Solar King acquires PayGo Power to spice up entry to clear cooking in Africa and Asia

Solar King, an off-grid vitality firm, has acquired PayGo Power, a pay-as-you-go know-how innovator for clear cooking to allow households in Africa and Asia transition from  utilizing wooden and charcoal  to cleaner and safer choices.

The acquisition which follows $330 million  Sequence-D funding spherical  is a part of the corporate’s plan to develop its pay-as-you-go photo voltaic product line and distribution community.

“Swapping wood-based cooking gasoline for virtually any fashionable different — whether or not or not it’s biogas, electrical energy, ethanol, LPG or photo voltaic — dramatically reduces greenhouse gasoline emissions, protects households’ respiratory well being and preserves forests and biodiversity. We have to take an all-hands-on-deck strategy to phasing out non-renewable wooden gasoline in home cooking,” stated Nick Quintong, CEO of PayGo Power and now head of Solar King’s Clear Cooking Crew.

“We’re thrilled to welcome the PayGo Power workforce into the Solar King fold,” says T. Patrick Walsh, Co-Founder and CEO of Solar King. “By merging PayGo’s clear cooking product and software program experience with Solar King’s {hardware} and manufacturing know-how and our confirmed distribution channels, underpinned by Solar King’s 23,000 subject brokers, we hope to ship fashionable, reasonably priced cooking home equipment and vitality to households dwelling throughout Africa and Asia.” 

Solar King plans to develop a spread of fresh cooking merchandise that shall be powered by photo voltaic vitality, LPG, electrical grids, and different vitality sources.

The corporate is  additionally introducing extra highly effective off-grid photo voltaic know-how and increasing its presence to extra African nations.

Along with that,the corporate additionally  desires to supply client financing companies, permitting African and Asian prospects to pay for vitality and gear in small, reasonably priced instalments.

It’s newly established Clear Cooking Crew will work on creating quite a lot of clear cooking services and products that mirror the varied cooking practices and accessible vitality provides of their prospects.

As a part of the deal,PayGo Power’s workforce of 40 staff will even be part of the corporate and use their experience in pioneering finance, know-how, and distribution options to scrub cooking challenges.

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