New York, NY (February 13, 2018) — Acumen, the nonprofit global venture fund, and Gaia Impact Fund, a venture fund specializing in clean energy, announced today their investment in Azimuth (trading as Easy Solar), a pay-as-you-go solar distribution company operating in Sierra Leone. Easy Solar is the second investment under Acumen’s Pioneer Energy Investment Initiative, an effort to bridge the funding gap in off-grid energy and accelerate access across the developing world. Launched in April 2017, the initiative aims to impact 8 million lives by 2026.
Easy Solar is making clean energy affordable to those underserved by the grid by offering solar-powered devices on a rent-to-own financing structure. More than 87 percent of Sierra Leone’s 6.4 million people live without electricity and, in the country’s rural communities, only one percent have access. To serve these populations, the company tapped into the Sierra Leone Energy Revolution following the government’s commitment to nationwide energy access by 2025.
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