OffGridBox raises $1.6M to charge and hydrate rural Africa with its all-in-one installations

They’ve installed 38 boxes so far, some at their own expense and others with the help of backers. Each is about the size of a small shed — a section of a shipping container, with a scaffold on top to attach the solar cells. Inside are the necessary components for storing electricity and distributing it to dozens of rechargeable batteries and lights at a time, plus a water reservoir and purifier.

Each box costs about $15,000 to build, plus roughly another $10,000 to deliver and install. The business model has an investor or investors cover this initial cost, then receive a share of the revenue for the life of the box. At capacity usage this might take around two years, after which the revenue split shifts (from a negotiable initial split to 50/50); it’s a small, safe source of income for years to come. At around $10,000 of revenue per year per box with full utilization, the IRR is estimated at 15 percent.

Full article: Techcrunch

 


 

Print Friendly, PDF & Email