Shyft Power Solutions, a pioneering Nigerian company specializing in digital energy solutions, has been acquired by SteamaCo, a UK-based leader in energy revenue management. This strategic acquisition aims to revolutionize Africa’s energy sector and has also brought in new funding to support its initiatives.
Shyft Power Solutions is renowned for its innovative Internet of Things (IoT) hardware and integrated software designed to intelligently manage energy services. The company offers a range of solutions, from turnkey metering systems to patented monitoring and control technologies, all dedicated to providing exceptional energy experiences and addressing real-world energy challenges.
SteamaCo, an Anglo-African technology company, empowers energy providers to deliver reliable, productive, and affordable power to communities in emerging markets. The merger between Shyft and SteamaCo coincides with a new funding round led by Equator VC, with additional participation from Praetura Ventures and KawiSafi Ventures.
Our vision extends beyond delivering cutting-edge technology; it’s about transforming the energy experience for power providers and their consumers. Together with our customers, we can bypass inefficient grids and build more intelligent, resilient infrastructure. Power is crucial for economic advancement and the development of sustainable cities, so driving digital transformation with our solutions is part of our broader commitment to enabling smart cities and sustainable communities.
Ugwem Eneyo, CEO of Shyft Power Solutions
Tom Parkison, Managing Director of SteamaCo, expressed that the merger significantly enhances his company’s capacity to expand in African markets.
By combining our advanced metering technology with Shyft’s local expertise, we can better meet our customers’ specific needs. Together, we will foster innovation, improve our services, and provide effective, customized solutions to Africa’s energy challenges.
