Kofa Technologies
Kofa Technologies, a prominent Ghanaian cleantech company, has secured $5 million in financing through a special purpose vehicle (SPV) to boost its clean energy initiatives. This funding will support the expansion of its portable battery solutions and battery-swapping network across Ghana, helping to drive the transition to cleaner, more reliable energy sources.
At a recent event, Kofa Technologies, in collaboration with PASH Global, announced its plans to grow its battery-swapping infrastructure. The $5 million funding includes a $3.13 million investment from the Shell Foundation, backed by the UK government through the Transforming Energy Access (TEA) platform. Additionally, both the Shell Foundation and TEA have committed an additional $1.87 million to support Kofa’s e-bike research efforts.
The expansion aims to deploy 6,000 batteries and establish up to 100 swap stations throughout Ghana. These stations will provide users with consistent access to portable energy solutions for electric two-wheelers and small-scale households. By expanding this infrastructure, Kofa Technologies seeks to ensure affordable and reliable clean energy for a growing number of users, ultimately advancing the country’s clean energy agenda.
In a bid to further enhance the environmental impact of this project, PASH Global has outlined plans to transition the battery swap stations to solar power in the near future. This will further reduce the carbon footprint of the energy stations and contribute to a more sustainable energy system in the region.
Bempah Owusu Bempah, CEO and founder of PASH Global, highlighted the significance of the partnership, stating, “The collaboration between Kofa and PASH marks a pivotal step in delivering sustainable energy solutions across Africa. With strong backing from the Shell Foundation and the UK government, we are well-positioned to lead the e-mobility revolution, starting with this transformative project in Ghana.”
The CEO of Kofa Technologies, Erik Nygard, echoed these sentiments, emphasizing the broader impact of the initiative. “This project represents a major step toward cleaner and more sustainable energy solutions in Ghana. With the support of our partners, we are not only benefiting local communities and businesses but also laying the groundwork for clean energy innovation across Africa.”
The funding also strengthens Kofa Technologies’ research and development capabilities, particularly in the area of e-bikes. The company is exploring ways to improve the efficiency and affordability of electric mobility solutions, which could have far-reaching implications for both urban and rural transportation in Ghana.
This initiative comes at a crucial time as Ghana seeks to address its energy challenges and reduce dependence on fossil fuels. By providing clean energy alternatives, Kofa Technologies is playing a key role in driving the country’s energy transition and contributing to its long-term sustainability goals.
Kofa’s efforts are part of a broader movement toward renewable energy solutions in Africa, where clean energy technologies are increasingly seen as essential for addressing both energy access and environmental concerns. The success of Kofa’s battery-swapping network could serve as a model for similar initiatives across the continent.
In the coming years, Kofa Technologies and its partners will continue to work on expanding their clean energy offerings, with the aim of creating a more sustainable energy ecosystem that benefits both consumers and the environment.
