Kenyan energy startup Hydrobox has successfully raised $9 million in debt funding to support the development of eight small hydro projects across four mini-grids in Kenya. This milestone aims to deliver reliable and affordable electricity to over 10,000 people and local businesses.
Bringing Power to Underserved Communities
Hydrobox specializes in building, owning, and operating mini-grids in underserved regions. These mini-grids provide accessible and dependable power to a variety of clients, including:
- Anchor clients such as factories and farms.
- Small businesses like schools, hospitals, shops, and restaurants.
- Households in off-grid areas.
The independent grids are designed to improve access to electricity, enabling these communities to thrive economically and socially.
Innovative Technology for Cost-Efficiency
Hydrobox’s unique containerized hydro power plants lower construction costs, shorten production timelines, and enable deployment in remote locations. Each unit is equipped with IoT technology for remote monitoring and management, ensuring optimal performance and minimizing downtime.
This technological approach makes Hydrobox’s solutions not only scalable but also highly efficient for off-grid communities in need of reliable power.
Strategic Investment Partners
The $9 million debt investment comes from FMO, the Dutch entrepreneurial development bank, and EDFI Management Company, through ElectriFI, an EU-backed impact investment facility dedicated to clean energy access in developing countries.
This funding will support eight hydro projects that will power four mini-grids, providing electricity to approximately 2,582 households, ultimately impacting over 10,000 individuals.
Sustainable and Locally-Sourced Power
Hydrobox’s projects harness the potential of small local rivers, offering a sustainable and locally-sourced power solution. This reduces reliance on fossil fuels, lowers carbon emissions, and promotes job creation through on-the-ground services and support.
By providing reliable electricity, Hydrobox helps improve living standards, foster economic growth, and create opportunities for businesses in these regions.
CEO’s Vision for the Future
Thomas Poelmans, CEO and co-founder of Hydrobox, expressed optimism about the partnership, stating:
“This funding allows us to bring sustainable energy to areas that need it the most. We are committed to building a future where communities can rely on clean and affordable power for their everyday needs.”
Hydrobox’s initiative represents a significant step toward advancing clean energy access and fostering economic empowerment in Kenya’s underserved regions.