April 2024

VivoPower Announces Further Strategic Direct Investment in Tembo from Emirati Investment Office

Investment commitment secured from private investment office backed by member of ruling Al Maktoum family of Dubai

Initial US$7.5m investment milestones previously met as part of US$10 million commitment

Tembo has now met milestones to qualify for the final follow-on investment of US$2.5 million, for an aggregate total investment of US$10 million

VivoPower Digital Asset Strategic Direct Investment 3

VivoPower is pleased to announce that its subsidiary, Tembo e-LV, has now met all the milestones to obtain the final follow-on strategic direct equity investment into Tembo, at a pre-money valuation of US$120 million.

This is pursuant to a commitment received in June 2023 from a UAE-based private investment office backed by a member of the ruling Al Maktoum family of Dubai. The investor, under the agreement terms, can exercise the option to increase its cumulative investment in subsequent closings, up to US$10 million based on milestones which have now all been met.

VivoPower will continue to retain its majority stake in Tembo. Tembo recently announced a binding heads of agreement to execute a business combination agreement with CCTS, a NASDAQ listed SPAC at an indicative pre money equity valuation of US$838m.

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


Shareholder Enquiries

[email protected]

Read More

April 2024

VivoPower Announces Binding Heads of Agreement to Merge Tembo into NASDAQ-listed CCTS at an Indicative US$838M Equity Value

March 2024

Green Antz, backed by Arowana Impact Capital, sets another record-breaking year in plastic recycling

January 2024

EdventureCo Debuts On Real Leaders Top Impact Companies For 2024

January 2024

VivoPower Recognised as One of Real Leaders Top Impact Companies for 2024

January 2024

Arowana recognised for 5th consecutive year in Real Leaders’ Top Impact Companies 2024

October 2023

Lumify Group Expands its Portfolio by Acquiring City Desktop Training

1 2 3 23