Chiswick Tech Company Bringing Solar Energy To The Developing World

Power Road-based BBOXX has secured £50 million funding deal

A Chiswick company set up by three engineering students has secured a £50 million funding deal from Mitsubishi to bring Pay As You Go solar energy to the developing world.

BBOXX,which is based in Power Road, has installed 200,000 solar home systems (SHS) which are remotely monitored via BBOXX Pulse™.

The investment from Mitsubishi Corporation will help drive BBOXX’s growth across Africa, where it currently operates in 12 countries, as well as in Asia. The company estimates that it has helped over one million people access energy through its Pay As You Go system using mobile money. It plans to expand this to millions more with the new funding deal.

The company provides a number of products primary for homes and micro businesses in poor-grid rural or urban areas. Most customers earn their living by farming coffee or vanilla bean on small plots of 1-2 acres. Some, especially around the Great Lakes, are fishermen who catch tilapia and nile perch.

An example is in the African country of Togo, where less than one fifth of the population has access to electricity. In 2017, households with BBOXX solar home systems were granted a monthly subsidy of 2,000 FCFA (c.4$) over a three-year period by the government.This subsidy is designed to encourage people to opt for clean solar energy as opposed to kerosene.

A similar system is in operation in the Democratic Republic of Congo ( DRC) where less than 16% of citizens have access to reliable electricity. The BBOXX system allows the local people to have access to lighting, fridges and televisions.

PAYG means that a company rents solar energy systems to consumers – households, shops, SMEs, etc. Consumers then use mobile money to transfer payments on a regular basis and pay back their system over a contract period. Once paid, ownership is transferred to the consumer.

The three co-founders of BBOXX met at Imperial College London while studying Electrical and Electronics Engineering. All three had traveled in the developing world and recognised the challenge posed to community and business development by the unreliable electrical supply. They saw potential in the lack of existing infrastructure to create a sustainable, environmentally responsible solution to the problem.

In response, the trio founded a successful student charity, which exposed the potential for off-grid solar solutions in the developing world. BBOXX is the resulting for-profit venture and started in March 2010.

Mansoor Hamayun, CEO and Co-founder, BBOXX, said,“The funding is further evidence of Japanese interest in Africa and in PAYG solar energy globally".

August 30, 2019