Kenyan-based technology company in solar water pumps and irrigation solutions for small holder farmers ‘SunCulture’ has closed an investment round with the EDF Group, one of the world’s largest electric utility companies and a global leader in low-carbon energy.
EDF joins SunCulture’s existing institutional investors like the Energy Access Ventures and Partners Group.
SunCulture will open up the East African market for EDF to expand the impact of its off-grid solutions across the continent. SunCulture’s deep understanding of smallholder farmers’ needs will provide invaluable data for EDF to develop its off-grid offering into the agriculture space.
EDF is already selling off-grid household technologies in Côte d’Ivoire, Ghana and Senegal.
“Our ambition is to become SunCulture’s partner of reference in their expansion beyond Kenya, especially in countries where EDF already has a strong footprint”, said Marianne Laigneau, Senior Executive Vice-President in charge of the International Division at EDF.
EDF will share its experience selling and installing off-grid solutions designed for residential customers and its knowledge of Central and West African markets with SunCulture. The firm will also assist in setting up financing vehicles designed to help farmers afford these solar irrigation solutions under SunCulture’s Pay-As-You-Grow platform.
“EDF’s investment will finance SunCulture’s plans to scale up and reach millions of customers by continent-wide distribution and introducing credit. EDF brings much more than just money, though. A shared philosophy and commitment to work closely and cooperatively together, access to deep knowhow within EDF, and the opening to us of their extensive contact network, will all significantly increase the probability of success for SunCulture.” Andrew Reicher, SunCulture’s Board Chair.
