Armstrong Energy has been appointed by New Light Africa Limited (New Light Africa or the Company) to raise up to USD 2 million in Series B capital. Armstrong is looking to make an initial close of the round by 31 August 2016.
New Light Africa is a UK company that was established by the management team that first proved the enormous demand for solar lanterns in East Africa. Between 2011 and 2015, Steve Andrews (Founder and CEO) and Linda Wamune (MD, Kenya) worked together at SunnyMoney and sold 1.3 million solar lanterns in Kenya, Uganda and Tanzania, making SunnyMoney the leading distributor of solar lanterns in a region where two thirds of households still do not have access to electricity.
At SunnyMoney, Steve and Linda demonstrated the enormous demand in East Africa for products that transformed the daily lives of people if the products could be sold at the right price and in a way that customers could afford. At New Light Africa they want to take this a step further and provide not just access to electricity for the first time, but also other products designed to improve the lives of people living in remote rural areas. The Company is initially focused on selling solar lanterns, cookstoves, mobile phones, and water tanks.
Steve Andrews, the Managing Director of New Light Africa, said “We are delighted to be working with Armstrong Energy to grow our business, and are excited about the opportunity that this gives us to focus on meeting our targets. Over the last several weeks we have worked closely with the Armstrong team, and have already begun to see the benefit of working with them, whether it be in refining our strategy, or in our procurement policies. Together, I believe that we can deliver our business plan. If we do so, we will sell more than five and a half million solar lanterns over the next five years, hopefully improving the lives of each and every family that buys one.”
Andrew Newman, a director of Armstrong Energy, said, “We are delighted to be working with the New Light Africa team. When we established the Armstrong Energy Global Foundation in 2013, we set ourselves the objective of trying to provide access to electricity to one million people. The New Light Africa team has already demonstrated that this can be achieved. But what we particularly like about New Light Africa is that their business model does not rely on charity or soft money. This will hopefully make it sustainable in the long-term. If businesses like New Light Africa can demonstrate that people can make money whilst providing life changing products to people in Africa, then where they lead others will hopefully follow, resulting in the lives of some of the poorest people on the planet being improved.”
Further information on New Light Africa can be found by watching this short video: https://vimeo.com/153289160