Benzinga | Sep 14, 2021 12:31PM EDT

VivoPower Signs Agreement With GHH Group GmbH For GGHH To Distribute Tembo Powered Electric Light Vehicles

VivoPower International PLC (NASDAQ:VVPR, the &quot, Company&quot, ))))) is pleased to announce that the Company has signed a definitive agreement with GHH Group GmbH ("GHH" or the "Distributor") for GHH to distribute Tembo powered electric light vehicles ("e-LVs") in over 50 countries across Africa, Asia, Europe and the Americas, using e-LV conversion kits from VivoPower's wholly-owned subsidiary Tembo e-LV B.V. ("Tembo").

Under the agreement (the "Distribution Agreement"), GHH intends to purchase 3,000 Tembo e-LV conversion kits through to December 2026. GHH will be responsible for acquiring original vehicles from Toyota, converting the vehicles to ruggedized e-LVs using the Tembo conversion kits, selling the Tembo powered e-LVs to end-customers and providing ongoing servicing and maintenance.

This Distribution Agreement marks VivoPower's fifth major distribution deal in 2021 for Tembo e-LV conversion kits, and its largest to date by e-LV kit volumes. With the execution of this contract, VivoPower can now offer Tembo powered e-LVs to customers on six continents as the Company continues to advance its aim to build a global Tembo distribution network before the end of this calendar year. The Company previously executed distribution agreements with GB Auto Group in Australia, Acces Industriel Mining Inc. in Canada, and Bodiz International in Mongolia, in addition to announcing a non-binding Heads of Terms with Arctic Trucks Limited for distribution of Tembo e-LVs in Norway, Sweden, Iceland and Finland.

Based in Germany, GHH has over 50 years of experience in the production of robust and safe vehicles for mining and tunnelling in hard and soft rock. Drawing on exclusive technology partnerships with several major industry leaders throughout the world, GHH offers the latest in cutting-edge innovation and product development to the underground mining market. Through collaboration with both clients and international partners, GHH engineers comprehensive, tailor-made solutions with their constantly expanding suite of mechanized mining equipment and a full range of well-established support services. That expertise makes GHH a natural partner to distribute Tembo e-LVs for miners seeking bespoke, comprehensive sustainable energy solutions.

The Tembo kits transform diesel-powered Toyota Land Cruiser and Hilux vehicles into ruggedized e-LVs for use in mining and other hard-to-decarbonize sectors, including construction and defense. Alongside solar generation, battery storage and on-site power distribution, Tembo e-LV products are a key component of VivoPower's turnkey sustainable energy solutions which help corporates achieve their decarbonization goals.