SteamaCo and Shyft unite to digitize Africa’s power sector”
In a transformative move for Africa’s energy sector, SteamaCo, a UK-based energy revenue management pioneer, and Shyft Power Solutions, a Nigerian leader in digital energy solutions, have merged to drive the digitization of Africa’s power grids.
This merger is accompanied by a new funding round led by Equator VC, with contributions from Praetura Ventures and KawiSafi Ventures, signaling robust investor confidence in the future of Africa’s energy landscape.
A press release issued at the weekend by the firms explained that by combining their expertise, they aim to expand their reach across Africa, improving grid intelligence and energy access. SteamaCo, with over a decade of experience in 20 African countries, has revolutionized energy management with its flagship product, Nimbus AMI, which offers advanced metering infrastructure.
Shyft, on the other hand, is renowned for its innovative FlexView solution, enabling near real-time energy monitoring and eliminating token-based energy systems.
“This merger greatly boosts our ability to grow in African markets. By combining our advanced metering technology with Shyft’s local expertise, we can better meet our customers’ specific needs. Together, we will foster innovation, improve services, and provide effective, customized solutions to Africa’s energy challenges”, said Tom Parkinson, Managing Director of SteamaCo.
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Shyft’s CEO, Ugwem Eneyo, emphasized the importance of this partnership: “Our vision goes beyond delivering cutting-edge technology; it’s about transforming the energy experience of power providers and their consumers. Alongside our customers, we can leapfrog inefficient grids and build more intelligent, resilient infrastructure.”
“The merger positions the combined entity as a key player in addressing Nigeria’s and Africa’s energy access challenges, especially as distributed energy resources like mini-grids and solar home systems gain traction. The collaboration also underscores the companies’ commitment to leveraging data-driven solutions to foster operational efficiency and sustainability”, the statement added.
