EforA Coalition and Acumen launch Investor Network
Efficiency for Access (EforA) Coalition and Acumen launch Investor Network to target capital for productive uses of energy and reduce existing barriers so investors can identify where the off-grid market for electrical equipment needs support.
This partnership aims to create an Efficiency for Access (EforA) Investor Network, a group of 15 leading investors who have expressed interest in making investments in energy companies focusing on productive use.
As the off-grid solar market continues to grow and evolve, off-grid appliances and industrial equipment will be increasingly important, despite many technologies for productive use, from refrigeration solutions to water pumps, are far from commercial viability. There are no data on several important issues such as the quality and performance of the devices used; whether products are accessible to customers; the position of companies in this market. Despite the willingness of investors, without access to this information, it is not possible to help the market evolve.
Productive use companies that are showing good customer traction, strong performance records and financing mechanisms to put their products within reach of low-income customers will need investment capital to achieve their goals. Both equity and debt will be required to fund and scale core operations, which is where the EforA Investor Network will offer a shortcut for promising companies to access capital.
As the energy distribution sector acknowledges productive use as the next frontier, investors are joining the movement to bring these technologies within reach. EforA Coalition and Acumen aim to encourage the flow of risk capital from investors to entrepreneurs.
For further information go to Efficiency for Access.
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