Home Top Movers VivoPower International Inc. (VVPR) stock soars during pre-market trading. What’s driving it...

VivoPower International Inc. (VVPR) stock soars during pre-market trading. What’s driving it high?

VivoPower International Inc. (NASDAQ: VVPR) stock gained by 1.13% at last close while the VVPR stock price surged during pre-market trading by 1.54%. VivoPower is a sustainable energy services company that specializes in battery storage, electric solutions for tailored and ruggedized fleet applications, solar, and essential power technologies and services.

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What is happening?

Acces Industrial Mining which is a Canadian industrial equipment distributor has inked a final deal with VivoPower International to market electric light vehicles in Canada, utilizing e-LV conversion kits from VivoPower’s fully owned subsidiary Tembo e-LV B.V.


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Acces plans to buy 1,675 Tembo e-LV conversion packs in the timeframe between now and December 2026 following the terms of the deal. VVPR expects the net value of these contracts to be US$120 million over the next five and a half years, with a delivery schedule skewing toward the end of the Distribution Agreement period. Acces will be in charge of purchasing original Toyota cars, turning them to ruggedized e-LVs utilizing Tembo technologies, selling the units to end-users, and providing continuing service and maintenance.

Tembo kits convert diesel-powered Toyota LandCruiser and Hilux vehicles into ruggedized electric vehicles for use in mining and other difficult-to-decarbonize industries such as construction and defense. Tembo e-LV devices are a significant component of VivoPower’s complete net-zero solutions for corporate decarbonization, including solar generating, battery storage, and on-site power transmission.

Furthermore,

The Distribution Deal comes after GB Auto Group Pty Limited and GB Electric Vehicles Pty Ltd signed a distribution agreement in January. VVPR has stated that it intends to establish a global Tembo distribution network by the end of the year, and talks with other distributors are continuing in Europe, Africa, the Middle East, the Americas, and Asia.

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Acces was chosen as VivoPower’s Canadian distribution partner because of Acces’s long-standing experience supplying, customizing, and servicing Toyota LandCruisers, as well as its active relationships with large numbers of mining companies, making Acces a leading supplier of modular vehicle solutions to Canada’s mining sector.

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