VivoPower Executes $300 Million Definitive Joint Venture Agreement with South Korea-Based Lean Ventures to Acquire and Hold Ripple Labs Shares

Rhea-AI Summary

VivoPower (NASDAQ: VVPR) announced that its digital asset unit, Vivo Federation, has signed a definitive joint venture agreement with South Korea-based asset manager Lean Ventures to establish a dedicated investment vehicle targeting $300 million of Ripple Labs shares (initial tranche plus negotiated purchases).

VivoPower said it received written approval from Ripple Labs to buy an initial tranche of preferred shares and will originate and procure additional institutional holdings. Vivo Federation is expected to earn $75 million of net economic fees and carry over 3 years based on the $300 million assets under management, while the structure requires no capital commitment from VivoPower's balance sheet.

Positive

• $300M target assets under management to acquire Ripple Labs shares
• Vivo Federation targets $75M net economic fees over 3 years
• Written approval received from Ripple Labs to buy initial preferred tranche
• Structure provides economic exposure without using VivoPower balance sheet capital

Negative

• Additional purchases require bilateral negotiations with institutional holders
• Economic return of $75M is a targeted amount, not guaranteed

Key Figures

Target Ripple Labs shares $300 million Initial target of Ripple Labs shares for dedicated investment vehicle

VivoPower fee potential $75 million Budgeted management and performance fees over 3 years

Assets under management $300 million Initial assets under management basis for JV economics

Fee period 3 years Period over which $75 million net economic return is targeted

Planned K-Weather stake 20% Initial shareholding VivoPower aims to acquire in K-Weather

Current share price $2.54 Price before JV news; <b>-4.51%</b> over prior 24 hours

Market Reality Check

$2.88 Last Close

Volume Volume 456,505 is 1.38x the 20-day average of 331,914, indicating elevated interest ahead of this JV news. normal

Technical Shares at $2.54 are trading below the 200-day MA of $4.08 and sit 71.4% under the 52-week high.

Peers on Argus

VVPR’s -4.51% move contrasts with mixed solar peers: MAXN up 12.38%, FTCI up 7.53%, while SMXT is down 0.11% and TYGO flat. The reaction appears company-specific and tied to crypto-treasury strategy rather than a broad solar move.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Nov 03	XRP reserve deal	Positive	+18.6%	Heads of agreement with KWeather for XRP reserve and WeatherCoin project.
Oct 31	EV expansion deal	Positive	-35.0%	Tembo e-LV definitive agreement with AVA to scale in East Africa.
Oct 01	Equity raise	Positive	+14.0%	Completed <b>$19M</b> equity raise at a premium to fund XRP strategy and debt.
Sep 29	Korea office launch	Positive	+1.7%	Opened South Korean office to target large local XRP market.
Sep 18	Stablecoin partnership	Positive	+4.5%	Partnered with Confirmo to enable stablecoin-based payouts and RLUSD usage.

Pattern Detected

Crypto/XRP-related announcements have often seen positive reactions, while some non-crypto operational deals showed divergence, including a sharp selloff on an otherwise positive Tembo Africa expansion.

Recent Company History

Over recent months, VivoPower has pivoted toward an XRP-centric digital asset strategy while still advancing its Tembo e-LV business. A $19 million equity raise at $6.05 per share supported XRP treasury plans, and partnerships such as Confirmo and KWeather deepened its crypto footprint, especially in South Korea. Today’s Ripple Labs JV extends that trajectory, adding fee-based exposure to Ripple equity on a $300 million target asset base without using VivoPower’s own balance sheet.

Market Pulse Summary

This announcement adds another step in VivoPower’s XRP-centric strategy, giving it fee-based exposure to $300 million of Ripple Labs shares and potential $75 million in economics over three years without deploying its own capital. In context of recent South Korean initiatives and crypto partnerships, investors may monitor execution of this JV, progress on K-Weather discussions, and funding and going‑concern disclosures in upcoming filings.

Key Terms

joint venture financial

"has entered into a definitive joint venture agreement with Lean Ventures"

A joint venture is when two or more companies team up to work on a specific project or business idea, sharing both the risks and the rewards. It’s like friends starting a lemonade stand together—each contributes resources and they split the profits, making it easier to succeed than going alone.

preferred shares financial

"written approval from Ripple Labs to purchase an initial tranche of Ripple Labs preferred shares"

Preferred shares are a type of investment that gives investors priority over common shareholders when it comes to receiving dividends and getting their money back if a company is sold or liquidated. Think of them as a safer, more predictable way to earn income from a company's profits, similar to a fixed-return investment, but without voting rights. This makes preferred shares appealing to those seeking stable income with a higher claim on assets than regular stockholders.

assets under management financial

"based on an initial $300 million of assets under management"

Assets under management (AUM) is the total value of all the investments that a financial company or fund is responsible for overseeing on behalf of its clients. It’s like a big bucket that shows how much money the firm is managing for people or organizations. A higher AUM often indicates a larger, more trusted company, and it can influence how much money they earn and the services they can offer.

AI-generated analysis. Not financial advice.

VivoPower will procure Ripple Labs shares for the joint venture’s dedicated investment vehicle, resulting in budgeted management and performance fees for VivoPower of $75 million over 3 years

Lean Ventures is a licensed South Korean asset manager which manages funds for the Government of South Korea and other limited partners

VivoPower has received approval from Ripple for the purchase of an initial tranche of Ripple Labs shares

LONDON, Dec. 12, 2025 (GLOBE NEWSWIRE) -- VivoPower International PLC (NASDAQ: VVPR) (the "Company"), today announced that its digital asset unit, Vivo Federation, has entered into a definitive joint venture agreement with Lean Ventures, an established and licensed South Korean asset manager, headquartered in Seoul.

Under the terms of the joint venture agreement, Lean Ventures will arrange for the establishment of a dedicated investment vehicle to acquire and hold an initial target of $300 million of Ripple Labs shares. Lean Ventures has already canvassed interest from qualified South Korean institutional and retail investors. This may include K-Weather, which recently entered into a heads of agreement with VivoPower for the Company to acquire an initial 20% shareholding in K-Weather. VivoPower is in the final stages of due diligence on this transaction.

Vivo Federation’s role in the Lean Ventures joint venture is to originate and procure Ripple Labs shares on behalf of the dedicated investment vehicle. VivoPower recently received written approval from Ripple Labs to purchase an initial tranche of Ripple Labs preferred shares and is now negotiating bilaterally to purchase additional Ripple Labs shares from institutional holders of Ripple Labs shares worth an estimated $300 million.

As part of the joint venture, Vivo Federation will receive a share of management fees and performance carry, which would target a net economic return for VivoPower of $75 million over 3 years based on an initial $300 million of assets under management. The structure of this agreement allows VivoPower to gain economic exposure to any future upside in the value of Ripple Labs and underlying XRP holdings, without committing capital from its own balance sheet.

Adam Traidman, Chairman of VivoPower’s Advisory Council, said: “We are delighted to have entered into this partnership with Lean Ventures, given its established status and reputation in South Korea. As we have noted previously, South Korea is a highly strategic market for Vivo Federation, given that it is the largest holder by value and number of XRP tokens in the world. With this dedicated investment vehicle, qualifying South Korean institutional and retail investors can gain exposure to Ripple Labs shares and, in turn, XRP at a material discount to the spot price.”

Chris Kim, Managing Partner of Lean Ventures, said: “There is significant appetite in South Korea amongst institutional and retail investors seeking to gain exposure to Ripple Labs shares. We are honored to be working with VivoPower and look forward to a longstanding and prosperous partnership.”

About VivoPower

Originally founded in 2014 and listed on Nasdaq since 2016, VivoPower operates with a global footprint spanning the United Kingdom, Australia, North America, Europe, the Middle East, and Southeast Asia. An award-winning global sustainable energy solutions B Corporation, VivoPower has three business units, Tembo, Caret Digital, and Vivo Federation. Tembo is focused on electric solutions for off-road and on-road customized and ruggedized fleet applications, as well as ancillary financing, charging, battery, and microgrid solutions. Caret Digital is a power-to-x business focused on the highest and best use cases for renewable power, including digital asset mining. Vivo Federation is the digital asset arm of VivoPower, focused on XRPL based real-world blockchain applications and maintaining exposure to Ripple Labs shares and XRP tokens.

Forward-Looking Statements

This communication includes certain statements that may constitute "forward-looking statements" for purposes of the U.S. federal securities laws. Forward-looking statements include, but are not limited to, statements that refer to projections, forecasts, or other characterizations of future events or circumstances, including any underlying assumptions. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intends," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements may include, for example, statements about the achievement of performance hurdles, or the benefits of the events or transactions described in this communication and the expected returns therefrom. These statements are based on VivoPower's management's current expectations or beliefs and are subject to risk, uncertainty, and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive and/or regulatory factors, and other risks and uncertainties affecting the operation of VivoPower's business. These risks, uncertainties and contingencies include changes in business conditions, fluctuations in customer demand, changes in accounting interpretations, management of rapid growth, intensity of competition from other providers of products and services, changes in general economic conditions, geopolitical events and regulatory changes, and other factors set forth in VivoPower's filings with the United States Securities and Exchange Commission. Due to circumstances outside of its control and/or any other unexpected developments, VivoPower may not ultimately procure any financial benefits from the above joint venture agreement. The information set forth herein should be read in light of such risks. VivoPower is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements whether as a result of new information, future events, changes in assumptions or otherwise.

Media Contacts

VivoPower: media@vivopower.com

FAQ

What is the size of the joint venture between VivoPower (VVPR) and Lean Ventures?

The joint venture targets a dedicated vehicle to acquire $300 million of Ripple Labs shares.

How much does VivoPower (VVPR) expect to earn from the Lean Ventures joint venture?

VivoPower targets a $75 million net economic return from management fees and carry over 3 years based on the $300 million initial AUM.

Has Ripple Labs approved VivoPower (VVPR) to buy shares?

VivoPower received written approval from Ripple Labs to purchase an initial tranche of preferred shares.

Will VivoPower (VVPR) commit its own balance sheet capital to the Ripple investment?

The announced structure is intended to give VivoPower economic exposure without committing capital from its balance sheet.

Who will provide investors for the Ripple vehicle arranged by Lean Ventures and VVPR?

Lean Ventures has canvassed interest from qualified South Korean institutional and retail investors to fund the dedicated vehicle.

Are additional Ripple share purchases already completed for the VivoPower (VVPR) joint venture?

VivoPower is negotiating bilateral purchases of additional institutional Ripple Labs shares estimated at $300 million but those purchases are subject to negotiation.