AFTER a rigorous selection process, challenging boot camp and engaging pitch competition, the winners of the Clean Energy Innovation Challenge were selected at the Co Creation Hub HQ in Yaba, Lagos on Friday.
The Clean Energy Innovation Challenge, with the aim of unearthing and supporting renewable energy innovators in Nigeria, awarded start-up capital to four early stage energy companies, namely Aspire, Hydrolite, Hydrotriciton and ZeroElectric.
In addition to startup capital, these companies and the five other finalists will receive top class incubation support from Co Creation Hub to take their ideation phase businesses to the next level.
Speaking on its involvement in the Clean Energy Innovation Challenge, 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 around their solutions.
We are pleased to be working with All On on such a lofty agenda and look forward to supporting all the innovators to test and scale their ventures.”
The Clean Energy Innovation Challenge will enable All On to further its mandate of supporting innovative models to improve energy access to unserved and underserved segments of the Nigerian population.
Speaking on the impact of the challenge, All On CEO, Dr. Wiebe Boer stated: “The quality of applications received and the winners selected for the Clean Energy Innovation Challenge are a demonstration of the potential that exists in the renewable energy sector in Nigeria. With our start-up capital and Co Creation Hub’s incubation expertise, we are hopeful that these companies will mature to become sustainable businesses, employers of labor and on track for exponential growth to address the access to energy challenges that exist in the country.”
All On is an off grid energy impact investment company that works with partners to increase access to commercial energy products and services for under-served and un-served off-grid energy markets in Nigeria, with a special focus on the Niger Delta.
One of the winners of the $10, 000 startup capital was Jos based Hydrotriciton, a company that has developed a zero emissions electricity generator that runs completely on water.
Commenting on their selection, CEO Choji Bare stated: “To have won this competition will really spur our growth. Our next step is to produce massively and launch into the market.”
Another winner, Aspire, uses solar energy, battery storage and smart inverters to monitor solutions and deliver clean energy solutions to customers.
ZeroELectric has developed a climate controlled system that cools the environment with water in areas without electricity.
Hydrolite has developed a home lighting system powered purely by water and is designed for off-grid communities.
All On is an impact investing company established to stimulate the development of collaborative partnerships for innovative solutions that facilitate increased access to affordable, reliable and sustainable energy sources in Nigeria.