AMMP Technologies secured a funding round in mid-May from a consortium of angel investors. This funding will allow for the company to further accelerate growth in sub-Saharan Africa and beyond.
As Dr. Svet Bajlekov, co-founder and CEO puts it: “We’ve seen first-hand how connectivity and access to data-enabled services can really power growth in off-grid energy. At AMMP we work with one of the most comprehensive data sets in the sector, and can see this adding value not just in technical operations but across the value chain. We are excited to be at the forefront of the energy transition in some of the world’s most dynamic markets!”
AMMP Technologies works with off-grid energy companies to help advance their operational and commercial objectives. As a basis, AMMP enables clients to streamline their technical operations and reduce the costs of working in challenging and remote environments. In addition, the solution enables innovative business models in the fast-growing energy service space.
The team behind AMMP builds on a rich set of experiences in the off-grid sector. The founding team began their work together at Rafiki Power, a former E.ON company, deploying and operating mini-grids for rural electrification in Africa. Having experienced first-hand the challenges of operating off-grid energy systems in remote environments, they saw huge potential value in bringing together operational data across multiple vendors, technologies, and locations onto a unified platform.
The new investor team brings on board highly distinguished expertise in smart energy, utilities, telecom, scaling start-ups, and emerging markets.
One of the investors, Peter Molengraaf, former CEO of the Dutch distribution grid operator Alliander, summarizes his reasoning: “A few years ago I met the late Kofi Annan, and got a question from him: ‘To how many people, that do not have regular access to electricity, did you bring electricity last year?’ At that time I didn’t have a good answer. Today, I can see how this investment will help enable off-grid electrification in many parts of the world. AMMP are tackling a core aspect of the sector’s challenges, with a team that’s been in the trenches.”