Search Results for: electric
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MOBILITY
BasiGo secures $42 million to scale electric bus supply in East Africa
BasiGo, the Kenyan electric vehicle manufacturer has closed US$42 million in new funding led by Africa50, the pan-African infrastructure investor and asset manager The funding round consists of US$24 million in Series A equity funding along with US$17.5 million in debt facilities from British International Investment (BII) and the U.S. Development Finance Corporation (DFC). The equity round features co-investments from…
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NEWS
BURN Secures $15 Million To Scale Electric Cooking In East Africa
BURN, the manufacturer of clean cooking stoves has secured a US$15 million investment from the European Investment Bank (EIB). The investment was announced during the World Bank/IMF Annual Meetings in Washington. This funding will accelerate BURN’s efforts to manufacture and distribute its IoT-enabled ECOA electric cooking appliances to over 1 million households in East Africa. The ECOA Induction Cooker (IDC)…
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MOBILITY
Spiro expands electric mobility in Nigeria
Spiro, Africa’s largest electric vehicle (EV) player, has announced the official launch of its operations in Ogun State, Nigeria. The landmark expansion marks a pivotal moment in the electric mobility landscape of Nigeria’s largest economy. With more than 18,000 electric motorbikes already deployed across sub Saharan Africa, Spiro’s strategic expansion into Nigeria will see its presence in up to eight…
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MOBILITY
Watu to finance 10,000 electric bikes in 2024 in push for E-mobility
Asset financing company, Watu has revealed plans to finance 10,000 electric bikes in 2024 in Kenya as it pushes for e-mobility adoption in Kenya. The pans are included in the company’s inaugural sustainability report released last week which highlights its progress in financing mobility and connectivity assets and the environmental impact of its operations. Watu says the report is the first…
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RENEWABLE ENERGY
Epson Achieves 100% Renewable Electricity for All Japanese Facilities
Epson announced on Tuesday it has achieved a major sustainability milestone by switching to 100% renewable electricity for all its 14 owned sites in Japan in 2021. This accomplishment marks a significant step in Epson’s ongoing commitment to environmental sustainability and sets a benchmark for the manufacturing sector worldwide. The manufacturing sector, accounts for around a third of the world’s…
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MOBILITY
Roam secures $24m Series A funding to accelerate electric vehicle production in Kenya
Roam, an electric mobility player in electric vehicle (EV) innovation in Africa, is set to expand its operations in Kenya, following a $24 million Series A funding round. This funding round was led by Equator Africa and includes investments from Renew Capital, At One Ventures, TES Ventures, The World We Want, and One Small Planet, among other prominent private and…
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AFRICA & MENA
Watu and Spiro partner to improve access to affordable financing for electric motorbikes in Kenya
Asset financing company Watu Credit and SPIRO, a pioneer in sustainable urban mobility solutions, have announced a partnership to improve access to affordable financing for electric motorbikes in Kenya. Spiro has set up a headquarters in Mombasa, and has the largest electric two-wheeler fleet in Africa with over 10,000 bikes deployed in Kenya, Benin, Togo, Rwanda and Uganda. Speaking during the announcement, Erick Massawe, Kenya…
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NEWS
Epson Adopts 100% Renewable Electricity Across the Globe
Seiko Epson Corporation, has become the first in its sector to fully adopt renewable energy sources for all its operations worldwide as of December 2023. This shift to green energy covers their entire global network, including their facilities in Japan. Annually, Epson’s electricity consumption totals around 876 GWh. By transitioning to renewable sources, the company anticipates reducing its carbon emissions…
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ENERGY
Kenya Seals KSh95.68 Billion Power Project Deal with Adani
Kenya Electricity Transmission Company Limited (KETRACO) has signed a new deal with Adani Energy Solutions for the development of transmission lines and sub-stations. According to a statement from Opiyo Wandayi, the Cabinet Secretary for Energy and Petroleum, ”the agreement marks the beginning of a transformative initiative to develop, finance, construct, operate, and maintain key transmission lines and substations across Kenya.…
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BRAND & SUSTAINABILITY
Equity Group elevates sustainability efforts, setting global benchmark in climate-related transactions
Equity Group has set a global benchmark with the highest number of climate-related transactions among 258 financial institutions worldwide. The lender supported 47,000 climate transactions addressing climate mitigation and adaptation initiatives to tackle the negative impacts of climate change. This is according to Equity Group’s 2023 Sustainability Report which was launched on Tuesday. It exemplifies Equity’s unwavering commitment to socio-economic…
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