Kenyan energy startup Hydrobox has successfully secured US$9 million in debt funding to support the development of eight small hydro projects across four mini-grids in Kenya. This initiative aims to provide reliable and affordable electricity to over 10,000 people and local businesses.
Hydrobox specializes in building, owning, and operating mini-grids in underserved regions. These mini-grids cater to a diverse range of clients, including anchor clients such as factories and farms, small businesses like schools, hospitals, shops, and restaurants, as well as households. The independent grids offer accessible and reliable power to these communities.
The company’s containerized hydro power plants are designed to lower construction costs, reduce production time, and facilitate deployment in hard-to-reach off-grid areas. Each unit is equipped with state-of-the-art IoT technology, allowing for remote monitoring and management, which maximizes efficiency and minimizes downtime.
Hydrobox has secured this strategic US$9 million debt investment from FMO, the Dutch entrepreneurial development bank, and EDFI Management Company, through ElectriFI, an EU impact investment facility focused on clean energy access in developing countries.
The investment will be used to support eight small hydro projects across four mini-grids, which are expected to provide electricity to approximately 2,582 households, benefiting over 10,000 individuals. These projects will deliver essential electricity to communities and businesses that need reliable and affordable power. By harnessing small local rivers, Hydrobox offers a sustainable, locally-sourced power solution that reduces dependency on fossil fuels, lowers carbon emissions, and supports job creation through close, on-the-ground service that ensures high-quality support.
Thomas Poelmans, CEO and co-founder of Hydrobox, expressed his gratitude and optimism about the partnership, stating;
Our partnership with reference investors FMO and ElectriFI serves as a quality label and recognition for the hard work our team has put in over the last few years. With strong partners on board and a substantial pipeline of upcoming projects in Kenya and the DRC, we are well-positioned to make a meaningful impact on energy access across Africa, aiming to reach 1,000,000 end-users by 2030. We thank everyone who has believed in and supported our journey.
