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."
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: firstname.lastname@example.org.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.