VivoPower’s Tembo signs distribution agreement worth estimated $85M over 5 years

VivoPower (VVPR) International announced that its subsidiary, Tembo e-LV, has signed a Definitive Distribution Agreement worth up to an estimated $85M with Saudi Arabian energy and environmental solutions provider Green Watt to sell and distribute 1,600 Tembo electric utility vehicle units across the Kingdom of Saudi Arabia over the next five years. Matthew Nestor, Director, Head of Global Partnerships at VivoPower, said: “This partnership with Green Watt is a strategic milestone in our mission to deliver turnkey sustainable energy solutions to the Kingdom of Saudi Arabia. Nazir and the Green Watt team share our commitment to decarbonizing transport in a commercially viable and socially impactful way.”