New Investments
Kenyan’s Hydrobox Raises $9 Million to Deliver Sustainable Power to Over 10,000 People in Kenya
Kenyan renewable energy startup Hydrobox has secured $9 million in debt funding to expand its small hydro projects, delivering affordable and reliable electricity to underserved communities in Kenya.
The investment will support eight hydro-powered mini-grids that are set to benefit over 10,000 individuals and local businesses.
Hydrobox, known for its innovative approach to energy access, builds, owns, and operates containerized hydro power plants.
These plants, designed for cost-efficiency and rapid deployment, provide sustainable energy solutions to areas that are often off-grid and challenging to reach.
Leveraging advanced IoT technology, each hydro unit is remotely monitored and managed, ensuring optimal efficiency and minimal downtime.
The $9 million funding was secured from FMO, the Dutch entrepreneurial development bank, and EDFI Management Company, through ElectriFI, an EU impact investment facility dedicated to clean energy projects in developing nations.
The capital injection will enable Hydrobox to expand its operations and provide electricity to 2,582 households across four mini-grids, benefiting a wide range of clients, including factories, farms, schools, hospitals, restaurants, and households.
Hydrobox’s approach harnesses the power of local rivers to generate sustainable energy, reducing reliance on fossil fuels and lowering carbon emissions.
This strategy not only promotes environmental sustainability but also supports local job creation and economic development.
Thomas Poelmans, CEO and co-founder of Hydrobox, emphasized the importance of the new funding and partnerships.
“Our collaboration with esteemed investors FMO and ElectriFI is a testament to the dedication of our team. With these strong partners and a robust pipeline of projects in Kenya and the DRC, we are on track to make a significant impact on energy access in Africa. By 2030, we aim to reach one million end-users,” he said.
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