EcoEnergy raises over $600,000 from SIMA funds
EcoEnergy is a pay-as-you-use solar energy provider in Pakistan.
They have successfully penned down a debt finance deal with Social Investment Managers and Advisors (SIMA). SIMA is funded by Dutch and Belgian national banks, AXA and MetLife. In addition to these two, some of the funding has been provided by USAID.
EcoEnergy plans to use the funding to purchase equipment and software from BBOXX, a British firm involved in the provision of off-grid solar power solutions worldwide. The CEO of BBOXX, Mansoor Humayun commented that the utility of BBOXX hardware paired with PULSE, their cloud-based task management utility, will be vital in helping companies like EcoEnergy to reach levels of profitability.
The Pulse platform is very helpful to off-grid energy distribution companies in ensuring efficient allocation of resources and time so that consumer satisfaction is at its peak. It helps in monitoring consumer usage and managing staff located in remote regions.
EcoEnergy will expand its operations to other parts of the country now using BBOXX’s products. The CEO of EcoEnergy, Shazia Khan remarked that the lack of electricity supply in the country is holding back financial and social development. She further added that there are 70 million people without a proper supply of electricity, making them EcoEnergy’s prospective customers.
She appreciated SIMA’s effort, commenting that their support is vital in expanding EcoEnergy’s customer base. EcoEnergy hopes to facilitate more than 10000 households by the end of 2018.
EcoEnergy is the brainchild of Shazia Khan, who was researching on clean energy solutions before the inception of this venture. She was introduced to Jeremy Higgs through a mutual connection, who was eager to develop recyclable power resources.