Energi will acquire 51% of Tembo, with VivoPower retaining a significant share post-SPAC merger. The equity valuation for Tembo is $200 million, allowing them to proceed with filing the F-4 SPAC Registration Statement. VivoPower is transitioning to become the world’s first XRP-focused digital asset enterprise, with a global presence in sustainable energy solutions. Tembo, a subsidiary of VivoPower, specializes in ruggedized light electric vehicle solutions for various industrial sectors. The investment by Energi is subject to the completion of Tembo’s business combination with CCTSF. VivoPower will continue to hold a substantial stake in Tembo after the merger.

Read more at GlobeNewswire: VivoPower’s Tembo e-LV Subsidiary on Track for $200 Million