Bamboo Capital Partners, a private equity firm delivering positive social and financial value, and BBOXX, a next generation utility have launched BEAM to initially deploy USD$50 million in equity for distributed energy service companies (DESCOs) and will unlock further debt capital in sub-Saharan Africa and Asia.
BEAM starts with a first equity investment in BBOXX and its data-driven DESCOs, providing off-grid energy to consumers in Africa and Asia, to scale and generate greater impact in their respective markets. In addition to the equity capital from BEAM, the investment platform will catalyse further capital through debt, joint ventures and co-investments.
According to Jean-Philippe de Schrevel, Founder at Bamboo Capital Partners, “BEAM will catalyse substantial investment into off-grid energy access initiatives across the developing world. By drawing in and encouraging further capital via joint ventures, debt and co-investments, we have a bold and ambitious vision of providing millions more with access to energy to improve their everyday lives.
With some 1.1 billion people across the world without access to reliable energy, BEAM aims to play an instrumental role in delivering energy services to transform lives in the developing world. BEAM aims to aid the growth of an array of off-grid energy service companies, spanning solar home systems, large solar, and metering applications such as pumps and mini-grids.
BEAM will initially focus on ten countries then scale across continents. Partnering through BEAM will enable distributed energy service companies to benefit from BBOXX’s data-driven smart technology to improve operational efficiency and enhance customer service.
This includes Pulse, a cloud-based task management platform, which enables distributed businesses to improve efficiency. Pulse digitalises a business’ entire sales and service management, automating tasks for sales agents, technicians, call centres and its supply chain. For example, Pulse uses product monitoring to predict failure and allow the operational team to proactively support customers, automatically schedules field staff tasks, and understands what type of customer is most likely to default.
Mansoor Hamayun, Chief Executive Officer of BBOXX said, “BEAM solves two key market failures to scale DESCOs across the developing world – firstly, access to equity before debt becomes viable, and secondly it allows to drive disaggregation in what has been a vertical integrated model – both essential to scale.
BBOX says BEAM will allow it to take its successful model in Rwanda and Kenya and expand it across Africa and Asia by solving a key financial challenge.