New Energy Nexus and ENVenture Merge to Scale Clean Energy Businesses in Uganda
November 4, 2019
NTINDA, KAMPALA (NOVEMBER 4, 2019) – New Energy Nexus and ENVenture are merging to form New Energy Nexus Uganda. The merger will leverage the New Energy Nexus network of funds and accelerators to strengthen the development of grassroots organizations and small to medium enterprises, providing clean energy solutions to local communities in East Africa.
To date, ENVenture has supported almost 100 enterprises providing 87,000 people with access to clean energy products, such as solar systems, improved cook stoves, briquettes and non-electric water filters. The switch from traditional to modern fuels has saved the beneficiaries a total of $2.8 million.
“We are big believers in local teams making changes that have a global significance and ENVenture’s extremely successful model in Uganda embodies everything New Energy Nexus stands for,” says Danny Kennedy, CEO of New Energy Nexus. “Together, we can learn from one another and strengthen the clean energy ecosystem.”
In Uganda, ENVenture bridges the gap between last-mile entrepreneurs and cleantech manufacturers who are unable to tackle remote areas. It is a social enterprise that incubates and accelerates sustainable energy businesses through partnerships with community based organizations (CBOs). The partnership provides CBOs with a toolkit comprising of a clean energy seed loan, a business mentor, training and ENVision – a mobile bookkeeping app.
“This is a pivotal time for ENVenture, we have accumulated a wealth of expertise on last mile clean energy distribution. Our merger with New Energy Nexus will give ENVenture the tools to replicate our award-winning model in new markets and to scale further within Uganda,” says Aneri Pradhan, Founder and Executive Director of ENVenture. Aneri also joins the board at New Energy Nexus alongside other clean energy leaders including Julie Blunden, Ian Rogoff and Fran Pavley.
New Energy Nexus will include ENVenture in its diverse line up of programmatic solutions and integrate best practices in Uganda and across the East Africa region. The merger promises to scale existing incubation and acceleration programs.
New Energy Nexus
New Energy Nexus is a non-profit international organization that supports clean energy entrepreneurs with funds, accelerators and networks. We started in California and now operate programs in New York, China, India, Southeast Asia and East Africa.
More information at www.newenergynexus.com.
ENVenture is a social enterprise that is building out the ecosystem in the last mile for clean energy access through financing, capacity building and mobile technology.
More information at www.enventureenterprises.org.