VivoPower International PLC (VVPR): Business Model Canvas [Dec-2025 Updated]

You're trying to make sense of VivoPower International PLC, a company that seems to be simultaneously building rugged electric utility vehicles, deploying microgrids, and dabbling in digital assets-it's a lot to track. Honestly, this model pivots on delivering turnkey decarbonization solutions, but the near-term financials show a company in a heavy investment phase: total annual revenue for FY2025 was only $61.00K, with EV sales contributing $53.00k of that, while they manage SG&A expenses of $8.23 million. Still, they have a $19.3 million net current asset position as of June 30, 2025, which is key to funding their ambitious plans, including the Tembo EV distribution with AVA and their digital asset reserve with KWeather. Below, we break down the nine essential blocks of this strategy, showing you exactly where the risks and opportunities lie in this unique energy-plus-crypto play.

VivoPower International PLC (VVPR) - Canvas Business Model: Key Partnerships

You're mapping out the strategic alliances VivoPower International PLC has locked in as of late 2025, focusing on how these partnerships fuel the Tembo EV rollout and the broader digital asset strategy. These aren't just handshake deals; they involve concrete financial commitments and market access.

The Key Partnerships block of the Business Model Canvas is dense with activity, particularly around the Tembo subsidiary and the company's pivot to an XRP-focused enterprise. Here's a breakdown of the most critical relationships driving near-term value.

Strategic Alliances and Financial Backing

VivoPower International PLC has structured several high-impact partnerships that cover everything from vehicle distribution in massive emerging markets to securing a digital asset treasury base. The financial figures attached to these deals show serious intent.

The cornerstone of the EV expansion in Africa is the agreement with Associated Vehicle Assemblers Ltd. (AVA). AVA is East Africa's largest vehicle assembler, and this binding definitive agreement covers the distribution, local assembly, and servicing of Tembo's 100% electric utility vehicles (EUVs) across Kenya, Tanzania, and other East African nations. This immediately unlocks access to a market of over 500 million people. To give you a sense of scale, AVA currently assembles vehicles for major OEMs like Toyota and Volvo, and has an assembly capacity of 30,000 vehicles per annum. The targeted rollout under an earlier agreement aimed for 200 vehicle conversions in the first year and 1,600 over five years. This local presence is defintely key for reliable support.

On the financial structuring front, the strategic investment from Energi Holdings Limited is pivotal for Tembo's path to a public listing. Energi will secure a 51% shareholding in Tembo via a strategic Private Investment in Public Equity (PIPE) deal. This investment is based on a total enterprise valuation for 100% of Tembo set at $200 million. This valuation confirmation allowed Tembo to resume its planned business combination with the SPAC, Cactus Acquisition Corp 1 Limited (CCTSF), which values Tembo at $838 million in equity value within that merger structure. VivoPower International PLC retains a significant shareholding post-merger, but the immediate cash injection and valuation anchor are what matter for the next steps.

The company's digital transformation is cemented by its relationship with Ripple Labs. Tembo e-LV is now accepting payments in Ripple USD (RLUSD) stablecoin. This is more than a payment option; it supports VivoPower's strategy to become the world's first XRP-focused digital asset enterprise. RLUSD is pegged 1:1 to the U.S. dollar and is fully backed by USD deposits and short-term U.S. Treasuries, offering capital stability. Adoption is accelerating; RLUSD's market capitalization has surged more than 10-fold since the start of calendar year 2025.

Finally, the international expansion of the digital asset treasury strategy involves KWeather Co., Ltd., a KOSDAQ-listed company in South Korea. VivoPower, through its Vivo Federation division, signed a non-binding heads of agreement to invest US$5 million in exchange for a ~20% stake in KWeather. KWeather, which holds about 90% market share in South Korean weather data, plans to use these funds to build its own XRP-focused digital asset reserve. This partnership also includes launching the world's first WeatherCoin token.

Here's a quick look at the core financial and operational metrics tied to these key partners:

These relationships are designed to de-risk market entry and provide immediate financial scaffolding for growth initiatives. You can see the dual focus clearly:

• Secure majority control of Tembo via the $200 million enterprise value deal with Energi.
• Establish immediate payment rails for global EV sales using RLUSD, which has seen 10x market cap growth in 2025.
• Expand the digital asset treasury strategy internationally with the US$5 million investment in KWeather.
• Gain immediate, certified local assembly and distribution capacity in East Africa through AVA.

Finance: draft 13-week cash view by Friday.

VivoPower International PLC (VVPR) - Canvas Business Model: Key Activities

You're looking at the core engine of VivoPower International PLC as of late 2025, which is a fascinating mix of heavy-duty electrification and cutting-edge digital finance. The key activities show a company actively executing on two distinct, yet potentially synergistic, strategic pivots.

Design and assembly of Tembo electric utility vehicle (EUV) conversion kits

The design and assembly of the Tembo EUV conversion kits is a central physical activity, transforming existing diesel 4x4 platforms into ruggedized electric utility vehicles. This activity is underpinned by significant enterprise value recognition for the subsidiary, Tembo e-LV B.V. Specifically, Energi Holdings Limited agreed to secure a 51% shareholding in Tembo via a strategic PIPE investment at a total enterprise valuation of $200 million. This validates the core technology you're focused on building.

The activity translates directly into sales agreements, showing tangible progress in market penetration:

• Definitive Distribution Agreement signed with Green Watt in Saudi Arabia for up to 1,600 units over 5 years, valued up to an estimated $85 million.
• Definitive agreement with Access Industrial Mining Inc. in Canada for 1,675 kits over 5 years, with initial deliveries commencing to this exclusive distributor.
• Secured an inaugural order from The Safari Collection in Kenya.

The first delivery of kit components for the Canadian partner has already been made, marking the start of fulfilling that multi-year commitment. Honestly, seeing those initial deliveries start is a critical milestone for this segment.

Development and deployment of turnkey microgrid installations

VivoPower International PLC's Infrastructure division is focused on the financing, construction, ownership, and operation of clean energy projects, which includes these turnkey microgrid installations, often integrating solar and battery storage. While specific project counts for VivoPower aren't detailed here, you can benchmark the activity against the broader market context for late 2025. The global microgrid market size is estimated to be worth $42.6 billion in 2025. In the U.S. alone, the market size is projected to reach $17.07 billion in 2025, with a compound annual growth rate (CAGR) forecast of 18.2% through 2030. This suggests the environment for deploying these systems is definitely expanding.

Management of the Vivo Federation digital asset treasury and DeFi solutions

This is the most aggressively funded and strategically emphasized activity right now. VivoPower International PLC is positioning itself as one of the first publicly listed companies executing an XRP-focused digital asset treasury and decentralized finance (DeFi) strategy. The capital raised directly fuels this:

The company closed an equity raising of approximately $19 million in October 2025, with shares priced at $6.05 per share. This funding supplements a previously announced Regulation S offering led by Prince Abdulaziz bin Turki bin Talal Al Saud. The stated purpose is to buy and hold XRP, build out the DeFi team, and reduce debt. Furthermore, management has announced plans to procure an underlying $100 million worth of privately held Ripple Labs shares. This is part of a larger roadmap, including a $30 million partnership with Doppler Finance, which is the first phase of a planned $200 million XRP allocation.

Here's a quick look at the financial context surrounding this pivot, based on the fiscal year ended June 30, 2025:

Despite the high-level strategic focus, the company's overall financial health score is reported at a weak 1.16 out of 5, though they report impressive gross profit margins of nearly 75%.

Project financing and ongoing operations/maintenance (O&M) services

For the clean energy projects, which include the microgrids, VivoPower International PLC integrates project financing with ongoing operations and maintenance (O&M) services. This structure is designed to deliver long-term, predictable returns for stakeholders. The company's global footprint spans the United Kingdom, Australia, North America, Europe, the Middle East, and Southeast Asia, indicating a wide operational base for securing and servicing these O&M contracts. The financing activity is also evident in the recent capital raises, such as the $19 million equity raise in October 2025, which was partially earmarked for debt reduction alongside the digital asset strategy expansion.

VivoPower International PLC (VVPR) - Canvas Business Model: Key Resources

You're looking at the core assets VivoPower International PLC is relying on to execute its strategy as of late 2025. These aren't just line items on a balance sheet; they are the engines driving their dual focus on sustainable energy and digital assets.

Tembo e-LV Intellectual Property (IP) for Ruggedized EV Conversions

The intellectual property around the Tembo e-LV platform is central to the vehicle electrification segment. This IP covers the design and delivery of ruggedized light electric vehicle solutions specifically for demanding fleet owners. Think mining, agriculture, and utility sectors.

• - Tembo e-LV subsidiary targeted for a public listing via SPAC.
• - Proposed SPAC transaction valued Tembo at $838 million in equity value.
• - Agreement with Energi Holdings valued the Tembo enterprise at $200 million for a 51% stake.
• - Secured a joint venture agreement for e-jeepney electrification kits in the Philippines.

The IP is the foundation for their Tembo-branded products, like the EUV, PUV conversion kits, and the Tembo EVP lineup, such as the Tembo Tusker pickup.

B Corporation Status and Global Footprint Across North America and APAC

Maintaining the B Corporation certification signals a commitment to the triple bottom line of people, profit, and planet, which can be a key differentiator for attracting certain customers and investors. Honestly, being one of the few in their industry with this designation helps their profile.

The global footprint provides market access for both the Tembo products and the infrastructure division.

Net Current Asset Position of $19.3 million as of June 30, 2025

This figure tells you about the near-term liquidity position right after the fiscal year end. A net current asset position of $19.3 million means that, on paper at that date, current assets exceeded current liabilities. Still, you must track the auditor's note regarding material uncertainty related to going concern if future funding isn't secured.

Here's the quick math on recent financial performance leading up to that date:

• - Fiscal Year 2025 Loss: $12.8 million.
• - Fiscal Year 2025 Revenue: $0.061 million (or $61.00K).
• - Pro Forma Stockholders' Equity (May 31, 2025): Approx. $20.0 million (post-first phase of private placement).

Lithium-ion Battery Systems and Integrated Charging Network Technology

The Infrastructure division holds the tangible assets related to energy deployment. This includes the technology underpinning their EV charging solutions and hybrid power systems.

This division is focused on the financing, construction, ownership, and operation of these clean energy assets. They deliver turnkey microgrid installations and EV charging stations for both public and private settings. Plus, they recently announced a strategic move into digital assets, including an initial US$5 million XRP focused Digital Asset Reserve project in South Korea, which leverages their technology and treasury strategy.

Finance: draft 13-week cash view by Friday.

VivoPower International PLC (VVPR) - Canvas Business Model: Value Propositions

You're looking at the core reasons customers choose VivoPower International PLC, focusing on tangible deliverables and financial advantages as of late 2025.

Turnkey decarbonization solutions for corporate fleets and infrastructure

VivoPower International PLC provides its customers with turnkey decarbonisation solutions designed to move them toward net-zero carbon status. This is supported by operations across Australia, Canada, the Netherlands, the United Kingdom, the United States, the Philippines, and the United Arab Emirates. The company's Infrastructure division delivers integrated offerings:

• Financing, construction, ownership, and operation of clean energy projects.
• Turnkey microgrid installations.
• Hybrid power systems integrating solar and battery storage.
• Deployment of EV charging stations in public and private settings.

Ruggedized, customized electric light vehicles (e-LVs) for industrial use

The subsidiary Tembo e-LV focuses on providing electric solutions for customized and ruggedized fleet applications, including conversion kits for diesel vehicles used in sectors like mining and construction. The valuation for Tembo, based on a follow-on strategic direct equity investment milestone achieved in April 2024, was set at $120 million. The company's core battery solutions include modular energy storage products ranging from portable power stations to large-scale battery arrays under the Dragonfly Energy brand.

Reduced international transaction costs by accepting RLUSD stablecoin

Tembo e-LV began accepting RLUSD, Ripple Labs' stablecoin, for customer and partner payments starting September 8, 2025. This move directly addresses the lead time and high transaction costs associated with conventional international wire transfers, especially in developing markets where Tembo operates across Southeast Asia, Africa, and the Middle East. The value proposition is underpinned by the stablecoin's structure and market growth:

Integrated energy-as-a-service (EaaS) and transport-as-a-service (TaaS) models

VivoPower International PLC combines project financing with ongoing operations and maintenance services to deliver long-term, predictable returns. This structure supports both EaaS and TaaS through its energy infrastructure and EV charging network deployments. The company's financial standing as of early December 2025 reflects the scale of its operations, though recent earnings show challenges:

The integration of battery solutions and charging networks is central to these service models. It's a defintely complex structure, but the service delivery is clear.

VivoPower International PLC (VVPR) - Canvas Business Model: Customer Relationships

The relationship strategy for VivoPower International PLC centers on deep integration with key partners across its dual focus: energy infrastructure deployment and digital asset strategy.

Dedicated B2B sales and long-term service contracts for fleet owners

VivoPower International PLC supports its Infrastructure division, which focuses on financing, construction, ownership, and operation of clean energy projects, including EV charging networks and turnkey microgrid installations. While specific contract values for fleet owners are not itemized in the latest filings, the business model relies on securing long-term, predictable returns through ongoing operations and maintenance services tied to these deployed assets. The company's Tembo subsidiary develops and manufactures electric vehicle conversion kits (EUV and PUV) and the Tembo EVP lineup, targeting B2B fleet owners in sectors like mining, agriculture, and infrastructure.

Strategic partnerships with government and private-sector clients

VivoPower International PLC has established strategic partnerships to deploy energy assets in challenging environments, specifically mentioning remote mining sites and island communities. The relationship framework is evidenced by recent definitive agreements:

• Definitive Agreement with AVA, East Africa's largest vehicle assembler, to accelerate Tembo expansion, announced October 31, 2025.
• Heads of Agreement with KOSDAQ listed KWeather (South Korea) to launch an initial US$5 Million XRP Focused Digital Asset Reserve & WeatherCoin Tokenization Project, announced November 3, 2025.
• The company has offices across North America and the Asia-Pacific region, including the United States, Canada, and Australia, indicating a broad geographic client base requiring localized partnerships.

High-touch, consultative approach for complex microgrid projects

The deployment of hybrid power systems, integrating solar and battery storage, and turnkey microgrid installations necessitates a high-touch, consultative relationship. This is inherent in the Infrastructure division's work, which involves financing, construction, and ownership, suggesting deep, long-term engagement with clients needing customized, off-grid power solutions for remote telecommunications, defense, and emergency backup power applications. The company's reported revenue from contracts with customers for the fiscal year ended June 30, 2025, was $0.061 million.

Investor relations focused on digital-asset integration and sustainability

Customer relationship management extends to the investor base, heavily influenced by VivoPower International PLC's strategic transformation into an XRP-focused digital asset enterprise. This focus drives specific relationship-building activities:

The company's investor relations efforts also highlight its commitment to sustainability and its B Corp status. The engagement of auditor WithumSmith+Brown, PC, for the fiscal year ended June 30, 2025, reflects this strategic focus on digital-asset integration and technology-enabled sustainability.

VivoPower International PLC (VVPR) - Canvas Business Model: Channels

You're looking at how VivoPower International PLC gets its products and services to market as of late 2025. It's a mix of physical distribution, direct sales efforts, and a heavy pivot into digital assets, which use very different channels.

The physical distribution channel relies on established partners for its Tembo electric vehicle (EV) segment. As of October 31, 2025, VivoPower's Tembo executed a Definitive Agreement with AVA, East Africa's Largest Vehicle Assembler, to accelerate expansion across Africa. This builds on earlier plans, like the proposed $250 Million Australian Distribution Agreement for Tembo Light Electric Vehicles announced in December 2024. VivoPower International PLC maintains a physical footprint across Australia, Canada, the Netherlands, the United Kingdom, the United States, the Philippines, and the United Arab Emirates. The revenue generated from this segment, which includes EV sales, was $53.00k for the fiscal year ended June 30, 2025. Overall, the company's total revenue for that same fiscal year was $61.00K. To support the North American market penetration, the company appointed a North American Sales Director on October 8, 2025.

The digital asset and DeFi ventures use entirely different pathways to reach the market and secure funding. A major channel for capital has been private placements; for instance, a raise on May 28, 2025, secured aggregate gross proceeds of approximately $121 million by selling shares at $6.05 per share. Further enhancing this channel, VivoPower closed an equity raise on October 1, 2025, bringing in approximately $19 million at $6.05 per share. The revenue attributed to Digital Assets for the fiscal year ended June 30, 2025, was $8.00k. The company is leveraging partnerships to distribute access and services; VivoPower selected Crypto.com to provide custodial support, which offers exposure to Crypto.com's 150 million crypto native user base for $VVPR stock. Furthermore, a new project channel opened in South Korea, with an initial $5 Million XRP Focused Digital Asset Reserve & WeatherCoin Tokenization Project via a Heads of Agreement with KOSDAQ Listed KWeather on November 3, 2025.

The planned listing of Tembo, a subsidiary, via a Special Purpose Acquisition Company (SPAC) is a critical channel for unlocking value and gaining public market access for that specific business unit. The proposed business combination with Cactus Acquisition Corp. 1 Limited (CCTS) is targeting a closing by Q2, 2025. This transaction implies a combined enterprise value of US$904 million, assuming zero public trust redemptions. Separately, an investment agreement with Energi Holdings valued 100% of Tembo at $200 million for a 51% stake. A prior proposal from Energi also suggested an equity value of $838 million for the Tembo SPAC merger.

Here's a quick look at the financial scale associated with these channels for the fiscal year ended June 30, 2025:

The digital venture channel is also supported by strategic capital raises; the October 1, 2025, equity raise generated approximately $19 million. The Tembo SPAC transaction valuation is set at US$904 million. The company has personnel and operations spanning multiple regions, including the UK, Australia, Canada, the Netherlands, the US, the Philippines, and the UAE.

You can see the specific distribution of the $61.00K total revenue for FY2025:

• - Electric Vehicles: $53.00k
• - Digital Assets: $8.00k

VivoPower International PLC (VVPR) - Canvas Business Model: Customer Segments

You're looking at the customer base for VivoPower International PLC as of their fiscal year ended June 30, 2025. The company, which is a certified B Corporation, operates across Australia, the United States, Canada, and the United Kingdom.

The scale of the business engaging these segments is reflected in the latest reported financials: annual revenue for the fiscal year ending June 30, 2025, was $61.00K, with an annual loss reported at $12.8 million for the same period.

The customer segments targeted by VivoPower International PLC's Energy Solutions and Infrastructure divisions include:

• - Industrial fleet owners in mining, agriculture, and energy utilities
• - Government, defense, and humanitarian aid organizations
• - Developers and operators of remote telecommunications and off-grid sites
• - Digital asset investors and blockchain-focused financial institutions

The Energy Solutions division specifically supports end markets that align with several of these groups, providing modular energy storage products and integrated charging networks.

Here is a breakdown mapping the stated business activities to the required customer segments, using the financial context of the company's scale:

The Infrastructure division focuses on financing, construction, ownership, and operation of clean energy projects and electric vehicle charging networks, delivering turnkey microgrid installations and EV charging stations in both public and private settings.

The company has established strategic partnerships to deploy energy assets in challenging environments, such as remote mining sites and island communities.

The company's current market capitalization as of November 6, 2025, was $32.16 million.

The Tembo-branded products, including EUV and PUV battery-electric conversion kits and the Tembo Tusker pickup, target fleet owners transitioning their vehicles.

The company reported a net current asset position of $19.3 million as of June 30, 2025.

VivoPower International PLC (VVPR) - Canvas Business Model: Cost Structure

You're looking at the cost base for VivoPower International PLC as of late 2025, focusing on the figures from the fiscal year ended June 30, 2025 (FY2025). This is where the cash goes to keep the lights on and fund the dual strategy of sustainable energy solutions and digital asset transformation.

The largest single component of the reported operating expenses is the overhead required to run the global business.

The data shows that Selling, General & Admin (SG&A) expenses were reported at $8.23 million for FY2025, up from $7.52 million the prior year. This category covers the general running costs of the corporate structure.

When we look deeper into the operating cost structure, we see how the Tembo EV technology development and the digital asset strategy costs are captured, though not always broken out specifically as requested:

• Research and defintely development (R&D) for Tembo EV technology: Explicit R&D expense for FY2025 is reported as not available or zero in the detailed breakdown, though significant investment is implied by the ongoing Tembo transaction valuations, such as the $200 million enterprise valuation in the Energi Holdings agreement for a 51% stake in Tembo e-LV B.V..
• Costs related to digital asset infrastructure and mining operations: These costs for Caret Digital are likely embedded within the $0.517 million reported under Other Operating Items, or within SG&A. The company recently secured approximately $19 million in gross proceeds from an equity raise specifically to enhance its digital asset treasury strategy.
• Manufacturing and assembly costs for EV conversion kits and battery systems: Direct costs for Tembo's production are typically captured in the Cost of Revenue. For FY2025, the Cost of Revenue was reported as approximately $0.050 million (or $50 thousand) on revenues of $0.061 million, resulting in a Gross Profit of $0.011 million. This figure reflects the direct costs associated with the revenue-generating activities of the EV conversion business for the period.

To be fair, the lack of a specific R&D line item in the latest filing means you have to infer its impact from the overall operating expenses and the significant strategic activity around Tembo.

Finance: draft 13-week cash view by Friday.

VivoPower International PLC (VVPR) - Canvas Business Model: Revenue Streams

You're looking at the specific ways VivoPower International PLC brings in cash, which is crucial for understanding their path forward, especially given the recent financial filings.

The revenue streams for VivoPower International PLC as of late 2025 are segmented across product sales, digital income, and service contracts. Here is the breakdown based on the fiscal year 2025 (Last Twelve Months or LTM) figures:

The total annual revenue for VivoPower International PLC for the fiscal year ending June 30, 2025, was reported at $61.00K. This figure represents a significant year-over-year growth rate of 281.25% compared to the prior fiscal year. Still, it's important to note this revenue level against the backdrop of the company's overall financial performance.

Here are some other key financial metrics reported around that period, giving you context for these revenue figures:

• Net current asset position as of June 30, 2025, was $19.3 million.
• The reported net loss for the fiscal year ended June 30, 2025, was $12.8 million.
• As of December 2025, the Trailing Twelve Months (TTM) revenue was reported at $13.61 Million USD.

The revenue derived from project financing and long-term O&M fees is a component of the total, though its specific dollar amount isn't itemized alongside the product and digital asset streams in the same reporting context. This service-based revenue is typically what analysts look for to provide a more stable, recurring income base for the business model.

The composition of the $61.00K total revenue shows that electric vehicle product sales accounted for the vast majority of the reported income for that period. Finance: draft 13-week cash view by Friday.