VivoPower is an early-stage company operating across three businesses: ruggedized electric vehicles, sustainable energy solutions, and digital asset mining. The core operating business is Tembo, a Netherlands-based subsidiary that designs battery-electric conversion kits to convert Toyota LandCruiser pickup trucks into electric vehicles for B2B fleet operators in mining, agriculture, defense, safari tourism, and utilities. Tembo also sells the Tusker, a purpose-built electric pickup truck targeting Australian and New Zealand fleet operators, and is developing conversion kits for Jeepneys in the Philippines in partnership with Sarao Motors. Tembo sells primarily through regional distributors rather than direct-to-customer. Tembo has shifted to a capital-light model, outsourcing assembly across a pan-Asian supply chain, which management argues has reduced bill-of-materials costs and made Tembo's kits the lowest-cost option in the market. VivoPower's sustainable energy solutions segment complements Tembo by offering EV charging infrastructure, microgrids, and battery storage to fleet operators lacking on-site charging capability. The company also operates Caret, which originally developed utility-scale solar projects and has since pivoted to Dogecoin and Litecoin mining using renewable energy. At the corporate level, VivoPower has begun allocating treasury assets into XRP, positioning itself as a digital asset treasury company. Neither Tembo nor Caret has generated meaningful revenue to date.