Kenyan energy startup Hydrobox has secured $9 million (1.3 billion) in debt funding to develop eight small hydro projects across four mini-grids in Kenya.
This effort aims to deliver reliable and affordable electricity to over 10,000 people and local businesses.
Strategic Investment
Hydrobox focuses on building, owning, and operating mini-grids in underserved areas.
These grids serve various clients, including anchor clients like factories and farms, small businesses such as schools, hospitals, shops, and restaurants, as well as households.
By providing dependable, accessible power, the grids meet critical energy needs in these communities.
Innovative Solutions
The company’s innovative containerized hydro power plants are designed to cut construction costs, shorten production timelines, and enable deployment in remote off-grid locations.
Each unit is equipped with advanced Internet of Things (IoT) technology, enabling remote monitoring and management to enhance efficiency and reduce downtime.
This strategic $9 million debt funding was provided by FMO, the Dutch entrepreneurial development bank, and EDFI Management Company, through ElectriFI, an EU impact investment facility dedicated to expanding clean energy access in developing countries.
The funding will support eight small hydro projects within four mini-grids, anticipated to supply electricity to about 2,582 households, ultimately benefiting over 10,000 people.
These projects will deliver essential power to communities and businesses, ensuring access to reliable and affordable electricity.
By utilizing small local rivers, Hydrobox offers a sustainable and environmentally friendly energy solution that reduces reliance on fossil fuels, decreases carbon emissions, and generates employment opportunities through local operations.
Chief Executive Officer (CEO) and co-founder of Hydrobox, Thomas Poelmans shared his gratitude and vision for the future, stating: “Our partnership with reference investors FMO and ElectriFI serves as a quality label and recognition for the hard work our team has put in over the last few years. With strong partners on board and a substantial pipeline of upcoming projects in Kenya and the DRC, we are well-positioned to make a meaningful impact on energy access across Africa, aiming to reach 1,000,000 end-users by 2030. We thank everyone who has believed in and supported our journey.”
Focused Impact
Kenyan energy startup Hydrobox has secured $9 million (1.3 billion) in debt funding to develop eight small hydro projects across four mini-grids in Kenya.
This effort aims to deliver reliable and affordable electricity to over 10,000 people and local businesses.
Hydrobox focuses on building, owning, and operating mini-grids in underserved areas.
These grids serve various clients, including anchor clients like factories and farms, small businesses such as schools, hospitals, shops, and restaurants, as well as households.
By providing dependable, accessible power, the grids meet critical energy needs in these communities.
The company’s innovative containerized hydro power plants are designed to cut construction costs, shorten production timelines, and enable deployment in remote off-grid locations.
Each unit is equipped with advanced Internet of Things (IoT) technology, enabling remote monitoring and management to enhance efficiency and reduce downtime.
This strategic $9 million debt funding was provided by FMO, the Dutch entrepreneurial development bank, and EDFI Management Company, through ElectriFI, an EU impact investment facility dedicated to expanding clean energy access in developing countries.
The funding will support eight small hydro projects within four mini-grids, anticipated to supply electricity to about 2,582 households, ultimately benefiting over 10,000 people.
These projects will deliver essential power to communities and businesses, ensuring access to reliable and affordable electricity.
By utilizing small local rivers, Hydrobox offers a sustainable and environmentally friendly energy solution that reduces reliance on fossil fuels, decreases carbon emissions, and generates employment opportunities through local operations.
CEO Vision
Chief Executive Officer (CEO) and co-founder of Hydrobox, Thomas Poelmans shared his gratitude and vision for the future, stating: “Our partnership with reference investors FMO and ElectriFI serves as a quality label and recognition for the hard work our team has put in over the last few years. With strong partners on board and a substantial pipeline of upcoming projects in Kenya and the DRC, we are well-positioned to make a meaningful impact on energy access across Africa, aiming to reach 1,000,000 end-users by 2030. We thank everyone who has believed in and supported our journey.”