BEAM, the investment platform created by ClearlySo client Bamboo Capital Partners, announces partnership with BBOXX
BEAM, the investment platform created by ClearlySo client Bamboo Capital Partners, announces a partnership with BBOXX to bring greater access to clean, reliable and affordable energy in Togo, powering economic growth and transforming lives.
- This partnership follows and supplements the agreement signed today in Togo by EDF, the world’s leading electricity company, and BBOXX, a next generation utility
- BEAM, the investment platform created by Bamboo Capital Partners, will invest in BBOXX Togo
- It will accelerate the delivery of the Government of Togo’s energy access initiative providing electricity to millions of citizens
- The investment is the latest development in Bamboo’s vision to deliver energy services that will transform lives in emerging markets
26 October 2018, Geneva – BEAM, the investment platform created by Bamboo Capital Partners (‘Bamboo’), today announces a partnership with BBOXX to bring greater access to clean, reliable and affordable energy in Togo, powering economic growth and transforming lives. This partnership follows and supplements the agreement signed today by EDF, the world’s leading electricity company, and BBOXX, a next generation utility. Both companies will provide a reliable, affordable and CO2-free contribution to the Togo Government’s electrification programme, known as ‘CIZO’, which aims to supply over 500 000 households with solar home systems by 2030.
As part of the partnership, BEAM will invest in BBOXX Togo, the local DESCO (Distributed Energy Service Company). The injection of capital will be used to finance and accelerate the growth of BBOXX Togo.
BBOXX has been operating in Togo since 2017 and as a key partner in the CIZO programme, it has already supplied electricity to 26,000 Togolese households. BBOXX has opened around 20 shops, employing around 100 people in Togo. Its solar home systems include solar panels supplied with batteries to store electricity and payable with mobile money.
Mansoor Hamayun, CEO and co-founder of BBOXX, said: “Our latest deal with EDF symbolises the first stepping stone in a strong strategic partnership. It will see us work together to bring smart and sustainable energy solutions and other vital utilities and value-added services to the underserved. Working with global partners like EDF shows our commitment to scaling up, mobilising greater investment, generating meaningful impact and powering the economic development of some of the world’s least developed communities. “Access to energy is a real driver for economic growth in Togo and other countries in the region. BEAM’s investment in BBOXX Togo will be crucial in terms of generating the impact on which we are all focused.”
BEAM is the brainchild of Bamboo, a private equity firm delivering positive social and financial value, and BBOXX. The investment in BBOXX Togo represents the latest development in BEAM’s vision to deliver energy services that will transform lives in emerging markets, with 1.1 billion people still without access to energy.
Jean-Philippe de Schrevel, Founder and Managing Partner at Bamboo, commented: “This is a significant milestone for BEAM as it is a proof of concept moment. BEAM was created with a clear vision to catalyse substantial investment into off-grid energy access initiatives across the developing world, with today’s partnership a tangible example of this. I look forward to announcing similar partnerships, investments and deals in the coming months and years.”
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About Bamboo Capital Partners (http://www.bamboocp.com/)
Bamboo Capital Partners (“Bamboo”) is a pioneering private equity firm that delivers positive social and financial value. Bamboo invests in businesses primarily in financial services, energy and healthcare that leverage technology to have impact at scale in emerging markets.
Founded in 2007, Bamboo is a longstanding sector leader and through continuous evolution has a honed strategy for growth. Bamboo has consistently been recognised as a prolific impact investor, with their funds rated in the top quintile of funds globally since 2013 by GIIRS and as a Best for the World Fund by B Lab for the past two years. The firm has a team of 25 professionals active across Europe, South America, Africa and Asia.
About BBOXX (http://www.bboxx.co.uk/)
BBOXX is a venture backed next generation utility, developing solutions to provide affordable, clean energy to off-grid communities in the developing world. BBOXX is fully vertically integrated, controlling every part of its customer experience. Its market leading products and appliances coupled with our SMART Solar platform bring machine-learning and customer experience optimisation to rural Africa.
Ground-breaking financing structure has brought off-grid solar into the world’s financial markets. More than 150,000 systems have been deployed so far; 600 staff across 9 offices in China, UK and countries in Africa including Democratic Republic of Congo Kenya, Rwanda, and Togo.