BBOXX/TRAFIGURA
Bboxx , a next generation utility, is partnering with Trafigura, one of the world’s leading independent commodity trading companies, to accelerate progress on meeting United Nations Sustainable Development Goal 7 (UN SDG 7) – clean energy for all – in Africa.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210204005113/en/
Bboxx manufactures, distributes and finances decentralised solar powered systems in developing countries, operating across Africa and Asia, and in the ten years since Bboxx was founded, it has positively impacted over one million people through clean energy. Trafigura’s minority equity investment comes as Bboxx embarks on the next phase of its growth and accelerates its clean cooking commitments – a key part of tackling energy poverty and meeting UN SDG 7.
Inaction on the clean cooking crisis is costing the world over $2.4 trillion each year*. The use of charcoal and wood result in significant emissions of greenhouse gases and black soot, as well as deforestation. The lack of modern cooking solutions also has negative health and gender equality consequences, and results in lost economic opportunities. Access to modern clean cooking services using Liquefied Petroleum Gas (LPG) is significantly cleaner and a vital step in the energy transition to low and zero-carbon sources.
This landmark agreement brings together complementary expertise to fast-track progress on clean cooking access in Africa. Bboxx’s innovative Internet of Things (IoT) technology and experience from its established Pay-As-You-Go (PAYG) Solar Home Systems business, are all needed to deliver clean cooking in a scalable and distributed model. Bboxx has been applying this expertise to PAYG LPG clean cooking through pilots in the Democratic Republic of Congo (DRC), Rwanda and Kenya. It has been ramping up efforts in the DRC after receiving funding from USAID to roll out a PAYG LPG clean cooking access programme.
As a global leader in LPG, Trafigura will play a major role in the future supply growth of LPG across Africa. Trafigura has recently set targets to reduce its operational greenhouse gas emissions and is committed to accelerating the energy transition through its Power and Renewables division, which is investing in renewable energy projects and building a portfolio of investments in innovative renewable technology firms.
Mansoor Hamayun, CEO and Co-Founder of Bboxx commented : “We are committed to tackling energy poverty in all its forms – and it is unacceptable that in 2021 billions of people still live without access to clean cooking facilities. The world is still a long way off meeting UN SDG 7 – clean energy for all – and by forging partnerships and working with major global firms like Trafigura, we can turbocharge progress to unlock potential and transform even more lives for the better.”
James Josling, Head of Africa Energy Trading for Trafigura said : “Trafigura’s investment in Bboxx forms part of our strategy to continue to develop markets for LPG as a lower carbon fuel for clean cooking. Bboxx’s innovative business models and proven expertise in providing renewable energy services make it an ideal company to collaborate with and an attractive investment for Trafigura.”
ENDS
Notes to editors
Source:
* World Bank, Nearly Half the World’s Population Still Lacks Access to Modern Energy Cooking Services , 24 September 2020
About Bboxx
Bboxx is a next generation utility, transforming lives and unlocking potential through access to energy. Bboxx manufactures, distributes and finances decentralised solar powered systems in developing countries. It is scaling through forging strategic partnerships and its innovative technology Bboxx Pulse®, a comprehensive management platform using IoT technology. Through affordable, reliable, and clean utility provision, Bboxx is bringing people into the digital economy, creating new markets, and enabling economic development in off-grid communities and those living without a reliable grid connection. The company is positively impacting the lives of more than one million people with its products and services in over 35 markets, directly contributing to 11 of the 17 United Nations Sustainable Development Goals.
So far, Bboxx has deployed more than 350,000 solar home systems. Bboxx has over 800 staff across nine offices including in the Democratic Republic of Congo, Kenya, Rwanda, and Togo, with its head office in the UK and its manufacturing operations in China. In 2019, Bboxx was the winner of the Zayed Sustainability Prize in the Energy category – testament to the way the company is making a meaningful difference to people’s lives around the world. You can find further information about Bboxx on its website at – https://www.bboxx.com/
About Trafigura
Founded in 1993, Trafigura is one of the largest physical commodities trading groups in the world. Trafigura sources, stores, transports and delivers a range of raw materials (including oil and refined products and metals and minerals) to clients around the world and has recently established a power and renewables trading division.
The trading business is supported by industrial and financial assets, including a majority ownership of global zinc and lead producer Nyrstar which has mining, smelting and other operations located in Europe, Americas and Australia; a significant shareholding in global oil products storage and distribution company Puma Energy; global terminals, warehousing and logistics operator Impala Terminals; Trafigura's Mining Group; and Galena Asset Management. With circa 850 shareholders, Trafigura is owned by its employees.
Over 8,500 employees work in 48 countries around the world. Trafigura has achieved substantial growth over recent years, growing revenue from USD12 billion in 2003 to USD147 billion in 2020. The Group has been connecting its customers to the global economy for more than two decades, growing prosperity by advancing trade. Visit: https://www.trafigura.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20210204005113/en/
Link:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Network Failures Cost $5M A Year for More Than a Quarter of Global Businesses, According to Expereo1.7.2025 10:00:00 CEST | Press release
Half of global businesses have been forced to urgently re-evaluate their tech infrastructure following a wave of high-profile IT outages Network instability is taking a serious toll on global businesses, with over a quarter (28%) reporting revenue losses of up to $5 million due to network outages or poor performance. Alarmingly, an additional 23% have experienced losses exceeding $5 million. These findings come from an IDC InfoBrief commissioned by Expereo, titled “Enterprise Horizons 2025: Technology Leaders Priorities: Achieving Digital Agility.” Following a series of high-profile IT disruptions over the past year, ranging from cybersecurity breaches to connectivity failures, nearly half (49%) of global businesses have been compelled to re-evaluate their technology infrastructure, and 40% of global tech leaders say it’s caused networking and connectivity to rise higher up the C-suite agenda. Perhaps as a result, networking/connectivity now comes out on top in terms of the technologie
Record Financing for NeXtWind: €1.4 Billion for the Expansion of Wind Energy in Germany1.7.2025 09:52:00 CEST | Press release
Innovative platform financing enables debt investments in renewable energy on an unprecedented scale NeXtWind plans to quadruple the capacity of more than half of its 37 wind farms by 2028 as part of an increase of its total generation capacity to 3 GW Lars B. Meyer, Co-CEO of NeXtWind, said: “Thanks to this novel platform approach, we can optimize our wind farms more quickly and accelerate our growth. In the long term, we aim to transform them into state-of-the-art, integrated clean energy hubs.” NeXtWind, a leading renewable energy company, has secured €1.4 billion in debt financing. The agreement also includes an additional €1.3 billion in so-called accordion facilities, which can be activated in tranches over the coming years. This syndicated loan is the largest of its kind for an independent wind energy provider in Germany, and it opens the onshore wind market to debt investments from major financial institutions both domestically and internationally. NeXtWind will use the new fin
Celero Ventures Opens $25 Million Early-Stage Fund to Investors Backing the Next Generation of European Software Companies1.7.2025 09:30:00 CEST | Press release
Celero Ventures, a new venture capital firm founded by experienced software operators Dave Wyatt and Nick Cochran, is now raising its debut $25 million fund to invest in early-stage startups across the UK and Europe. The fund, which is already 25% subscribed, targets pre-seed and seed-stage companies building next-generation AI and data infrastructure. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250701820933/en/ Nick Cochran and David Wyatt (right) Founders of Celero Ventures Based in London, Celero Ventures is inviting limited partners (LPs) to join its mission of backing exceptional technical founders and accelerating their path to product-market fit and scalable growth. Wyatt and Cochran bring a rare combination of deep go-to-market (GTM) experience and startup leadership. Together, they helped scale both MuleSoft and Databricks—two of the most successful enterprise software companies of the past decade. Their experien
3GPP MCX Standards-Based Hytera HyTalk MC 6.0 Released Globally1.7.2025 09:00:00 CEST | Press release
Hytera, a leading global provider of professional communications technologies and solutions, announced the worldwide release of Hytera HyTalk MC 6.0, its new-generation broadband mission-critical communication platform fully compliant with the 3GPP MCX standard Release 18. As a key part of Hytera’s convergence-native communications strategy, it delivers inclusive, efficient and secure communication over LTE cellular network. Hytera HyTalk MC 6.0 leverages 3GPP standard interfaces and Hytera’s proprietary protocols to enable deep interworking across different technologies and vendors. It enables real-time mapping between the signaling of 3GPP MCX and Hytera DMR, and interconnects with HyteraTETRA systems, allowing a smooth migration path to data-rich communications for mission- and business-critical institutions and users. Hytera DMR or TETRA two-way radios can communicate with LTE/5G terminals through the Hytera HyTalk MC platform in a hybrid network. The Ad-Hoc Temporary Group Call fe
Lyten Acquires Europe’s Largest Battery Energy Storage Systems Manufacturing Operation from Northvolt1.7.2025 09:00:00 CEST | Press release
Lyten will take full ownership of Northvolt Dwa ESS, Europe’s largest energy storage systems manufacturing operation, located in Gdansk, Poland. Lyten intends to immediately restart production in Gdansk to resume sales of battery energy storage systems (BESS) and is expanding its product line to include the world’s first BESS powered by lithium-sulfur batteries. This complements Lyten’s previously announced acquisition of Northvolt’s lithium-metal cell manufacturing facility in Silicon Valley to scale its lithium-sulfur battery production. Lyten, the supermaterial applications company and global leader in lithium-sulfur batteries, announced today the acquisition of Northvolt’s Dwa ESS operations in Gdansk, Poland, a 25,000 square meter (270,000 sq ft) battery energy storage systems (BESS) manufacturing and R&D facility. Northvolt Dwa ESS is the largest BESS manufacturing facility in Europe and was part of Northvolt Systems. The financial terms of the acquisition are not being released
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom