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Social investors back off-grid solar

An off-grid solar developer has agreed a new crowdfunding deal to help finance the supply of clean power systems to Sub-Saharan Africa nations.

BBOXX, which recently raised €1 million via the Trine platform, to take its clean energy tech into Kenya – having already made an impact in Rwanda, is now going to tap into social investors via the Energise Africa initiative pioneered by ‘online impact investing platforms, Ethex and Lendahand’ and supported by UK Aid and Virgin Unite. The Energise Africa campaign is striving to contribute to UN Sustainable Development Goal 7 – ensuring access to affordable, reliable, sustainable and modern energy for all by 2030.

And BBOXX, which aims to £2.5 million annually through this new tie-up, will use the money to expand its Pay-As-You-Go solar platforms, available to users for around £3-5 per month, into Togo, the Democratic Republic of the Congo and Nigeria. These funding routes will also help it move towards its target to supply green energy to 20 million people by the end of the decade.

“At BBOXX we are dedicated to exploring innovative ways to finance the scaling of our business – enabling us to provide even more people with affordable, clean energy. Working with Lendahand Ethex as crowdfunding via their Energise Africa campaign represents an exciting mechanism to help us access critical finance to achieve our objectives,” said Mansoor Hamayun, CEO, BBOXX.

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