Latest raise gives Spark a multi-million dollar boost in growth capital, fueling expansion into the energy access market.
Press Release in English
Latest raise gives Spark a multi-million dollar boost in growth capital, fueling expansion into the energy access market.
Press Release in EnglishSpark is scaling up. Since 2019, we have sold over 20,000 energy kits across Sub-Saharan Africa. With fresh capital from BOM Brabant Ventures, YARD ENERGY Investments and DOEN Participations, Spark is strengthened to take the next step in achieving and improving rural electrification. The capital enables our company to grow, expand into new geographic markets and further innovate our modular energy solution.
Since Spark was founded in 2013, we have put energy access at the heart of our business model. We know that electricity sparks opportunity. It is crucial to enable economic development for approximately 580 million people in Africa. Our energy kit and supporting ecosystem delivers reliable, solar-powered electricity and appliances to service this need.
Our solution consists of smart battery packs, connected to solar panels and a range of appliances including lamps, fans and TVs. It is supported by, among others, Spark’s service and payment platform, and financing program for local partners. Our kits are modular which means they can be continually scaled-up to power a growing range of appliances for productive use.
“Access to electricity is essential to local economic development”, says Harmen van Heist, co-founder of Spark. “By smartly linking kits, we continue to increase the power and capacity of the kit. By connecting kits to each other, we create energy-networks: simple and future-proof.”
“We’re glad to have the new investors on board. The financial means that allow for growth and development, knowledge of the market and product development will be invaluable to ensure Spark’s capacity to connect a growing number of people to electricity.”
BOM Brabant Ventures
Together with entrepreneurs, the BOM (Brabantse Ontwikkelings Maatschappij) builds a strong, sustainable and future proof economy in the Province of Noord-Brabant, the Netherlands.
With knowledge and capital, their label Brabent Ventrures focusses on the accelerated, future-proof growth of ambitious start-ups and scale-ups in the top sectors High-Tech Systems and Software, Agrifood, Life Sciences & Health, Maintenance, Supply Chain and Biobased Economy.
www.bom.nl
Yard Energy
YARD ENERGY is one of the largest private developers and investors in wind energy in the Netherlands and has realized more than 400 MW of onshore wind projects in the Netherlands, Finland and Poland. In addition to its own realized projects, YARD ENERGY invests strategically in companies and projects with a focus on the energy transition. To this end, YARD selects initiatives in the Netherlands and initiatives across the border in which Dutch companies are involved.
www.yardenergy.com
DOEN Participations
DOEN Participations has the ambition for a greener and more social world. That is why impact is central to all investments. Over the past 25 years, DOEN Participations has grown into the largest impact investor in sustainable and social startups in the Netherlands. DOEN Participations invests in early phase companies and can to take risks. DOEN Participations is fully owned and managed by the DOEN Foundation. The DOEN Foundation was founded by Charity Lotteries.
www.doenparticipaties.nl
