Amped Innovation

Investment name: Amped Innovation

Publication date: 16 Oct 2020

Website: https://www.ampedinnovation.com

Total ElectriFI Financing: 3m USD (approx. 2.44m EUR)

Environmental and Social Category: B

(A) high risk, (B+) medium high risk, (B) medium risk or (C) low risk

Project overview:

Amped is a US-based company designing, manufacturing and supplying solar home systems equipment to distributors in frontier markets. Amped designs high efficiency, low cost solar home systems and appliances, with a specific focus on productive use equipment.

Funding objective:

EDFI ElectriFI 3m USD debt facility will fund the company’s working capital needs, allowing Amped to allocate its cash resources on general corporate purposes including the research and development.

Why ElectriFI wants to fund this project:

Amped’s innovative and affordable solar-powered appliances serve a growing demand for anergy access around in sub-Saharan Africa and around the world. By addressing the needs of low-income populations, the company is helping families move out of poverty by unlocking rural energy access.

Environmental and Social Rationale:

The transaction is category B with minimum social and environmental risks and potential negative impacts regarding triggered mainly in the supply chain. Policies and procedures are being developed and implemented to address these matters according to best industry practices.