Founded by 5 students in 2017, this renewable energy company in southeastern Nigeria makes solar inverters and charge controllers from locally-sourced materials (except for semiconductors). But the firm is not stopping there: eventually, Greenage Technologies wants to produce batteries for solar units.
On June 16 this year, Greenage received a $450,000 boost from All-On, a Shell-funded impact investment company, to enable it expand its manufacturing capabilities to meet growing demand. The funding, a mix of equity and convertible debt, comes 3 years after Greenage emerged as a winner in the USADF’s 2018 renewable energy competition. All-On’s earlier convertible debt is part of this new financing round, bringing the total to $500,000. Earlier in the firm’s journey, they had received early cheques from Genesys Tech Hub and Nigeria’s South South/South…