<p class="wp-block-paragraph">BBOXX, a next
generation utility, transforming lives and unlocking potential through the
provision of affordable, reliable and clean energy and other modern utilities,
has successfully closed a $50 million Series D funding round, a statement from
BBOXX Press Office, available to OpenLife reveals.</p>



<p class="wp-block-paragraph"> ;The financial milestone includes a substantial
investment from Mitsubishi Corporation, a global integrated business enterprise
headquartered in Japan, which led the round. </p>



<p class="wp-block-paragraph"> ;The cash injection will further enable BBOXX’s
international expansion and fuel its mission to use technology to unlock
potential and transform millions of lives worldwide.</p>



<p class="wp-block-paragraph"> ;BBOXX has positively impacted nearly one million
people to date through access to pay-as-you-go (PAYG) solar energy ;using
mobile money. ;The company has installed 200,000 ;solar home systems
(SHS) which are remotely monitored via BBOXX ;Pulse™. This digital platform
harnesses Internet of Things technology and data ;to ;provide utilities
at a large scale. BBOXX has replicated this model to provide clean cooking
solutions using LPG with ambitions to deliver other utilities and products in
new markets.</p>



<p class="wp-block-paragraph"> ;The investment from Mitsubishi Corporation will
help drive BBOXX’s growth across Africa, where it currently operates in 12
countries, as well as in Asia.</p>



<p class="wp-block-paragraph"> ;Mansoor Hamayun, CEO and Co-founder, BBOXX,
said: ;“The funding is further evidence of Japanese interest in Africa and
in PAYG solar energy globally. Mitsubishi ;Corporation’s extensive reach,
sector specific and technological expertise will help us to reach more people
without reliable access to modern utilities and services at even greater scale.</p>



<p class="wp-block-paragraph"> ;“We look forward to this next phase of growth that
will help us to transform more lives, unlock potential and grow our already
global footprint by opening up new markets and develop further our product
range.”</p>



<p class="wp-block-paragraph"> ;Mitsubishi ;Corporation’s deep rooted sector
experience will help power BBOXX’s innovation-led development. The ;Power
Solution ;Group currently owns and operates about 6,100 ;MW
of ;net ;generation capacity globally as of 30th ;June 2019
including wind, solar and other types of renewable energy. It is active in
areas that help to combat climate change and secure sustainable supplies of
energy to support a transition to a low carbon society.</p>



<p class="wp-block-paragraph"> ;The participants in the Series D round are ENGIE
Rassembleurs d’Energies, which promotes access to sustainable energy for all
and is affiliated to ENGIE Group; Luxembourg-based pioneering impact investor,
Bamboo Capital Partners; DOEN Participaties, a Dutch impact investment fund
supporting sustainable and social startups; and MacKinnon, Bennett &;
Company (MKB), a Montreal-based growth equity firm focused on the clean energy,
transportation, and smart city sectors.</p>



<p class="wp-block-paragraph"> ;Mr Hamayun added ;“Our Series D round is made
up of investors spanning three continents and is a testament to how the global
community is embracing sustainability. BBOXX provides the technology and the
scalability that makes us a tool for development and brings us closer to
meeting the United Nation’s Sustainable Development Goals (SDGs).”</p>



<p class="wp-block-paragraph"> ;The investment follows a string of deals and
strategic partnerships including the $31 million investment from Africa
Infrastructure Investment Managers in January. ;Last year EDF, the world’s
leading electricity company, became a joint shareholder in BBOXX Togo with a
50% stake.</p>

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