Africa Alternative Energy Solutions – Uganda
Every week, BiD Network highlights three finance ready plans. These top businesses have been subjected to the rigorous selection, coaching and matchmaking processes of BiD Network. They are ready for investment to expand their operations. With feasible business plans, a solid management team and real growth potential – finance ready plans deserve the attention of committed investors.
The Ugandan company Africa Alternative Energy Solutions has developed the Powerstation, which uses a vehicle’s electricity-generating capability to store unused electricity while driving, without extra fuel consumption. When a car’s battery is full, the generator continues to turn, but the electricity is in essence thrown away and thus wasted. The Powerstation stores this electricity and works as an extra portable battery. This energy can be used to power various devices in and around the house. “Drive an hour a day and have free light all night”.
Considering frequent power-cuts in Uganda, this product is suitable for urban areas with grid connection as well as distant rural areas that do not have a grid connection. The market potential is huge and already several big parties have signed MOUs with the entrepreneur, Harry Nielsen. New orders are doubling every quarter. In order to keep up to this demand his company needs US$500,000 to increase production capacity. The management team is strong, experienced, hard-working and ready to make a profit. Read more
Finance needed: $200,000 – $500,000
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BiD Network contributes to sustainable economic growth by stimulating entrepreneurship in emerging markets. With over 46,000 members and 10,000 business plans, bidnetwork.org is the world’s largest online community for emerging market SMEs, coaches and investors. Since 2005, BiD Network has launched 670 businesses, created more than 4700 direct jobs, and mobilized $15 million from investors. In November 2010, BiD Network was chosen by a G-20 jury as one of the 14 most innovative SME Finance organisations in the world.
To see more companies looking for investment in Africa, visit Finance Ready Plans.