Sunlabob Renewable Energy, a Laos-based group that specializes in bringing clean energy solutions to rural communities, has this week secured an impact investment of $2.1 million to enable it to expand its off-grid programs in Asia, Africa and the Pacific region.
The investment comes from Truestone Global Impact Fund, a U.K.-based impact investment fund that is jointly managed by Uberis Capital and Truestone Impact Investment Management.
According to Sunlabob CEO Andy Schroeter, the investment will enable the company to remain at the cutting-edge of off-grid sustainable energy development, and allow international expansion into the worlds most underserved regions for electricity.
"We are proud to leverage our 15 years of experience in remote, challenging areas of Laos to be able to now catalyze access to clean energy and water in places ranging from the islands of Micronesia to communities in sub-Saharan Africa," said Schroeter.
Sunlabob will use the funds to diversify its model, which combines off-grid solar-powered technology together with village-based training to ensure rural areas are better served with clean and reliable power. Sunlabob works with governments, multilateral development agencies and NGOs to ensure its rural electrification offering is widely understood, properly managed and delivered to those regions that need it most.
Cyrille Antignac, partner at Truestone Global Impact Fund, which invested in Sunlabob, said: "Sunlabobs understanding of renewable energy engineering and rural community development is a skill-set that is proving valuable not only in Laos but throughout the developing world.
"Were pleased to fund a business like Sunlabob that has shown sustainable growth while providing critical, life-changing services like electricity and clean water to underserved and unreached populations around the world."