Hydrobox Secures $9M for Kenya Projects

November 26, 2024 • Estimated Reading Time: 2 minutes

Key Figures & Findings: Hydrobox, a Belgian-Kenyan company focused on developing and deploying innovative, containerized hydropower plants, has raised $9 million in debt funding, with support from FMO, the Dutch entrepreneurial development bank, and ElectriFI, an EU-backed clean energy initiative. The funding aims to enable Hydrobox to develop eight small hydro projects across four mini-grids, expanding access to reliable, renewable energy for underserved areas. The startup, renowned for its modular, containerized hydropower plants, focuses on providing affordable electricity to households, businesses, and anchor institutions such as schools and hospitals. These IoT-enabled systems ensure efficient monitoring and reduce operational downtime.

Statistics & Insights: The investment aims to provide clean electricity to over 2,582 households, benefiting 10,000 individuals. Each project integrates locally sourced river energy, reduces dependency on fossil fuels, and cuts carbon emissions, addressing Africa's broader energy and environmental challenge

Future Implications: These projects could catalyze further investment in decentralized renewable energy solutions, significantly improving energy access in Kenya.