2:14:30 PM PDT - Monday, August 15th, 2022

Beacon Power Services raises $2.7M to improve electricity access for sub-Saharan African cities  

By Editor - Fri Aug 05, 12:55 am

Sub-Saharan Africa’s share of the global population without access to electricity stood at 77% in 2020, according to reports . Also, the average daily electricity supply in some of Africa’s largest cities is less than 12 hours. As a result, individuals and businesses find other options and substitutes, such as generators, to deal with their power issues; however, these solutions can either be costly to use or affect the climate. While solar grids and panels are another viable option and have compelling use cases for end consumers, there’s still an opportunity to launch products targeted at power distribution companies, and that’s where Beacon Power Services (BPS) plays. The energy tech company, which provides data and grid management solutions to help Africa’s power sector distribute electricity more efficiently, is announcing today that it has closed a seed round of $2.7 million. Founder and chief executive officer Bimbola Adisa , an aerospace engineer, started the company in 2014 after working several years for a power turbine manufacturer and as an investment banker covering the power sector in the U.S. For the latter, most of his clients included electric utilities, service providers and manufacturers

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Beacon Power Services raises $2.7M to improve electricity access for sub-Saharan African cities

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