Four energy companies have won $10,000 start-up capital in the Nigeria Clean Energy Innovation Challenge, Co-Creation Hub said.
The firm, which made the announcement at its headquarters in Lagos recently, said the winners emerged after a rigorous selection process, challenging boot camp and engaging pitch competition.
The challenge aims at supporting renewable energy innovators in Nigeria and awarded the start-up capital to the firms namely Aspire, Hydrolite, Hydrotriciton and ZeroElectric.
Along with five other finalists, they will receive incubation support from Co-Creation Hub to grow their businesses.
In his remarks, Co-Creation Hub’s Director for Innovation, Femi Longe said, “With Nigeria’s increasing energy requirements to achieve its developmental goals, amidst the threat of climate change, there is a need to find and support our clean energy innovators to build successful and sustainable businesses.”
Speaking on the impact, All On CEO, Dr. Wiebe Boer said, “With our start-up capital and Co Creation Hub’s incubation expertise, we are hopeful that these companies will mature to become sustainable businesses.”
All On is an off grid energy impact investment company that works with partners to increase access to commercial energy products and services especially in the Niger Delta.
A statement by Co-Creation Hub said Hydrotriciton, a winner of $10,000 capital, developed a zero emission hydro generator. It’s CEO, Choji Bare said: “Our next step is to produce massively and launch into the market.”
Aspire uses solar energy, battery storage and smart inverters to monitor and deliver clean energy solutions to customers. ZeroElectric developed a climate controlled system that cools the environment with water in areas without electricity, while Hydrolite developed a home lighting system powered by water and is designed for off-grid communities. Its torches can last up to 2 weeks after contact with water.
