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

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.

VivoPower International PLC ("VivoPower") is pleased to announce that it has signed a definitive agreement (“Agreement”) with Ulti-Mech Pty Ltd (“Ulti-Mech”) for Ulti-Mech to market, distribute and service Tembo-powered electric utility vehicles across Western Australia, home to half of Australia’s mines and the leading destination in the world for mining investment.

Ulti-Mech is a 100% Australian-owned and operated automotive service company headquartered in Newman, Western Australia. It has three locations enabling comprehensive coverage of Western Australia from north to south with plans to expand to two additional large mining towns in the Pilbara region, Tom Price and Karratha. The company provides specialised mining and 4WD automotive services through expert on-site advisors and highly qualified mechanics to leading large cap mining companies and their contractors.

Under the Agreement, Ulti-Mech has committed to sell a minimum of 1,000 Tembo EV conversion kits from execution of this Agreement over the next 5 years across Western Australia. Ulti-Mech will be responsible for acquiring utility vehicles, converting the vehicles to ruggedised Electric Utility Vehicles (“EUV”) using Tembo conversion kits, selling the units to end-customers and providing after-sale servicing and maintenance with support from Tembo.

The Tembo EV kits will transform new and second hand diesel-powered 4x4 LandCruiser and Hilux vehicles into ruggedised EUVs for use in the mining industry, as well as other sectors. 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:

“Western Australia is one of the world’s largest mining markets and we have been seeking to partner with a well-established and highly reputed local leader in mine spec and 4WD automotive services. We are delighted to partner with Ulti-Mech and cater to its blue chip clientele, including some of the world’s pre-eminent mining companies. Ulti-Mech’s coverage across Western Australia is strategically important, given it is Australia’s largest state by land mass with mines located in remote locations from north to south. Importantly, Ulti-Mech is an Authorised Inspection Station service provider for the Department of Transport of Western Australia. We look forward to co-locating Tembo trained engineers across Western Australia, to support Ulti-Mech and its team to help its customers towards achieving their net zero objectives.”

John Adams, Ulti-Mech’s Founder and Managing Director said:

“I am thrilled to enter into a partnership with Tembo. With three locations in the heart of Western Australia’s mining market, we are perfectly placed to successfully supply and service the Tembo electric utility vehicle.  With increased pressure for mining companies to start their Net-Zero journey, the Tembo solution is a significant step in that direction.”

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 Ulti-Mech

Ulti-Mech is a 100% Australian-owned and operated company, first established in the Pilbara mining town of Newman in Western Australia. The company has over the years built a highly experienced team with specialised knowledge across a range of mining and 4WD automotive services. Ulti-Mech has expanded into the Perth metropolitan and Southern areas of Western Australia with three locations strategically located to provide coverage to its customers throughout Western Australia.

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

Forward-Looking Statements

This communication includes certain statements that may constitute “forward-looking statements” for purposes of the U.S. federal securities laws. Forward-looking statements include, but are not limited to, statements that refer to projections, forecasts or other characterisations of future events or circumstances, including any underlying assumptions. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements may include, for example, statements about the achievement of performance hurdles, or the benefits of the events or transactions described in this communication and the expected returns therefrom. These statements are based on VivoPower’s management’s current expectations or beliefs and are subject to risk, uncertainty, and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive and/or regulatory factors, and other risks and uncertainties affecting the operation of VivoPower’s business. These risks, uncertainties and contingencies include changes in business conditions, fluctuations in customer demand, changes in accounting interpretations, management of rapid growth, intensity of competition from other providers of products and services, changes in general economic conditions, geopolitical events and regulatory changes, and other factors set forth in VivoPower’s filings with the United States Securities and Exchange Commission. The information set forth herein should be read in light of such risks. VivoPower is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements whether as a result of new information, future events, changes in assumptions or otherwise.

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Shareholder Enquiries

shareholders@vivopower.com

VivoPower is pleased to announce that the Company and its wholly-owned subsidiary, Tembo e-LV B.V., have entered into a Memorandum of Understanding with a Jordanian Organisation to sell, distribute and market 4×4 Toyota vehicles which have been fully electrified by Tembo (Electrified Vehicles) and/or the Tembo electrification conversion kit for Toyota 4×4 vehicles (Conversion Kits).

Under the proposed agreement, the Jordanian Organisation intends to sell 1,000 Tembo e-LV conversion kits from execution of this agreement until 30^th September 2027. The parties to the proposed agreement will work to finalise a Definitive Agreement as soon as practicable, and prior to 31^st December 2022, unless the parties agree to an extension. All purchase commitments will be subject to the terms and conditions set forth in the Definitive Agreement.

In October 2021, VivoPower established itself in the United Arab Emirates (UAE) to extend its services to the Middle East and surrounding markets. Today’s announcement is the first significant agreement for the subsidiary and progression of the company’s growth strategy for the region.

Tembo’s conversion kits transform diesel-powered Toyota Land Cruiser and Hilux vehicles into ruggedised electric light vehicles for use in mining and other hard-to-decarbonise sectors. Tembo e-LV products are a key component of VivoPower’s turnkey net-zero solutions for the decarbonisation of corporate and public organisations.

Kevin Chin, Executive Chairman and CEO of VivoPower, said: “We are very pleased to move forward on gaining a new partner for Tembo in the region. This is in line with our strategy to expand our commercial activities and operations in the Middle East, the largest market for Toyota Land Cruisers in the world, and naturally follows the establishment of our local subsidiary for the region in the UAE in October last year. We look forward to cementing this partnership and servicing Jordan with our decarbonisation solutions.”

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

VivoPower’s wholly owned subsidiary, Tembo e-LV B.V. (“Tembo”), has been awarded the ISO14001 certification. 

ISO14001 Environmental Management System is a certification given to companies seeking to manage their environmental responsibilities in a systematic manner. The organisation’s management system must be able to contribute to the environmental pillar of sustainability. 

As the ISO describes it, ISO14001 “helps an organisation achieve the intended outcomes of its environmental management system, which provide value for the environment, the organisation itself and interested parties.” 

In addition, Tembo has retained its ISO9001 Quality Management System certification which is given to organisations that demonstrate the ability to consistently provide products and services that meet customer and applicable statutory and regulatory requirements. The company should also aim to enhance customer satisfaction through the effective application of the system. 

Aside from the ISO recommendation, TUV SUD also provided a comprehensive list of opportunities for improvement for Tembo’s processes.  

The next ISO accreditation is scheduled for March 2023.

Atlas Iron is a leading iron ore explorer, developer, and producer based out of Western Australia

VivoPower is pleased to announce that its wholly-owned subsidiary, Tembo E-LV, has secured an initial order from Atlas Iron, a leading iron ore mining company based in Perth, Western Australia, and a subsidiary of the Hancock Prospecting Pty Ltd (HPPL). Atlas Iron operates the Mt Webber, Sanjiv Ridge, and Miralga mines.

Under the leadership of the Executive Chairman, Gina Rinehart, HPPL is the most successful private company in Australia’s history, and one of the most successful private mining companies in the world.

Kevin Chin, VivoPower’s Executive Chairman, and Chief Executive Officer, said: “We are delighted to be assisting Atlas Iron in their journey towards electrification and energy efficiency. With the opening of borders across Australia and Southeast Asia, we have been increasing our engagement with other groups and expect to be announcing additional orders in due course.”

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

Toyota Australia is a wholly-owned subsidiary of Toyota Motor Corporation,
the world’s largest car manufacturer

VivoPower has now established a Tembo Australia subsidiary and dedicated Tembo resources
to this Toyota Australia programme

VivoPower International is pleased to announce that it has executed a Design Services Agreement (DSA) with Toyota Motor Corporation Australia Limited (TMCA) for its wholly-owned subsidiary, Tembo e-LV to be commercially engaged in relation to the next stage of design of electrification solutions for the Toyota LandCruiser 70 for off-road applications in Australia.

The DSA reflects the commercial next step in Tembo’s collaboration programme with TMCA, which was initially announced as a binding letter of intent in June 2021. VivoPower has established a Tembo subsidiary in Australia and will commit dedicated Tembo resources to this important programme.

VivoPower’s Executive Chairman and CEO, Kevin Chin said: “We are honoured to have entered into this commercial agreement with TMCA and are fully committed to working closely with the TMCA team to deliver an electrified LandCruiser 70, which is fit for purpose and safe for corporate fleets, especially for off-road use cases such as mining. In this regard, we have now dedicated a team within Tembo that is solely focused on this important TMCA project. We will also be sub-contracting our partner in Australia, GB Auto, given their dedicated mining sector experience.”

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

About VivoPower

VivoPower is a sustainable energy solutions company focused on electrification solutions for customized and ruggedized fleet applications, and solar and critical power technology and services. The Company’s core purpose is to provide its customers with turnkey decarbonization solutions that enable them to move toward net-zero carbon status. VivoPower is a certified B Corporation with operations in Australia, Canada, the Netherlands, the United Kingdom, the United States, and the United Arab Emirates.

About Toyota Motor Corporation Australia

Toyota Motor Corporation Australia Limited is a wholly-owned subsidiary of Toyota Motor Corporation, the world’s largest car manufacturer.

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

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Investor Relations

shareholders@vivopower.com

Media Enquiries

vivopower@secnewgate.co.uk

Sophie Morello / Jessica Hodson Walker / Richard Bicknell

We would like to thank everyone who attended the Transport Compleet exhibition in Gorinchem. It was great to see and hear all the enthusiasm about our products.

We are thrilled to announce our participation as an exhibitor at Minexpo Las Vegas from September 13 to 15, 2021. We will be accompanied by the Tembo e-LV B.V. team as well as VivoPower to present you the electric Cruiser, the new standard in mining mobility!

Five years ago, we presented the very first Tembo 4x4 e-LV Electric Cruiser. Time flies!

• Leading Mongolian automotive distributor Bodiz International Group LLC intends to purchase 350 electric light vehicle conversion kits from VivoPower subsidiary Tembo e-LV B.V. over the next five years.
• VivoPower estimates the value of the Distribution Agreement to be US$29m.
• The Distribution Agreement marks the Company’s fourth major distribution deal across four continents.

VivoPower is pleased to announce that the Company has signed a definitive agreement with Bodiz International Group for Bodiz to distribute electric light vehicles (e-LVs) in Mongolia using e-LV conversion kits from VivoPower’s wholly-owned subsidiary Tembo. Under the agreement, Bodiz intends to purchase 350 Tembo e-LV conversion kits through December 2026. The company estimates these orders to be worth up to US$29 million in potential revenue over the life of the Distribution Agreement. Bodiz will be responsible for acquiring original vehicles from Toyota, converting the vehicles to ruggedised e-LVs using the Tembo solutions, selling the units to end-customers, and providing ongoing servicing and maintenance. The Tembo kits transform diesel-powered Toyota Land Cruiser and Hilux vehicles into ruggedised e-LVs for use in mining and other hard-to-decarbonise sectors, including construction and defence. Alongside solar generation, battery storage, and on-site power distribution, Tembo e-LV products are a key component of VivoPower’s turnkey net zero solutions for corporate decarbonisation.

This Distribution Agreement marks VivoPower’s fourth major distribution deal in 2021 for Tembo e-LVs across four continents and continues to advance the company’s aim to build a global Tembo distribution network before the end of this year. The company previously completed distribution deals with GB Auto Group in Australia and Acces Industriel Mining Inc. in Canada and has also announced a non-binding Heads of Terms with Arctic Trucks Limited for distribution of Tembo e-LVs in Norway, Sweden, Iceland, and Finland. The latter deal is expected to be finalized in the coming weeks.

Based in Ulaanbaatar, Bodiz has been distributing ruggedised SUVs and other heavy-duty vehicles to the Mongolian market since its founding in 1997. In addition to Tembo vehicle distribution, the Distribution Agreement includes plans for Bodiz to send technicians to Tembo’s Netherlands headquarters to be trained in e-LV conversion, as well as a potential expansion of Bodiz’s facilities to service Tembo electric vehicles.

Kevin Chin, Executive Chairman and CEO of VivoPower, said: “We are pleased to continue expanding our global distribution network for Tembo e-LVs through this partnership with Bodiz. With the signing of this Distribution Agreement, Tembo e-LVs will be available to mining and other heavy industrial customers aiming to decarbonise their fleet operations through distribution partners on four continents. We look forward to building this relationship and working with Bodiz to support more customers on the drive to net zero.”

Dulguun Baatarsukh, CEO of Bodiz, said: “Bodiz is very glad to become a member of the Tembo e-LV family. Mongolia's economy, especially the mining sector, is growing rapidly with one of the world’s richest mineral resources. It is an honour to sign this Distribution Agreement with VivoPower for Bodiz to introduce Tembo e-LVs to our domestic market and take part in the global change of electrification. I hope we will continue to strengthen this partnership and cooperation in the long run and make a significant contribution to the mining sector in our region.”

VivoPower is pleased to announce that the company has entered a binding Letter of Intent with Toyota Motor Corporation Australia Limited to create a collaboration programme between VivoPower and Toyota Australia for the electrification of Toyota Land Cruiser vehicles using conversion kits designed and manufactured by VivoPower’s wholly-owned electric vehicle subsidiary, Tembo e-LV B.V.

The binding LOI sets out the terms for the purchase of preliminary goods and services and the basis upon which a Master Services Agreement (MSA) is expected to be finalised to govern an electric vehicle conversion partnership between VivoPower and Toyota Australia. Final terms of the MSA are under negotiation, but upon completion, it is intended that VivoPower would become Toyota Australia’s exclusive partner for Land Cruiser 70 electrification for a period of five years, with a further two-year option (seven years in total).

Kevin Chin, Executive Chairman and CEO of VivoPower, said: “We are extremely pleased to be collaborating with Toyota Motor Corporation Australia, part of the world’s largest original equipment manufacturer on the electrification of their Land Cruiser vehicles with our Tembo conversion kits. The Land Cruiser is the vehicle of choice worldwide for mining and other ruggedised industries. This partnership with Toyota Australia is a testament to the outstanding potential of Tembo’s technology to decarbonise transportation in some of the world’s toughest and hardest to decarbonise industries. More importantly, it is a tremendous opportunity for us to work directly with Toyota Australia to optimise the Tembo product and deliver it to more customers around the world, helping them to achieve their net zero carbon objectives in the process.”

While the MSA is still to be finalised, the LOI is a binding agreement between VivoPower and Toyota Australia to begin collaboration on Land Cruiser electrification efforts.

VivoPower and Toyota Australia intend to finalise the MSA as soon as practicable.

Leading Canadian industrial equipment distributor Acces Industriel Mining Inc. intends to purchase 1,675 electric vehicle conversion kits over five-plus years, marking VivoPower’s second major distribution agreement for Tembo e-LV products.

VivoPower has signed a definitive agreement with Canadian industrial equipment distributor Acces Industriel Mining Inc. for Acces to distribute electric light vehicles in Canada, using e-LV conversion kits from VivoPower’s wholly-owned subsidiary, Tembo e-LV B.V.

Under the agreement, Acces intends to purchase 1,675 Tembo e-LV conversion kits between now and December 2026. The company estimates these orders to be worth US$120m in total value over the next five-and-a-half years, with a delivery schedule weighted towards the latter part of the Distribution Agreement period. Acces will be responsible for acquiring original vehicles from Toyota, converting the vehicles to ruggedised e-LVs using the Tembo solutions, selling the units to end-customers and providing ongoing servicing and maintenance.

The Tembo kits transform diesel-powered Toyota Land Cruiser and Hilux vehicles into ruggedised e-LVs for use in mining and other hard-to-decarbonise sectors, including construction and defence. Alongside solar generation, battery storage, and on-site power distribution, Tembo e-LV products are a key component of VivoPower’s turnkey net zero solutions for corporate decarbonisation.

The Distribution Agreement follows January’s distribution agreement with GB Auto Group Pty Limited and GB Electric Vehicles Pty Ltd. The company has announced plans to complete a global Tembo distribution network by the end of this year, and discussions with other distributors are active and ongoing across Europe, Africa, the Middle East, the Americas, and Asia.

VivoPower selected Acces as the company’s distribution partner in Canada because of Acces’s established, long-term experience supplying, customising, and servicing Toyota Land Cruisers, as well as its extensive active relationships with dozens of mining companies which make Acces a leading provider of ruggedised vehicle solutions to Canada’s mining industry.

Kevin Chin, Executive Chairman and CEO of VivoPower, said: “We are very pleased to have finalised this Distribution Agreement with Acces, which will provide the springboard for VivoPower to deliver our Tembo e-LVs and complementary sustainable energy solutions to Canadian customers. As a leading and trusted provider of equipment and services to the Canadian mining industry, Acces’s selection of Tembo as their preferred electric vehicle solution is a testament to the quality of the Tembo product and the value it offers to mining and other industrial customers seeking net zero carbon solutions. Both VivoPower and Acces continue to see significant demand for corporate decarbonisation solutions, and we look forward to working together to help Canadian organisations achieve their net zero ambitions.”

Jean Dion, CEO of Acces, commented: “Acces is excited to complete this Distribution Agreement with VivoPower and to begin the work of delivering fully-electrified Tembo vehicles to our customers across the mining, forestry, industrial, and construction markets. We are confident that the Tembo product offers outstanding value to our customers who seek to reduce their carbon emissions, and Acces will not distribute any competing product over the life of the Distribution Agreement. As demand for net zero solutions continue to increase, we look forward to working with VivoPower and Tembo to provide the electric vehicle solutions our customers demand.”

Jos van der Linden has joined our team as Managing Director (Netherlands) for our electric light vehicle division, Tembo e-LV B.V.

Jos is a seasoned executive who has spent his career at the forefront of vehicle electrification and renewable energy. For more than a decade, he worked for Spijkstaal Elektro, an innovative international company that was the first in the market to convert internal combustion engine cars into fully electric and serial electric hybrid vehicles. He has also been a leader in the development of many customer-specific, electrically driven solutions in various markets, with experience in battery technology, solar, and wind energy applications.

In addition to his years of experience delivering sustainable energy solutions, Jos has held several management positions within both family businesses and publicly traded companies. He has a background in business economics, supplemented with studies in the fields of Sustainable Materials Management and Electric Vehicles and Mobility.

Jos possesses extensive direct experience in the development of electric vehicles, battery technology, and related electric power solutions. We are delighted to welcome him to VivoPower and look forward to his leadership as we hyperscale the Tembo business.

VivoPower also recently welcomed James Howell-Richardson as General Counsel. Based in London, James spent the last decade working as part of the senior leadership team for NYSE-listed Bristow Group Inc., the world’s leading global helicopter operator. In that role, he oversaw the legal function and several technical areas including joint ventures, mergers and acquisitions, corporate governance, public procurement, and commercial contract negotiations with blue-chip clients.

James has led and been an integral part of numerous complex corporate and organisational restructures and transformations. He has also held several international directorships across the globe. His depth of strategic, management, and legal knowledge gives him an all-around ability to help support and deliver the objectives of VivoPower. He will be a vital member of our leadership group.

VivoPower and its wholly-owned subsidiary, Tembo e-LV B.V., have entered a non-binding Heads of Terms with leading ruggedised vehicle converter Arctic Trucks for Arctic Trucks to convert and distribute Tembo electric light vehicles in Norway, Sweden, Iceland, and Finland.

Under the proposed agreement, Arctic Trucks would commit to purchase 800 Tembo e-LV conversion kits through December 2026. Based upon the company’s estimates, these orders could be worth an estimated US$58m in total value over the life of the proposed agreement. The proposed agreement must be finalised prior to June 30, 2021, unless the parties agree to an extension, and all purchase commitments would be subject to the terms and conditions set forth in the final agreement.

The Tembo kits transform diesel-powered Toyota Land Cruiser and Hilux vehicles into ruggedised e-LVs for use in mining and other hard-to-decarbonise sectors, including construction and defence. Alongside solar generation, battery storage, and on-site power distribution, Tembo e-LV products are a key component of VivoPower’s turnkey net zero solutions for corporate decarbonisation.

This proposed agreement would mark VivoPower’s third major distribution deal in 2021 for Tembo e-LVs across three continents and would continue to advance the company’s aim to build a global Tembo distribution network before the end of this year. The company previously completed a distribution deal with GB Auto Group in Australia in January, and announced a non-binding Heads of Terms with Acces Industriel Mining Inc. for distribution of Tembo e-LVs in Canada last week. The latter deal is expected to be formalised before the end of June.

Arctic Trucks specialises in the re-engineering and conversion of four-wheel drive vehicles for extreme conditions, particularly in the harsh polar regions. Arctic Trucks vehicles have enabled ventures to the North Pole and erupting Icelandic volcano Eyjafjallajökull on television’s Top Gear and set the Guinness World Record for the fastest overland journey to the South Pole. Those credentials made Arctic Trucks a natural choice for a partnership to convert and distribute Tembo e-LVs designed for mining and other ruggedised applications.

Kevin Chin, Executive Chairman and CEO of VivoPower, said: “We are extremely pleased to be partnering with Arctic Trucks to expand the distribution reach of our Tembo vehicles. Tembo e-LVs are engineered and built to enable decarbonisation through fleet electrification in some of the world’s harshest and most carbon-heavy industries. Arctic Trucks are no strangers to the challenges of engineering vehicles for ruggedised environments, and we look forward to working with them to help mining and other customers in the Nordic regions achieve net zero carbon goals previously thought impossible.”

Under the proposed agreement, it is intended that Arctic Trucks would commit to purchase the 800 kits from VivoPower as scheduled over the duration of the agreement, acquire an equal number of Land Cruisers or Hiluxes from Toyota, convert the vehicles to ruggedised e-LVs using the Tembo solutions, sell the units on, and be retained by customers for servicing and maintenance.

VivoPower and Arctic Trucks intend to finalise the proposed agreement as soon as practicable.

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

We’re excited to announce that we have once again passed our ISO9001 certification. This validation of our high standards proves how we take the quality of our work to the next level and how we’re committed to achieving these standards of excellence year after year. A certification audit covers all processes in the company, from providing information via quotation, to the satisfactory delivery of a vehicle. Our customers are our priority.

The annual audit demonstrates the setup of a process and the operation of that process. This includes holding workshops and providing quality design & development, sales, management, quality assessment, customer service, and workforce leadership.

The past year has been a story of transformation for our team, with our processes changing significantly. Yet we remain committed to improving our systems to the best of our ability. We are proud of this certification, and excited to prove to our customers, suppliers, and community that the Tembo brand is a brand they can trust.

VivoPower, an international provider of turnkey decarbonisation solutions to industry, today released a white paper entitled “Assessing Total Cost of Ownership of Electric Light Commercial Vehicles”, which provides a framework for owners of commercial light vehicle fleets to evaluate the total cost of ownership (TCO) of converting to a fleet of electric light commercial vehicles. 

The light commercial vehicle fleet segment is one of the largest and fastest growing in the fleet market, with most of those vehicles running on diesel fuel. Studies have shown that diesel vehicles have the greatest adverse effects on the environment per ton transported of any vehicle class. 

Through its wholly-owned subsidiary, Tembo e-LV B.V., VivoPower provides solutions for converting standard diesel-powered light vehicles to fully electric, zero emissions electric light vehicles or e-LVs. Tembo e-LVs are specially engineered for use in mining and other hard-to-decarbonise sectors, including construction and defence. Alongside solar generation, battery storage and on-site power distribution, Tembo e-LV products are a key component of VivoPower’s turnkey net zero solutions for corporate decarbonisation. 

VivoPower’s white paper examines the TCO involved in switching to a fleet of electrified light commercial vehicles. It also looks at key factors that business owners need to consider before converting. 

Importantly, the white paper is a living document that VivoPower will continually update as new data and technology become available. 

Matt Davis, Vivo Power’s Managing Director for Australia, said: “Overall, the economics of converting to an electrified light commercial vehicle fleet vary by business and use case. However, as technology continues to improve, battery prices continue to decline, and governmental policy increasingly incentivises electric vehicles, more and more fleet owners are likely to find that electrification is not just the best solution for the environment, but also for their bottom line.”  “Assessing Total Cost of Ownership of Electric Light Commercial Vehicles” is available for download in its entirety at https://vivopower.com/white-papers/.

Acquisition of residual 49% shareholding executed with planned capital injection into Tembo. 

Deal funded from cash reserves and the issuance of 15,793 VivoPower shares.

VivoPower International PLC (NASDAQ: VVPR) is pleased to announce that, following board approval, it has completed the definitive acquisition of the remaining 49% of Tembo e-LV B.V. (Tembo).

Tembo is a specialist electric battery and off-road vehicle company that focusses on designing and building ruggedised light electric vehicle solutions for customers across the globe in the mining, infrastructure, utilities, government services (including defence, police vehicles and ambulances), game safari, and humanitarian aid sectors.

VivoPower previously acquired 51% of Tembo in October 2020 and recently announced a landmark distribution deal with its partner, GB Auto Group (GB Auto), in Australia.

VivoPower intends to invest up to an additional US$10.9 million into Tembo, in a staged manner based on Tembo attaining quarterly commercial milestones. This will enable Tembo to accelerate the scaleup of its assembly, manufacturing, and distribution capabilities to fulfil customer orders and deliveries. Existing Tembo management received US$2.2 million and 15,793 VivoPower shares for their residual post-money shareholding, with VivoPower now owning 100% of Tembo’s share capital.

With the GB Auto partnership expected to generate up to US$250 million in revenues over the first four years when combined with the value of the converted Toyota vehicles, it is believed to be the most valuable deal of its kind in Australasia to date. GB Auto is now Australia’s exclusive distributor of the Tembo electric Toyota Land Cruiser, electric Toyota Hilux, and Tembo electric vehicle conversion kits. Tembo’s R&D pipeline also includes high- performance versions of its current vehicle solutions, with anticipated range improvements of up to 300%.

Kevin Chin, Executive Chairman and CEO of VivoPower, believes the full acquisition of Tembo will accelerate its growth and catalyse other deals similar to the GB Auto partnership.

He said: “Our intention has always been to move to 100% ownership of Tembo and the GB Auto deal has enabled this to occur at least two years ahead of plan. We are pleased to be able to fund this from existing cash reserves and the issuance of 15,793 VivoPower shares to Tembo’s management shareholders. We are now focussed on scaling up capabilities and executing at pace in order to meet strong customer interest and demand.”

Founded in the Netherlands, Tembo has grown its global sales and distribution channels across four continents, with current customers in Australia, Africa, Europe, and North America.

VivoPower has been providing renewable solar power services since the company was founded in 2014 and has been investigating entering the commercial electric vehicle (EV) market since 2017. The full acquisition of Tembo will also enable the company to expand its market for electric light vehicles (eLV) and sustainable energy solutions (SES) significantly beyond the Australian mining, infrastructure, commercial fleet, and government sectors.

With a new year on the horizon, we are pleased to announce that we have inked a new deal.

VivoPower and our 51% subsidiary, Tembo e-LV B.V. (Tembo), have entered into a non-binding Heads of Agreement with GB Auto Group Pty Limited and GB Electric Vehicles Pty Ltd (collectively, GB Auto), in which the New South Wales-based GB Auto will be the exclusive Australia-wide distributor of Tembo’s current core products. These include the Tembo 4×4 e-LV:

• electric Toyota Land Cruiser
• electric Toyota Hilux
• electric vehicle conversion kit.

Should Tembo offer any additional products for sale during the proposed seven-year agreement term, GB Auto will have first right of refusal for their distribution rights in Australia as well.

During the term, GB Auto has committed to purchasing at least:

• 500 conversion kits in the first year
• 2,000 total kits in the first four years, which includes the first-year commitment.

Combined with the electric vehicles, these orders would be worth an estimated USD$250 million in revenues.

Kevin Chin, our Executive Chairman and CEO said: “We are very pleased to be entering this partnership with GB Auto in Australia, given their long-established track record and reputation with their customers, who comprise some of the world’s pre-eminent mining houses.”

VivoPower will maintain and own all operating data in the Tembo products, granting GB Auto a licence to use the data to sell and service the vehicles. The company will also be GB Auto’s partner of choice for delivering sustainable energy solutions (SES), meaning we will have the right to sell, build, install, and maintain all products and services supporting Tembo e-LVs. This aligns with our three-pronged sustainable energy solutions (SES) strategy, and includes products and services related to:

• electric vehicle charging infrastructure
• battery storage
• microgrids

VivoPower will also be GB Auto’s preferred partner for any rental, lease, or other financing solutions for the Tembo products or above solutions.

Graeme Bensley, CEO and Founder of GB Auto said: “We believe SES to be ideally suited to the requirements of our mining sector customers. We are already witnessing strong demand from these customers for electric vehicles and are confident of the strong long-term growth outlook.”

Read the press release here.