Project Facts
Location
Nigeria
Lagos
Project Volume
500.000-1 Mio. EUR
Applied Financing Solutions
Grants, Blended Finance
Project Dates
Start: 2019
The Story
Reeddi innovatively provides clean, reliable and affordable electricity to households and businesses in the energy-poor regions of the world. The company aims to provide clean and reliable electricity that every African can afford. Its proprietary energy generation and distribution technology integrates smart data harvesting and analytics technology. Operating a hardware-as-a-service model through its proprietary technology ensures customers pay an affordable daily rental fee to easily access reliable electricity anytime and anywhere. As compared to existing energy solution, which include solar home system and diesel generators, its innovation eliminates the upfront cost barrier associated with accessing clean and reliable electricity in the target market. With the Reeddi Capsule, customers pay an affordable daily rental fee of $0.50 to access clean and reliable electricty for the whole day. Reeddi's energy systems reduce energy expenses of users by 30% and creates energy-based businesses and employment opportunities in its operating markets. A Reeddi Capsule displaces more than 160Kg CO2 and 6 Kg of toxic pollutant annually from existing fuel-based systems generally adopted in the target communities.
Success Factor | Hero Moment
Providing an energy-as-a-service model to low-income energy-poor communities in Nigeria, onboarding more than 30 local ambassadors that represent Reeddi in their local communities and serving over 3000 households and businesses monthly are major successes by Reeddi.
Submitter
Reeddi Technologies Limited, Nigeria
Contact Mail
hello@reeddi.com
Website
www.reeddi.com
