Electrifi's Investment in Husk Power Systems: Empowering Rural India with Clean Energy Access
May 10, 2024, 3:26 pm
Location: United States, Colorado, Fort Collins
Employees: 201-500
Founded date: 2008
Total raised: $147.2M
In a significant move towards advancing clean energy access in rural India, Electrifi has recently announced a $4 million investment in Husk Power Systems. This strategic funding infusion is poised to catalyze the expansion of Husk's decentralized solar-hybrid mini-grids, ultimately leading to the provision of reliable electricity to remote communities and small enterprises across the region.
The decision to double down on Husk Power Systems underscores Electrifi's unwavering commitment to supporting impactful businesses that drive positive change in emerging markets. By extending their financial backing to Husk, Electrifi is not only bolstering the company's efforts to enhance clean energy access but also validating the efficacy of Husk's innovative business model.
The impact of Electrifi's initial investment of $6 million in September 2022 has been palpable, with Husk leveraging these funds to implement solar microgrids that have illuminated 80 communities hitherto devoid of electricity. The subsequent $4 million investment is expected to further accelerate Husk's mission to provide sustainable and affordable energy solutions to underserved populations in India.
Manoj Sinha, the Co-Founder and CEO of Husk, expressed gratitude for the continued support from Electrifi, highlighting the pivotal role of the $10 million investment from EDFI Management Company in enabling Husk to broaden its mini-grid footprint in India. Sinha emphasized that this financial backing would significantly amplify the positive impact of Husk's operations on the lives and livelihoods of thousands of individuals in rural India.
Rodrigo Madrazo, the CEO of EDFI Management Company, commended the fruitful partnership with Husk, noting that their initial investment had not only provided essential capital but also validated Husk's business model, attracting additional investments totaling $43 million in a Series D funding round. This collaborative success story serves as a testament to Electrifi's role in fostering innovation and unlocking commercial financing for clean energy solutions in emerging markets.
Husk Power Systems has emerged as a trailblazer in delivering reliable and clean electricity to communities, households, micro, small, and medium-sized enterprises in regions where grid connectivity is limited or unreliable. The company's innovative approach to energy provision has garnered recognition, with Husk being named one of Fast Company's 50 Most Innovative Companies in the World.
Corentin Billiet, Senior Investment Manager at EDFI Management Company, praised Husk's exceptional track record in providing clean energy solutions to remote communities, expressing confidence that the additional investment would empower Husk to extend its reach and create a lasting positive impact in rural India.
In conclusion, Electrifi's continued investment in Husk Power Systems signifies a transformative partnership aimed at driving sustainable development and economic growth in rural India. Through their collaborative efforts, Electrifi and Husk are poised to revolutionize clean energy access, empowering communities and businesses with a reliable and renewable source of power.
The decision to double down on Husk Power Systems underscores Electrifi's unwavering commitment to supporting impactful businesses that drive positive change in emerging markets. By extending their financial backing to Husk, Electrifi is not only bolstering the company's efforts to enhance clean energy access but also validating the efficacy of Husk's innovative business model.
The impact of Electrifi's initial investment of $6 million in September 2022 has been palpable, with Husk leveraging these funds to implement solar microgrids that have illuminated 80 communities hitherto devoid of electricity. The subsequent $4 million investment is expected to further accelerate Husk's mission to provide sustainable and affordable energy solutions to underserved populations in India.
Manoj Sinha, the Co-Founder and CEO of Husk, expressed gratitude for the continued support from Electrifi, highlighting the pivotal role of the $10 million investment from EDFI Management Company in enabling Husk to broaden its mini-grid footprint in India. Sinha emphasized that this financial backing would significantly amplify the positive impact of Husk's operations on the lives and livelihoods of thousands of individuals in rural India.
Rodrigo Madrazo, the CEO of EDFI Management Company, commended the fruitful partnership with Husk, noting that their initial investment had not only provided essential capital but also validated Husk's business model, attracting additional investments totaling $43 million in a Series D funding round. This collaborative success story serves as a testament to Electrifi's role in fostering innovation and unlocking commercial financing for clean energy solutions in emerging markets.
Husk Power Systems has emerged as a trailblazer in delivering reliable and clean electricity to communities, households, micro, small, and medium-sized enterprises in regions where grid connectivity is limited or unreliable. The company's innovative approach to energy provision has garnered recognition, with Husk being named one of Fast Company's 50 Most Innovative Companies in the World.
Corentin Billiet, Senior Investment Manager at EDFI Management Company, praised Husk's exceptional track record in providing clean energy solutions to remote communities, expressing confidence that the additional investment would empower Husk to extend its reach and create a lasting positive impact in rural India.
In conclusion, Electrifi's continued investment in Husk Power Systems signifies a transformative partnership aimed at driving sustainable development and economic growth in rural India. Through their collaborative efforts, Electrifi and Husk are poised to revolutionize clean energy access, empowering communities and businesses with a reliable and renewable source of power.