In a groundbreaking development for Africa’s power industry, SteamaCo, a UK-based leader in energy revenue management, has merged with Nigeria’s Shyft Power Solutions, a frontrunner in digital energy innovation. This union is set to accelerate the digitization of Africa’s energy grids and enhance access to sustainable power across the continent.
A Strategic Partnership Backed by Strong Investment
The merger has been bolstered by a fresh funding round led by Equator VC, with additional support from Praetura Ventures and KawiSafi Ventures, reflecting strong investor confidence in the duo’s mission to transform Africa’s energy landscape.
A joint statement from the companies highlighted their shared vision of improving grid intelligence and energy accessibility through their combined expertise and advanced technologies.
Combining Expertise for Greater Impact
SteamaCo, with over a decade of operations in 20 African countries, is renowned for its Nimbus AMI (Advanced Metering Infrastructure), which offers cutting-edge solutions for energy revenue management.
Shyft Power Solutions brings its FlexView platform to the table, an innovative system that provides near real-time energy monitoring while phasing out token-based energy systems, which have long posed challenges to efficient power distribution in Africa.
Tom Parkinson, Managing Director of SteamaCo, expressed enthusiasm for the merger:
“This collaboration significantly strengthens our ability to expand across African markets. By integrating our advanced metering technology with Shyft’s local expertise, we are better equipped to meet the unique needs of our customers. Together, we will drive innovation, enhance services, and deliver tailored solutions to Africa’s energy challenges.”
Transforming the Energy Experience
Shyft CEO Ugwem Eneyo emphasized the transformative potential of the partnership:
“Our vision is not just about delivering state-of-the-art technology; it’s about revolutionizing how power providers and consumers experience energy. Together with our customers, we aim to leapfrog outdated grid systems and establish smarter, more resilient infrastructure.”
A Focus on Distributed Energy Resources
The merger positions the newly unified entity as a key player in addressing energy access challenges across Nigeria and Africa. With distributed energy resources such as mini-grids and solar home systems gaining traction, the collaboration highlights a commitment to leveraging data-driven solutions for improved operational efficiency and sustainability.
This union is a significant step forward in addressing Africa’s energy needs, fostering innovation, and driving the continent toward a smarter, cleaner, and more resilient energy future.
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