Off Grid Electric, a solar leasing company in Africa, received an investment from Electranova Capital US.
The amount of the deal was not disclosed.
The funds will be used to enter new African countries, and to continue to scale up Off Grid Electric’s effort in partnership with the Tanzanian government to power 1 million homes by 2017.
Led by Xavier Helgesen, CEO, Erica Mackey, COO, Joshua Pierce, CTO, Off Grid Electric delivers stand-alone solar systems to a range of last-mile customers at costs lower than traditional kerosene lighting. It does this by using mobile technology, and building from the ground up to incorporate every aspect of product design, distribution, sales, financing and service.
based in San Francisco, Buolder and in Tanzania, the company offers a basic service coming with LED lights, a radio, a USB charger, and a TV and larger systems providing extra energy for charging more mobile phones and powering appliances and televisions.
Electranova Capital US is the energy cleantech venture capital fund dedicated to the US, managed by Idinvest Partners, and sponsored by EDF.
FinSMEs
24/02/2016