VivoPower International, an electric vehicle battery and energy company, announced on May 28, 2025, that it had agreed with investors on a $121 – million private capital raise to fund the company’s transformation into an XRP – focused treasury platform. Here are the details:
Company Background: VivoPower focuses on electric batteries, vehicles, and solar – power solutions. Its subsidiary, Tembo, manufactures electric vehicles for the mining and industrial sectors.
Capital – Raising Details: The transaction involves selling 20 million ordinary shares at $6.05 each. The round was led by Prince Abdulaziz bin Turki Abdulaziz Al Saud and included participation from institutional digital – asset investors, the investment office of VivoPower Chairman Kevin Chin, and other strategic stakeholders.
Fund Utilization: The funds will be mainly used to accumulate XRP and develop infrastructure supporting the XRP Ledger (XRPL) for real – world decentralized finance use cases. The company will also allocate capital to reduce debt and support corporate operations. VivoPower views this treasury as complementary to the US government’s recently announced strategic Bitcoin reserve and digital – asset stockpile initiatives, in which XRP is reportedly one of the five core digital assets.
Board Expansion: Adam Traidman, a former Ripple board member, has invested in this round and joined VivoPower’s board of advisors as chairman. Traidman emphasized the strength of the XRPL ecosystem and said this move reflects the broader institutional adoption of blockchain infrastructure. Chairman Kevin Chin stated that VivoPower’s decision comes from its firsthand experience with cross – border payments and the friction they cause. The company also sees practical blockchain applications in its electric – vehicle unit and mining – infrastructure arm. Both subsidiaries are scheduled for spin – off by the end of the third quarter.
Conditions for the Private Offering: The private offering is subject to shareholder approval, which will be sought at a meeting scheduled for June 18 or shortly after. The deal also requires the fulfillment of customary conditions, including the absence of material adverse changes or termination of the purchase agreements.
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