$120M Pre-Money Valuation Announced By Major Energy Company
VIVOPOWER Announces Follow-On Strategic Direct Investment in TEMBO at a Whopping US$120M Pre-Money Valuation.
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In a move that is set to significantly impact the energy sector, VIVOPOWER International PLC has announced a follow-on strategic direct investment in TEMBO 4x4 e-LV B.V. The investment, which comes at a pre-money valuation of US$120 million, underscores the growing interest in sustainable energy solutions and the potential of companies like TEMBO to lead the charge.
VIVOPOWER International PLC, an international battery technology, electric vehicle, solar, and critical power services company, has been at the forefront of championing sustainable energy solutions. This most recent investment highlights their strategic focus on expanding their reach in the electric vehicle market.
The investment in TEMBO, a Dutch company specializing in the design, production, and distribution of commercial electric vehicles, represents a significant endorsement of TEMBO's business model and future growth potential. Kevin Chin, CEO and Executive Chairman of VIVOPOWER, expressed his excitement about the investment, stating, "Our additional investment in TEMBO reflects our confidence in their ability to become a global leader in the commercial electric vehicle space" source.
Implications for the Energy Sector
The investment in TEMBO is indicative of a broader trend in the energy sector - a shift towards more sustainable and environmentally friendly solutions. As governments and businesses increasingly prioritize reducing carbon emissions, companies like TEMBO, which offer innovative and effective solutions, are attracting significant interest and investment.
It's also worth noting that this investment comes amid a surge in demand for electric vehicles. According to a report by Fortune Business Insights, the global electric vehicle market size was USD 250.13 billion in 2020 and is projected to reach USD 1,040.30 billion by 2028 source.
A Win-Win Partnership
The partnership between VIVOPOWER and TEMBO is a win-win situation for both companies. For VIVOPOWER, it represents an opportunity to expand its footprint in the electric vehicle market and align itself with a company that shares its commitment to sustainability.
For TEMBO, the investment will enable it to scale its operations and reach a larger market. Frank Daams, founder and CEO of TEMBO, expressed his delight at the investment, stating, "This additional investment from VIVOPOWER will allow us to accelerate our growth and continue to drive the adoption of electric vehicles in the commercial sector" source.
In Conclusion
This strategic direct investment from VIVOPOWER in TEMBO is more than just a business transaction. It's a statement of intent, a sign of the times, and a testament to the potential of sustainable energy solutions. As we move towards a greener future, it's clear that companies like VIVOPOWER and TEMBO will be leading the charge.
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