The BEAM platform has been launched in sub-Saharan Africa and Asia. BEAM aims to aid the growth of an array of off-grid energy service companies, spanning solar home systems, large solar, and metering applications such as pumps and mini-grids.
Courtesy of BBOXX
It is the brainchild of Bamboo Capital Partners and BBOXX. The two are set to initially deploy $50 million in equity for distributed energy service companies and will unlock further debt capital. The initial deployment of capital will focus on ten countries but the vision is for this to scale across continents.
Jean-Philippe de Schrevel, Founder at Bamboo Capital Partners, said, "BEAM will catalyze substantial investment into off-grid energy access initiatives across the developing world. By drawing in and encouraging further capital via joint ventures, debt and co-investments, we have a bold and ambitious vision of providing millions more with access to energy to improve their everyday lives.”
By focusing on distributed businesses, BEAM hopes to help developing countries leapfrog the need to invest in expensive traditional grid infrastructure, thereby aiding economic growth.
Partnering through BEAM will enable distributed energy service companies to benefit from BBOXX's data-driven smart technology to improve operational efficiency and enhance customer service.
This includes Pulse, a cloud-based task management platform. Pulse digitalizes a business' entire sales and service management, automating tasks for sales agents, technicians, call centers and its supply chain. For example, Pulse uses product monitoring to predict failure and allow the operational team to proactively support customers, automatically schedules field staff tasks, and understands what type of customer is most likely to default.
Mansoor Hamayun, Chief Executive Officer of BBOXX said, "The BEAM model will allow us to take our successful model in Rwanda and Kenya and expand it across Africa and Asia by solving a key financial challenge.”