Nairobi, Nairobi County, Kenya
Team size: 201 - 500
Founders: Jake Cusack, Matt Tilleard
Founded date: 2011
Company revenue: US$ 50 - 100 million
Investors: ARCH Emerging Markets Partners, Bank of America, KLP Norfund Investments, Microsoft Climate Innovation Fund, Norfund
Company stage: Other
CrossBoundary recently formed CrossBoundary Energy, the first dedicated investment fund for Commercial and Industrial solar in Africa. Many businesses in Africa generate a significant portion of their own electricity through inside-the-fence diesel generation. Due to the cost of diesel, it would be economically and environmentally optimal for these businesses to switch to renewable generation through solar and other alternatives. However, businesses are ill equipped to take the financial and technical risk to finance a conversion to renewables. At the same time, capital lacks a standardized platform to access these profitable but relatively small transactions. CrossBoundary Energy is a platform to aggregate finance for medium scale renewable self-generation. The platform finances renewable generation projects (0.2MW-10MW) that serve commercial customers in Africa such as off-grid light manufacturing, cell towers, farms, remote hospitals, eco-lodges and beverage bottlers. Our goal is to enable the delivery of energy-as-service and unlock the latent opportunity for renewable own-generation in Africa.