SteamaCo today announces its $5m Series B equity financing. This latest round of funding supports the company's continued technology development and growth, enabling reliable electricity services for hundreds of thousands of previously underserved people across 10 countries. Praetura Ventures and Shell co-led the investment round, with participation from existing shareholders.
Myanmar is one of the least electrified countries in the world. In Southeast Asia, only Cambodia is comparable. In 2019, just 30% of the population is connected to the national grid, and in rural areas this drops to 16%. Average annual per capita electricity consumption is 160kWh: 5% of the world average.
In Mali, a village self-funds their grid, Africa Greentec installs solar and SteamaCo brings the tech.
Africa GreenTec, a German start-up, is pioneering the renewable sector in Mali through the distribution of their unique Solartainers. With the entire kit packing into, and folding out of, a 40-foot container that can mount on the back of a truck, one Solartainer includes a 50 kWp photovoltaic installation and a 60 kWh battery storage system, providing and storing electricity for 4,000 people.
This year marks our third birthday at the Manchester Science Park (MSP), located in the noteworthy city of Manchester, known as The Rainy City (can’t think why) and we could not have asked for a more perfect base for our growing company. MSP provides support for fast-growing technology companies like us; specialist environments for growth and learning; and a fascinating community of businesses.
Rensource is a distributed energy company on a mission to electrify Nigeria. This case study shows the negative effects of “bad-grid” - urban grid-connected areas with regular power outages - and how Rensource and SteamaCo are working to change Nigeria’s energy infrastructure for the better, connecting thousands of businesses across Nigeria's urban centres to solar power.
SteamaCo, a market leading technology company focused on enabling energy access in frontier markets, today announced its $2.9 million Series A equity financing. The investment supports the company to further develop its universal smart meter platform for utility customers in Africa, Asia and Latin America. Shell led the investment round, with participation from existing investors: GReeN investor group and Ashden Trust.