VivoPower's Tembo Signs Definitive Distribution Agreement with the Kingdom of Saudi Arabia’s Green Watt Worth up to an Estimated US$85 Million over 5 Years
VivoPower International (Nasdaq: VVPR) has announced that its subsidiary, Tembo e-LV, has signed a Definitive Distribution Agreement with Saudi Arabian company Green Watt, valued at up to US$85 million. The agreement involves the sale and distribution of 1,600 Tembo electric utility vehicle (EUV) units across Saudi Arabia over the next five years.
Green Watt, established in 2016, specializes in renewable energy and environmental sustainability solutions. Their customer base includes major companies like Aramco, Halliburton, Saudi Electric Company, Honeywell, and Baker Hughes. The partnership aims to advance sustainable energy solutions in Saudi Arabia, targeting the significant market for electrifying ruggedized utility vehicles, particularly the Land Cruiser 70 series used in law enforcement, government agencies, and industrial sectors.
VivoPower International (Nasdaq: VVPR) ha annunciato che la sua controllata, Tembo e-LV, ha firmato un Accordo di Distribuzione Definitivo con l'azienda saudita Green Watt, del valore di fino a 85 milioni di dollari statunitensi. L'accordo prevede la vendita e distribuzione di 1.600 unità di veicoli elettrici utilitari (EUV) Tembo in Arabia Saudita nei prossimi cinque anni.
Green Watt, fondata nel 2016, si specializza in soluzioni di energia rinnovabile e sostenibilità ambientale. La loro clientela include grandi aziende come Aramco, Halliburton, Saudi Electric Company, Honeywell e Baker Hughes. La partnership mira a promuovere soluzioni energetiche sostenibili in Arabia Saudita, mirando al significativo mercato per l'elettrificazione dei veicoli utilitari robusti, in particolare la serie Land Cruiser 70 utilizzata nelle forze dell'ordine, nelle agenzie governative e nei settori industriali.
VivoPower International (Nasdaq: VVPR) ha anunciado que su subsidiaria, Tembo e-LV, ha firmado un Acuerdo de Distribución Definitivo con la empresa saudita Green Watt, valorado en hasta 85 millones de dólares estadounidenses. El acuerdo implica la venta y distribución de 1,600 unidades de vehículos utilitarios eléctricos (EUV) Tembo en Arabia Saudita durante los próximos cinco años.
Green Watt, establecida en 2016, se especializa en soluciones de energía renovable y sostenibilidad ambiental. Su base de clientes incluye grandes empresas como Aramco, Halliburton, Saudi Electric Company, Honeywell y Baker Hughes. La asociación tiene como objetivo avanzar en soluciones energéticas sostenibles en Arabia Saudita, apuntando al significativo mercado para la electrificación de vehículos utilitarios robustos, particularmente la serie Land Cruiser 70 utilizada en las fuerzas del orden, agencias gubernamentales y sectores industriales.
VivoPower International (Nasdaq: VVPR)는 자회사인 Tembo e-LV가 사우디 아라비아 회사 Green Watt와 최대 8,500만 달러 규모의 최종 유통 계약을 체결했다고 발표했습니다. 이 계약은 향후 5년 동안 사우디 아라비아 전역에 1,600대의 Tembo 전기 유틸리티 차량(EUV)을 판매 및 유통하는 내용을 포함합니다.
2016년에 설립된 Green Watt는 재생 가능 에너지 및 환경 지속 가능성 솔루션을 전문으로 합니다. 그들의 고객 기반에는 Aramco, Halliburton, Saudi Electric Company, Honeywell 및 Baker Hughes와 같은 대기업이 포함됩니다. 이 파트너십은 사우디 아라비아에서 지속 가능한 에너지 솔루션을 발전시키는 것을 목표로 하며, 법 집행, 정부 기관 및 산업 부문에서 사용되는 Land Cruiser 70 시리즈와 같은 견고한 유틸리티 차량의 전기화 시장을 겨냥하고 있습니다.
VivoPower International (Nasdaq: VVPR) a annoncé que sa filiale, Tembo e-LV, a signé un Accord de Distribution Définitif avec l'entreprise saoudienne Green Watt, d'une valeur allant jusqu'à 85 millions de dollars américains. L'accord concerne la vente et la distribution de 1 600 unités de véhicules utilitaires électriques (EUV) Tembo en Arabie Saoudite au cours des cinq prochaines années.
Green Watt, fondée en 2016, se spécialise dans les solutions d'énergie renouvelable et de durabilité environnementale. Leur clientèle comprend de grandes entreprises comme Aramco, Halliburton, Saudi Electric Company, Honeywell et Baker Hughes. Le partenariat vise à promouvoir des solutions énergétiques durables en Arabie Saoudite, en ciblant le marché important de l'électrification des véhicules utilitaires robustes, en particulier la série Land Cruiser 70 utilisée dans les forces de l'ordre, les agences gouvernementales et les secteurs industriels.
VivoPower International (Nasdaq: VVPR) hat angekündigt, dass ihre Tochtergesellschaft Tembo e-LV einen endgültigen Vertriebsvertrag mit dem saudi-arabischen Unternehmen Green Watt unterzeichnet hat, der einen Wert von bis zu 85 Millionen US-Dollar hat. Der Vertrag umfasst den Verkauf und die Verteilung von 1.600 Tembo Elektro-Nutzfahrzeugen (EUV) in Saudi-Arabien über die nächsten fünf Jahre.
Green Watt, 2016 gegründet, spezialisiert sich auf Lösungen für erneuerbare Energien und Umweltverträglichkeit. Zu ihrem Kundenstamm gehören große Unternehmen wie Aramco, Halliburton, Saudi Electric Company, Honeywell und Baker Hughes. Die Partnerschaft zielt darauf ab, nachhaltige Energielösungen in Saudi-Arabien voranzutreiben, wobei der bedeutende Markt für die Elektrifizierung robuster Nutzfahrzeuge, insbesondere der Land Cruiser 70-Serie, die in der Strafverfolgung, bei Regierungsbehörden und im Industriesektor eingesetzt wird, im Fokus steht.
- Significant contract value of up to US$85 million over 5 years
- Entry into Saudi Arabian market with established partner serving major clients like Aramco
- Access to large addressable market in law enforcement, government, and industrial sectors
- Strategic alignment with Saudi Arabia's carbon reduction initiatives
- Revenue realization dependent on actual sales performance over 5-year period
- Success relies on adoption rate of EV conversion in traditional vehicle-heavy sectors
Insights
This distribution agreement represents a potentially transformative development for VivoPower, with the
The agreement to distribute 1,600 Tembo electric utility vehicles in Saudi Arabia through Green Watt opens a significant new market for VivoPower's subsidiary. What's particularly notable is Green Watt's established relationships with heavyweight clients including Aramco (the world's largest oil company), Halliburton, Saudi Electric Company, and other major industrial players.
This partnership creates a strategic entry point into the Saudi Arabian market, where the government has committed substantial resources to sustainability initiatives and decarbonization efforts. The widespread use of ruggedized utility vehicles in the region across law enforcement, government agencies, and industrial sectors presents a substantial addressable market.
While investors should note the agreement represents potential rather than guaranteed revenue (approximately
Agreement with Green Watt represents Tembo’s first deal in fast growing Saudi Arabian market
Green Watt has signed agreement with Tembo to sell and distribute 1,600 Tembo EUV units in the Kingdom of Saudi Arabia (KSA) up to 2030
Green Watt’s customer base includes Aramco, the world’s largest oil company, Halliburton, Honeywell, Baker Hughes and the Saudi Electric Company
LONDON, April 11, 2025 (GLOBE NEWSWIRE) -- VivoPower International PLC (Nasdaq: VVPR) (“VivoPower” or the “Company”) announced today that its subsidiary, Tembo e-LV (“Tembo”), has signed a Definitive Distribution Agreement (“Agreement”) worth up to an estimated US
Green Watt is a KSA-based company established in 2016 and specializes in the areas of renewable energy, energy conservation, and environmental sustainability. With strong emphasis on environmental protection, quality and transparency, Green Watt assists its clients to achieve their financial and environmental objectives. By implementing energy conservation measures (ECMs), Green Watt ensures reduced power consumption, reduced cost and carbon footprint. In addition to that, Green Watt provides solutions ranging from stand-alone PV systems to complex hybrid applications. Customers of Green Watt include Aramco, Halliburton, the Saudi Electric Company, Honeywell, Baker Hughes, JAL International, and Al Mansoori, among others.
The strategic distribution agreement between VivoPower and Green Watt reflects both companies' shared commitment to advancing sustainable energy solutions in the Kingdom of Saudi Arabia.
Saudi Arabia presents an opportunity for corporate partnerships in sustainable energy solutions, driven by strong government support and ambitious carbon reduction targets aligned with global sustainability goals. The widespread use of ruggedized utility vehicles, such as the Land Cruiser 70 series, by law enforcement and government agencies, as well as the mining, oil and gas and other industrial sectors means there is a significant addressable market for electrification.
With numerous agencies and corporates operating under vehicle lease structures, converting used Land Cruisers to electric and re-leasing them offers a practical, cost-effective pathway to electrification. This model not only lowers operational costs but also supports the KSA’s transition to a greener economy.
Nazir Muhammad, CEO of Green Watt, said: “At Green Watt, we believe in electrifying the future of mobility, not just in words but in action. Our partnership with Tembo marks a decisive step towards cleaner, smarter transportation solutions across emerging markets. Together, we’re not only reducing emissions but also empowering communities with sustainable technologies that work for people and the planet.”
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. By joining forces, we’re accelerating the deployment of Tembo’s electrification technology in a country committed to decarbonisation, where it can make a transformative difference.”
About VivoPower
Established in 2014 and listed on Nasdaq since 2016, VivoPower is an award-winning global sustainable energy solutions B Corporation company focussed on electric solutions for off-road and on-road customised and ruggedised fleet applications as well as ancillary financing, charging, battery and microgrids solutions. VivoPower’s core purpose is to provide its customers with turnkey decarbonisation solutions that enable them to move toward net-zero carbon status. VivoPower has operations and personnel covering Australia, Canada, the Netherlands, the United Kingdom, the United States, the Philippines, and the United Arab Emirates.
About Tembo
Tembo electric utility vehicles (EUVs) are a
About Green Watt
Established in 2016, Green Watt is led by a team with over 25 years of experience in the energy sector. The company specializes in the areas of renewable energy, energy conservation, and environmental sustainability.
With a strong emphasis on environmental protection, quality, and transparency, Green Watt assists clients in achieving their financial and environmental objectives. By implementing energy conservation measures (ECMs) the company ensures reduced power consumption, reduced cost, and carbon footprint. In addition to that, Green Watt provides solutions ranging from stand-alone PV systems to complex hybrid applications.
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FAQ
What is the value and duration of VivoPower's (VVPR) distribution agreement with Green Watt?
Who are the major customers of Green Watt in Saudi Arabia that could benefit from VVPR's Tembo EVs?
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How does the Tembo EUV distribution align with Saudi Arabia's environmental goals?
