Mitsubishi leads funding for off-grid power firm BBOXX's expansion [Reuters]
MITSUBISHI CORP SPON (MSBHY)
NASDAQ:AMEX Investor Relations:
mitsubishicorp.com/jp/en/ir
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Source: Reuters
Mitsubishi leads funding for off-grid power firm BBOXX's expansion - Reuters 2 Min Read JOHANNESBURG (Reuters) - Japan’s Mitsubishi Corp. [MITSBQ.UL] was the lead investor in a $50 million funding round aimed at financing off-grid power company BBOXX’s expansion in Africa and Asia, the British firm said on Wednesday. Mitsubishi joins a host of top investors, including European power utilities, that are exploring off-grid technology as a way of expanding their exposure to renewables and tapping new pools of customers. “The funding is further evidence of Japanese interest in Africa and in (pay-as-you-go) solar energy globally,” BBOXX Chief Executive Mansoor Hamayun said in a statement. Founded in 2010, the company has installed around 200,000 solar home systems, which allow customers without access to a reliable grid to power lights and small appliances. Mitsubishi was the majority investor in the series D funding round - the fourth round of seed funding - which BBOXX said would help ac
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