VivoPower is pleased to announce that the Company and its wholly-owned subsidiary, Tembo e-LV, have entered into a Memorandum of Understanding with leading Indonesian mining solutions provider Petrosea to sell, distribute, and market Tembo electrification conversion for Toyota 4×4 vehicles and/or 4×4 Toyota vehicles which have been fully electrified by Tembo.
Under the proposed agreement, Petrosea would commit to selling 2,000 Tembo e-LV conversion kits through December 2027. The Proposed Agreement must be finalised prior to April 30, 2023, 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 hard-to-decarbonise sectors. 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.
Petrosea is a multi-disciplinary contract mining, engineering, procurement & construction, and oil & gas services company that is fully committed to prioritise ESG as a continuation of the company’s sustainability strategy. Petrosea offers complete pit-to-port mining solutions, integrated engineering, procurement, and construction capabilities as well as logistic support, whilst demonstrating absolute commitment to safety, health & environment, quality management, and business integrity.
VivoPower and Petrosea intend to finalise the Proposed Agreement as soon as practicable.
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