Benin’s Solar Startup MyJouleBox Secures USD 1.8 Mn Funding

MyJouleBox, a French solar energy firm, has inked a USD 1.8 Mn finance agreement with ElectriFi to deliver Solar Home Systems (SHS) in Benin and to hire 200 new employees. The startup also hopes to extend its market share in Burkina Faso and Togo, and Benin.

The European Union’s Electrification Financing Initiative (ElectriFi) is a program that encourages electrification initiatives. Its goal is to encourage investments that expand and/or improve access to modern, cheap and environmentally friendly energy services.

MyJouleBox offers a solution for solar professionals in Africa to offer leased solar installations to their customers.