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9 Nigerian Startups Secure USD 100k Each From 2020 Nigeria Off-Grid Energy Challenge
9 Nigerian Startups Secure USD 100k Each From 2020 Nigeria Off-Grid Energy Challenge

Nine Nigerian energy startups including Allbase Global Technology, Ashdam Solar Company, Covenant Plus Engineering, Green Acres Microfinance Bank, Reeddi Technologies, Salpha Energy, Solarworld Alternative Energy Resources, Sunhive Limited and Vesselnet Integrated Services Limited have been granted funding of USD 100k each as finalists of the 2020 Nigeria Off-Grid Energy Challenge.

Conducted jointly by the U.S. Africa Development Foundation (USADF) and All On, this challenge identifies and supports off-grid energy solutions which aim to supply energy to remote, unserved areas of Africa. The USD 100k funding to each startup are jointly supported in different forms: USD 25,000 grant capital from USADF, USD 25,000 grant capital from All On and USD 50,000 convertible debt from All On.