6 years ago

SteamaCo Secures €4.4 Million to Expand Microgrid Operations in Africa and Asia

  • SteamaCo, a UK-based company that provides utilities via micro grids in Africa and Asia, has raised €4.4 million in Series B funding

  • The funding was led by Praetura Ventures and Shell, with participation from existing shareholders

  • The investment will support the company's continued technology development and growth, enabling reliable electricity services for hundreds of thousands of previously underserved people across 10 countries.

      • ProblemTechnology Infrastructure

      "Two billion people have little or no access to electricity because utilities struggle to reach remote locations due to tough landscapes, unreliable infrastructure, and poor connectivity, making operations difficult and costly."

      Solution

      "SteamaCo uses smart metering technology to provide utilities via micro grids in Africa and Asia. Its technology uses less than 100kB of communications data per meter per month, enabling utilities to operate in previously unreachable locations."

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