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International EV battery company to create $121M XRP treasury, adds former Ripple to board as chairman – TON BOT

International EV battery company to create $121M XRP treasury, adds former Ripple to board as chairman

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VivoPower International has agreed to a $121 million private capital raise to focus on XRP treasury platform. The company specializes in electric batteries, vehicles, and solar power solutions. The transaction includes selling 20 million shares at $6.05 each, led by Prince Abdulaziz bin Turki. Funds will be used for XRP accumulation and infrastructure development. Former Ripple board member Adam Traidman has joined as chairman. The company plans to spin off its subsidiaries, Tembo and Caret Digital, by the end of the third quarter. Shareholder approval is required for the private offering.

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