and right-hand configurations, with single and dual cab options available.  They have a base range of 330 kilometres, as well as a payload capacity of 1 tonne, and an unbraked towing capacity of 750 kilograms.  Importantly they are priced at 15% below other comparable electric utility vehicles in the launch markets of Australia and New Zealand.  The initial order of Tembo Tuskers is being prepared for delivery to partners and customers in Australia, with full on-road homologation on track to be granted by July 2024.

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.

The Tembo Tusker range will augment the Tembo conversion programs, 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, Tembo 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 solutions to meet the diverse requirements of its global customer base.

More broadly, VivoPower’s strategic focus remains on delivering purpose-driven sustainable energy solutions to electrify B2B fleets, encompassing aftermarket solutions, charging, digital twins, software, and data analytics, aligning with evolving market dynamics and regulatory frameworks.  The Tembo Tuskers will accelerate the pathway to delivering on this.  

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

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Shareholder Enquiries

shareholders@vivopower.com

Battery Safety Series: How to Keep EV Batteries Safe at the Cell Level

Designing a Lithium-ion Battery for Safety

In an era dominated by technological advancements, lithium-based batteries have become an indispensable part of our daily lives, powering everything from our smartphones to electric vehicles.

Just as petrol/diesel poses risks as a fuel source, lithium batteries carry their own set of potential hazards. Fortunately, these risks can be effectively managed through meticulous design considerations at every stage, from the individual cell to the assembly of the complete battery pack.

In this first ‘brief’ of our Battery Safety series, we consider certain intricacies of battery design at the cell level. Let’s explore the various methods to minimise risks and enhance safety.

Choosing the Right Chemistry

The chemistry choice is where it starts, and that means managing trade-offs. There are 20 or more characteristics in choosing cell chemistry, but the main ones are:

Each of these characteristics can be plotted to make a comparison of the different chemistries. To illustrate the point, Lithium Titanate is probably the most inherently stable (therefore safe) chemistry, but the trade-off is that specific energy is low. From a practical standpoint, for a given battery capacity, a Titanate pack would be physically bigger by about a third compared with some of the packs with other chemistries.

Cell Construction for Safety

The physical construction of the cell can offer additional elements of safety. The cell anode and cathode are separated by a permeable layer (the separator) within the electrolyte which allows the flow of ions from one side to the other.

A short circuit within the cell would cause a build-up of heat potentially melting the separator, therefore escalating the short circuit. This chain reaction can cause ‘catastrophic failure’ (to use an engineering term) of the cell. Some cells employ a ceramic separator which has a higher melting point than other types, therefore preventing the chain reaction.

Another element of cell design for safety is the addition of a vent or valve. One effect of a cell's internal failure is a build-up of pressure. The purpose of the vent is to allow this pressure to ‘vent’ outside of the cell to prevent rupture or explosion of the cell.

Other numerous design elements can be employed for cell safety, such as non-combustible case materials.

Safeguarding EVs through their Batteries

Choices made during the battery cell design process play an important role in mitigating potential risks. From carefully selecting cell chemistries with a balanced consideration of specific energy, power, safety, performance, lifespan, and cost, to implementing physical construction features such as ceramic separators and pressure-relief vents, each element contributes to a safer battery design.

Tembo’s team of engineers ensures that all aspects of battery safety are considered to ensure the safety and reliability of its Electric Utility Vehicle (EUV) conversion kit.

Join us in the next edition of our Battery Safety series as we look at the safety measures at the module level of battery design. We will unravel more layers of innovation aimed at ensuring the secure and reliable use of lithium-based batteries.

For more News & Insights, stay tuned to the VivoPower website.

Tembo Launches Full Electric Tembo Tusker with First 50 Committed Orders

Inaugural partner and customer trials have exceeded expectations

Tembo has an initial commitment of 50 orders worth an estimated US$2.5m

Tembo Tusker range complements current conversion kit program, offering more choice

NASDAQ-listed B Corp, VivoPower announced today that its electric vehicle subsidiary, Tembo E-LV, has secured its first 50 committed orders for the Tembo Tusker, its full electric pick up utility vehicle.

The Tembo Tuskers come in both left-hand and right-hand configurations, with single and dual cab options available.  They have a base range of 330 kilometres (with the option to extend to 1000 kilometres), as well as a payload capacity of 1 tonne, and an unbraked towing capacity of 750 kilograms.  Importantly they are priced at 15% below other comparable electric utility vehicles in the launch markets of Australia and New Zealand.  

The initial order of Tembo Tuskers is being prepared for delivery to partners and customers in Australia, with full on-road homologation expected to be granted by July 2024.

The Tembo Tusker range will augment the Tembo conversion programs, 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, Tembo 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 solutions to meet the diverse requirements of its global customer base.

More broadly, VivoPower’s strategic focus remains on delivering purpose-driven sustainable energy solutions to electrify B2B fleets, encompassing aftermarket solutions, charging, digital twins, software, and data analytics, aligning with evolving market dynamics and regulatory frameworks.  The Tembo Tuskers will accelerate the pathway to delivering on this.

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

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Shareholder Enquiries

shareholders@vivopower.com

Tembo Launches Full Electric Pick Up Utility Vehicle with Capital Light Global Supply Chain

Ground breaking strategic development allows Tembo to bypass capex intensive assembly process and fast track path to profitable revenues

Fully electric OEM pickup utility vehicle facilitated by establishment of world class supply chain  across Asia augmented with European design and development heritage

Initial B2B orders already secured for the EU-certified OEM vehicles, which are on track for full homologation by July 2024

Tembo OEM vehicle range complements current EUV conversion kit program, offering more choice to B2B corporate fleet customers

Strategic supply chain will also materially reduce direct costs for the Tembo EUV conversion kit and Jeepney programs

The OEM program is projected to expand Tembo’s total addressable B2B market by over 100% to $203 billion

Executive Chairman of VivoPower will host a strategy and product update call on June 5, 2024

The NASDAQ-listed B Corp, VivoPower has announced a major transformational strategic update today with regards to its electric vehicle subsidiary, Tembo e-LV.

Over the past 18 months, Tembo has diligently worked towards establishing a robust supply chain across Asia, including securing best-in-class partners in the Philippines, Thailand, China, and India, accelerating the ability to serve diverse markets globally.

The establishment of this supply chain has enabled Tembo to procure, evaluate, and now introduce a fully electric OEM pickup utility vehicle. The base model has a range of 330 kilometres, as well as a payload capacity of 1 tonne, and an unbraked towing capacity of 750 kilograms. The inaugural shipment of EU-certified and rigorously tested vehicles have already arrived in Australia. This initial order is being prepared for delivery to partners and customers, with full on-road homologation expected to be granted by July 2024.

The Tembo OEM program will augment the Tembo EUV conversion program, 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, Tembo 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 solutions to meet the diverse requirements of its global customer base.

The establishment of our strategic supply chain in Asia also has profound financial implications for both VivoPower and Tembo, alleviating the necessity to procure substantial funds for capital expenditure towards assembly and production facilities. This transformation of Tembo's business model towards a more capital-light approach not only accelerates delivery schedules and revenue streams but also fortifies the foundation for sustainable growth. Moreover, this development also delivers a positive effect on our EUV conversion and Jeepney PUV businesses, enabling significant reductions in direct costs for both programs.

More broadly, our strategic focus remains on delivering purpose-driven sustainable energy solutions to electrify B2B fleets, encompassing aftermarket solutions, charging, digital twins, software, and data analytics, aligning with evolving market dynamics and regulatory frameworks.

VivoPower’s Executive Chairman and CEO, Kevin Chin, said: “The establishment of our strategic supply chain is the culmination of 18 months of extensive engagement to build and fortify relationships with best-in-class partners across Asia.  We have executed upon a ‘Pilot – Partner – Procure” strategy which materially improves our competitive pricing, significantly reduces capex requirements, and accelerates speed to market. The outcome has surpassed our expectations, so much so, that we are now in a position to bypass the traditionally most risky and capital-intensive scale-up assembly and production phase with the introduction of the Tembo OEM range.  Our pre-marketing engagement with our partners and potential customers has provided us with very positive feedback and given us the confidence to accelerate the launch of the range globally.  The Tembo OEM program is also B2B focussed and augments our EUV conversion business, including the Jeepney program.  Both the EUV and Jeepney PUV business units will benefit from the strategic supply chain that is now in place, with a material reduction in direct costs for both.  Importantly, with the European heritage of Tembo, as well as our first-class team of experienced EV engineers and executives, there is no compromise on safety, quality, and reliability. We are also cognizant that in order to be truly sustainable, our solutions need to be economically viable for our customers as well as environmentally beneficial. These transformational strategic initiatives we have executed upon will deliver on both fronts for our partners and customers alike. Furthermore, the transition to a capital light business model that accelerates our path to profitable revenues is a benefit for our shareholders.”

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

Contact

Shareholder Enquiries

shareholders@vivopower.com