Kofa, a leading Ghanaian startup specializing in battery network solutions, is making strides in West Africa’s clean energy sector. The company is set to expand its battery-swapping network across Ghana through a GBP6.15 million (US$8 million) Special Purpose Vehicle (SPV). This expansion aligns with Kofa’s vision of creating an affordable, customer-driven electricity network powered by portable batteries and renewable energy.
Kofa’s Battery and Swapping Technology
Central to Kofa’s initiative is its Kore2, a multi-use high-capacity battery designed to support various energy needs. The battery is integrated into a swapping network that provides sustainable energy solutions for electric vehicles (EVs), small businesses, and households. Kofa’s mission is to replace the use of small petrol generators, significantly cutting reliance on fossil fuels while promoting the large-scale adoption of electric two-wheelers and clean energy.
Key Partnerships and Investment
Kofa’s expansion is backed by PASH Global, an impact investor, in collaboration with a GBP2.35 million (US$3 million) commitment from the Shell Foundation and the UK Government’s Transforming Energy Access (TEA) platform. These funds will be directed towards the growth of Kofa’s battery-swapping network in Ghana.
In addition, Shell Foundation and TEA are committing another GBP1.4 million (US$1.8 million) to support:
- E-bike asset financing for local consumers.
- Research on the impact of Kofa’s battery technology on energy access and affordability.
- Covering Kofa’s operating expenses.
Expansion Plans and Goals
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Kofa has announced plans to expand its operations beyond Ghana, targeting Kenya and Togo as future markets. In Ghana, the battery-swapping network is expected to deploy 6,000 batteries and build up to 100 swapping stations. These stations will ensure users have round-the-clock access to fully charged batteries, making energy reliable, affordable, and sustainable.
Impact on Clean Energy and Communities
The partnership between Kofa and PASH is seen as a significant step toward achieving clean energy and sustainable solutions in Ghana and beyond. The project will:
- Support electric two-wheelers, which are vital for personal and commercial transport.
- Provide a clean power alternative to petrol generators, which are widely used by small businesses and homes.
- Help reduce carbon emissions and support the broader energy transition across Africa.
Kofa’s CEO, Erik Nygard, emphasized that this initiative would not only transform local communities but also serve as a model for clean energy innovation across Africa, paving the way for environmentally friendly solutions in the region.
This initiative is poised to position Kofa as a leader in West Africa’s sustainable energy transition, driving innovation and cleaner energy alternatives across the continent.