Kenyan Startup Hydrobox Secures USD 9 M

Hydrobox, a Kenya-based energy startup, has raised USD 9 M in debt financing from FMO – a Dutch entrepreneurial development bank, to scale its hydro-powered mini-grid projects across the country. The funding will support the development of eight small hydro projects across four mini-grids designed to provide sustainable electricity to over 10,000 individuals and businesses.

Hydrobox leverages containerized hydropower plants integrated with IoT technology for remote monitoring, significantly reducing construction costs and deployment time. These grids will serve approximately 2,582 households, aiming to reach 1 million end-users by 2030, expanding operations in Kenya and the Democratic Republic of Congo.

Co-founded in 2018 by Thomas Poelmans, Hydrobox targets remote areas often overlooked by traditional electricity providers. Hydrobox NV is a Belgian company focused on developing hydroelectric power plants that harness the energy of flowing water to generate electricity. The goal is to provide an affordable, reliable, sustainable, and scalable source of energy for rural households in developing countries.

This investment aligns with Hydrobox’s mission to provide affordable, reliable, and sustainable energy solutions, fostering development in underserved communities.