IP : Blog- Plugging Africa's electricity gap

In Africa over 750 million people have access to a mobile phone and yet 600 million people live without access to the electricity grid. This 'leapfrog' over fixed line communications and rapid expansion in mobile phone penetration gives a flavour of the leap expected and already happening in the provision of electricity and related products and services.

Azuri Technologies is a leader in this market, combining advances in solar panels, batteries and machine learning to provide Pay-as-you-go solar powered products and services to those currently living off grid. As a result, Azuri is growing rapidly as evidenced by its recent inclusion in the Sunday Times Tech Track 100.

Life-changing technology

In rural Africa, without access to electricity, kerosene lanterns are commonly used for lighting. The smoke and soot from these lanterns cause numerous deaths and major health problems as well as damaging the environment through their dirty carbon emissions.

Azuri systems provide the next generation of electricity and related products and services, that not only cost effectively overcome these health and environmental problems but also improve livelihoods and encourage economic development. If you want to get more of an idea of what these systems are like and how they benefit their users, see videos here.

Azuri Technologies is part of IP Group's Cleantech portfolio

The scale of the addressable market, positive environmental impact and intelligent, capital-efficient approach made Azuri an excellent fit with IP Group's Cleantech portfolio. Product innovation is one example of Azuri's differentiated approach: by clever product design and the use of machine learning algorithms when in operation, Azuri's 24' TV has the same power consumption as a single low energy light bulb. Similar innovations in distribution and financing meant we could see a route to build a scalable, cost-effective business and we have worked closely with the team on delivering that.

The Tech Track announcement provides welcome recognition of what the Azuri team has delivered to date and shows that the UN's Sustainable Development Goals can be delivered in tandem with strong financial performance. The announcement follows news earlier this year that Fortune 500 company Marubeni had become a major shareholder, leading a $26m investment in the business. We continue to be a committed partner of Azuri and believe the next phase for the business is going to be even more exciting.

Jamie Vollbracht, Partner, Cleantech