Browsing: Toyota Tshusho

Kenya based Powerhive Inc secures US$9.3m from Toyota Tsusho

Kouros, a clean energy investment company, and Powerhive Inc, an energy solutions and technology provider for emerging markets, announced the closing of a US$9.3m Series B round of funding.

Powerhive’s existing investors including Caterpillar Ventures James Sandler, Prelude Ventures, Tao Capital, and Total Energy Ventures together with Kouros and TO.org, joined Toyota Tsusho Corporation, the general trading company and member of Toyota Group who initiated this round.

The venture financing will support Powerhive’s growth by reaching 20,000 connections in Kenya where the company has operated rural microgrids since 2012. Powerhive became Kenya’s first privately licensed electricity utility leveraging its unique development and technology platform.

Powerhive leverages its proprietary technology platform to develop and operate portfolios of renewable microgrids that supply affordable, reliable and productive electricity to off-grid communities in emerging markets.

Read also:JUMEME`s PV mini-grid to light up Tanzania

Powerhive’s long-term and scalable energy access solution drives rural economic …