Core Points - VivoPower International PLC's electric vehicle subsidiary, Tembo e-LV B.V., has extended its exclusive heads of agreement with Cactus Acquisition Corporation I to August 31, 2024, to facilitate a material transaction and update disclosures [1][2] Company Overview - VivoPower is a global sustainable energy solutions B Corporation focused on electric solutions for customized fleet applications, including off-road and on-road vehicles, as well as financing, charging, battery, and microgrid solutions [3] - The company's mission is to provide turnkey decarbonization solutions to help customers achieve net-zero carbon status, with operations in multiple countries including Australia, Canada, the Netherlands, the UK, the US, the Philippines, and the UAE [3] Tembo Overview - Tembo specializes in electric utility vehicles (EUVs) designed for rugged and customized applications across various industries such as mining, agriculture, and defense [4] - The company aims to provide safe and reliable electrification solutions for utility vehicle fleet owners, focusing on extending vehicle life, reducing costs, maximizing asset returns, and meeting ESG goals [4]
(UPDATED) VIVOPOWER'S TEMBO EXTENDS HEADS OF AGREEMENT EXCLUSIVITY FOR US$838M MERGER WITH CCTS