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South African electric vehicle startup Zimi has received a grant of $320,000 (about R6 million) from the Energy and Environment Partnership (EEP Africa Trust Fund).
This funding will support Zimi’s testing of a technology called vehicle-to-grid (V2G).
V2G technology enables electric vehicles (EVs) to send power back to homes, businesses, or the electricity grid whenever necessary.
This can significantly help in countries like South Africa, where electricity supply issues, including frequent power outages, affect daily life and the economy.
EEP Africa chose Zimi among only 32 successful projects from more than 530 applications.
The grant’s primary purpose is to test the practical use of V2G technology, identify challenges, and develop a business model suitable for current grid conditions.
Zimi aims to support large logistics companies in switching to electric vehicles. This transition is expected to lower their operational costs and reduce carbon emissions.
By adopting V2G, idle vehicles in a fleet can serve as backup energy sources, helping businesses manage energy needs more effectively.
Michael Maas, CEO of Zimi, explained that early adoption by logistics companies will pave the way for wider consumer acceptance of electric vehicles.
“Our successful collaborations, including with Bakers Logistics, demonstrate our capability and reliability,” he said.
“We are delighted to partner with ISA to support the development of solar energy in Africa,” said Alain Ebobissé, CEO of Africa50. “This partnership will help to accelerate the deployment of solar energy in Africa and improve the lives of millions of Africans,” he added.
Nucleon Security, a cybersecurity firm founded in 2019, has successfully secured €3 million (about US$3.5 million) in seed‐stage funding.
South Africa-based venture capital firm Knife Capital is celebrating its 15th anniversary with strategic Series A investments in two local startups, Sticitt and Optique, as part of its ongoing commitment to scaling innovation across the continent.
South Africa’s leading independent payments processor, Adumo, has been acquired by fellow fintech company Lesaka in a deal valued at ZAR 1.59 billion (US$85.9 million), subject to approvals.
