VivoPower's Tembo e-LV to Receive $200 Million Investment from Energi Holdings via SPAC Transaction

VivoPower's Tembo e-LV subsidiary is set to receive a $200 million investment from Energi Holdings through a SPAC transaction. Energi will acquire a 51% stake in Tembo, with VivoPower retaining a significant shareholding. The investment is based on a total enterprise valuation of $200 million and is subject to the completion of Tembo's business combination with Cactus Acquisition Corp 1 Limited. VivoPower is also recruiting a dedicated board of directors for Tembo.

VivoPower International PLC (NASDAQ: VVPR), a Nasdaq-listed solar power company, has announced that its subsidiary, Tembo e-LV B.V., will receive a $200 million investment from Energi Holdings Limited. The investment, which will be facilitated through a strategic PIPE (Private Investment in Public Equity) transaction, will see Energi acquire a 51% stake in Tembo, with VivoPower retaining a significant shareholding in the subsidiary [2].

The investment is based on a total enterprise valuation of $200 million, and the equity purchase price for the 51% stake will be derived from this valuation, adjusted for Tembo's net debt and other customary adjustments at the time of closing. The transaction is subject to the completion of Tembo's previously announced business combination with Cactus Acquisition Corp 1 Limited (CCTSF), a special purpose acquisition company (SPAC) [2].

The immediate priority for Tembo is to resume finalizing and filing its F-4 SPAC Registration Statement, which will subsequently be reviewed by the Securities and Exchange Commission. The company has also commenced recruitment of a dedicated board of directors for Tembo in preparation for its listing as a public company [2].

VivoPower's strategic transformation into the world's first XRP-focused digital asset enterprise is driving this investment. The company's new direction centers on the acquisition, management, and long-term holding of Ripple Lab shares and XRP digital assets as part of a diversified digital treasury strategy. This move aims to contribute to the growth and utility of the XRP Ledger (XRPL) by supporting decentralized finance (DeFi) infrastructure and real-world blockchain applications [2].

The investment from Energi and the business combination with CCTSF are subject to customary closing conditions and regulatory approvals. There can be no assurance as to when or if these transactions will be completed. VivoPower does not intend to make any further announcements regarding this proposal unless and until it determines that further disclosure is appropriate or required [2].

References:
[1] https://www.globenewswire.com/news-release/2025/08/18/3135007/0/en/VivoPower-s-Tembo-e-LV-Subsidiary-on-Track-for-200-Million-Enterprise-Value-Investment-from-Energi-Holdings-via-SPAC-Transaction.html
[2] https://www.ainvest.com/news/xrp-news-today-vivopower-buy-ripple-xrp-100m-move-aims-cut-xrp-cost-86-2508/