The Powering Renewable Energy Opportunities (PREO) programme has committed over £2 million (Sh370m) in catalytic grant funding for its fourth round, supporting diverse innovative business models across sub-Saharan Africa.

Fourteen companies have been selected through a competitive open call, each focused on harnessing clean energy and driving a just, inclusive energy transition throughout the region.

This latest round of funding builds on a wider package of support that PREO has committed since its inception, having awarded over Sh999m to 34 companies across 11 sub-Saharan African countries, creating 467 jobs.

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The programme is backed by the IKEA Foundation and UK aid via the Transforming Energy Access (TEA) platform, in partnership with the Carbon Trust and Mercy Corps’ Energy 4 Impact.

Programme Manager at the IKEA Foundation said Richa Goyal the grant reaffirms PREO role as the only dedicated platform for testing business models that focus on the productive use of renewable energy.

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“The selected innovations have the potential to transform sectors by delivering first time clean energy access to businesses and institutions.”

PREO Programme Lead at the Carbon Trust Rhiannon Turner said the new programme will help create and improve the livelihoods sub-Saharan African people.

“We are excited to announce the latest line-up of new companies to be supported over the next phase of PREO. As demonstrated by the breadth of sectors and technologies represented there is an enormous opportunity to prove the viability of business models that will help drive income creation and improve livelihoods in sub-Saharan Africa.”

More than 240 applications meeting the call’s core criteria were submitted from 29 countries, equating to a total funding request 17 times greater than was available.

This response underlines the substantial demand for funding to support and scale innovative business models that drive the adoption of renewable energy solutions.

With each company receiving between Sh14.5bn (£86,000) and Sh39.9bn (£237,000) across 1-2 years, along with technical support, PREO is supporting the development of business models that showcase the viability of Productive Use of Renewable Energy (PURE) in agri-processing, cooling, solar irrigation, e-waste recycling, e-mobility, healthcare, and education.

Highlighted initiatives in this phase include Simusolar, a Ugandan supplier of solar-powered agricultural equipment, AG Energies, offering a battery-swapping service for electric tuk-tuks and motorcycles in Tanzania, Jokosun which provides hubs for charging and distributing batteries for electric boats in Senegal and SLS Energy that is implementing an ‘Irrigation-as-a-Service’ model with rechargeable battery packs and electric pumps for smallholder farmers.

Others are Farm Warehouse, piloting an e-commerce application for processed products from smallholder farmers, Chaji which installs fast EV chargers in commercial centres and develops financing options for electric three-wheelers in Nairobi and Mombasa, Hinckley E-Waste which develop second-life batteries to power telecom towers and ICE Solar that provides rooftop solar solutions to Micro, Small, and Medium Enterprises in Nigeria.

Drop Access, which introduces VacciBox to market, a solar-powered cooling service for health facilities in Kenya, Acele Africa that repurposes 125,000 discarded lithium cells into second-life batteries for solar applications, Strathmore University that is working with its spin-out company Evonet to validate Sunsafe, a mobile app designed to address inaccurate solar system sizing in rural Kenya, Mazi Mobility that is conducting a study on battery swapping Ecobora, implementing a Cooking-as-a-Service model and installing solar-powered cooking boilers in schools to replace firewood and Inter Ethiopia Solutions that enhances access to renewable energy are also part of the list.

This phase of PREO funding aligns with a broader mission to foster climate resilience, economic development, and job creation in sub-Saharan Africa.

By taking strategic risks on innovative companies, PREO not only scales impactful initiatives but enables businesses to leverage clean energy technologies, improve livelihoods, and reduce dependency on fossil fuels.