Evolution unveils new fleet electrification partnership with VivoPower’s Tembo unit for its light utility vehicle fleet

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BRISBANE, November 14, 2022 (GLOBE NEWSWIRE) - VivoPower International PLC (NASDAQ: VVPR, the "Company") is pleased to announce that the Company and its wholly-owned subsidiary, Tembo EV Australia Pty Ltd ("Tembo Australia"), has entered into a Supply Agreement with the #evolutiongroupholdings Limited ("EGH", "Evolution") for the full electrification of its fleet of light utility vehicles for traffic management and fleet management. Under the definitive agreement, Tembo Australia will convert existing and new vehicles to full electric over the next 5 years, subject to the successful completion of commercial and technical on-road trials, with a target to have the first fully electrified utility vehicle certified and roadworthy in 2023.

Kerry Daly, Non Executive Chairman of Evolution, said "Evolution is constantly evaluating opportunities to offer innovative and competitive solutions to its clients and to the industry as a whole. We have one of the largest fleet of vehicles for traffic management services across Australia and New Zealand and being the first to commit fully to electrification of our vehicles will help to set new eco-friendly standards for the industry. After a review of proposals and capabilities of different electric vehicle conversion companies, the independent board members of Evolution have selected Tembo on the basis of their global experience, capability to deliver, training and change management credentials as well as the broader #VivoPower sustainable energy solutions offering."

Evolution will be the first traffic management company in the world to commit to fleet electrification and repowering, which is in keeping with its objective to deliver cost-effective, sustainable and environment-friendly solutions for clients from both the private and public sectors in Australia and New Zealand.

Gary Challinor, Chief Operating Officer of #VivoPower, said "We are delighted to have been selected for this important agreement and #partnership to repower Evolution's fleet of light utility vehicles for traffic control and fleet management. It is a first for the repowering of an existing fleet in Australia and New Zealand and also a first for the traffic management sector. We are looking forward to working closely with Evolution, not only to provide conversion EV powertrain kits, ruggedization and customization, but also importantly to deliver training and change management, as well as complimentary sustainable energy solutions". Sharing some company expansion plans on the occasion, he added "Tembo is currently evaluating options and in discussions with financiers for establishing assembly facilities in Australia and is considering South East Queensland as a preferred location."

About VivoPower

VivoPower is an award-winning global sustainable energy solutions B Corporation company focused on electric solutions for customised and ruggedised fleet applications, battery and microgrids, solar and critical power technology and services. The Company's core purpose is to provide its customers with turnkey decarbonisation solutions that enable them to move toward net-zero carbon status. #VivoPower is a certified B Corporation with operations and personnel in Australia, Canada, the Netherlands, the United Kingdom, the United States, the Philippines and the United Arab Emirates.

About Evolution Group Holdings

Founded in 2004 and headquartered in Brisbane, Australia, #evolutiongroupholdings Limited (EGH) is one of the largest non-government providers of road infrastructure services across Australia and New Zealand, including traffic planning, traffic control, traffic management, training, equipment hire, fleet maintenance and management, and road corridor civil & bridge maintenance. The company has an extensive specialised fleet of over 500 vehicles for its traffic management and fleet management services and has an employee base of over 700 personnel across Australia, New Zealand and the Philippines.