Azuri Technologies secures £20.5m from Marubeni Corporation to expand African solar operations
Marubeni Corporation led the equity investment to accelerate the company market growth across sub-Saharan Africa.
Azuri Technologies supplies pay-as-you-go solar home systems to off-grid households across sub-Saharan Africa. The company combines solar technology with mobile payments to deliver reliable electricity and digital services.
Azuri Technologies has secured £20.5m in equity financing led by Marubeni Corporation, with continued backing from existing investor IP Group. The funds will be deployed to scale market presence across East and West Africa while broadening the company product offerings into new territories.
The capital injection highlights the growing commercial viability of decentralized power models in regions lacking reliable grid infrastructure. Marubeni brings extensive international energy experience to the partnership as Azuri enters its next stage of operational development.
From the founder
"We are delighted today to announce the equity investment by Marubeni Corporation and existing shareholders. The entry of a leading player in the international energy market into this sector demonstrates the increasing maturity of off-grid power and its role in serving the 600 million people in Africa that still lack access to electricity,"
Simon Bransfield-Garth
CEO at Azuri Technologies
Investor perspective
"We believe that Azure’s unique business model will have a profound impact on the growing off-grid energy market in Africa,"
Yoshiaki Yokota
Chief Operating Officer, Power Business Division, Marubeni Corporation
Use of funds
- 01Expand into international markets
Investors
Categories
About the company
Azuri Technologies
Azuri Technologies delivers pay-as-you-go solar home systems to off-grid households across Africa.