Sub-Saharan Africa's share of the global population without access to electricity stood at 77% in 2020, according to reports. Also, the average daily electricity supply in some of Africa's largest cities is less than 12 hours.
As a result, individuals and businesses find other options and substitutes, such as generators, to deal with their power issues; however, these solutions can either be costly to use or affect the climate.
While solar grids and panels are another viable option and have compelling use cases for end consumers, there's still an opportunity to launch products targeted at power distribution companies, and that's where Beacon Power Services (BPS) plays. The energy tech company, which provides data and grid management solutions to help Africa's power sector distribute electricity more efficiently, is announcing today that it has closed a seed round of $2.7 million.