Mobisol, a solar electrification company, yesterday announced it has acquired Lumeter, one of the largest providers of pay-as-you-go (PAYG) software for the off-grid solar industry.
The solar energy company said the acquisition creates strong synergies between Lumeter and Mobisol’s software for pay-as-you-go services as it creates an unrivaled player with strong pricing power, expertise in the metering sector for stand-alone solar systems and mini-grid solutions.
“While pay-as-you-go software pioneers like Lumeter and Angaza Design have very successfully paved the way to meet consumer needs, we will now be able to take this approach to a new level, offering opportunities to manufacturers and distributors on a larger scale” said Stefan Zelazny, Chief Innovation Officer at Mobisol. “We are able to provide a hardware agnostic software suite that makes major consumer and commercial implementations possible. We see the Lumeter acquisition as a key step in our plan to expand the pay-as-you-go market for Mobisol, its off-grid partners and other technologies beyond solar.”
Furthermore, the platform has the ability to deliver PAYG functionalities for large productive use systems to underserved areas of the world.
Mobisol has installed nearly 10 megawatts of capacity in Tanzania, Rwanda and Kenya, providing clean and reliable electricity to households and small businesses in low-income communities.
Following this acquisition, the Mobisol platform now supports more than 500,000 people globally with access to clean, reliable and affordable power.
It is estimated that approximately 2 billion people worldwide live without a reliable electricity source to meet their daily energy needs and are forced to turn to unhealthy and environmentally harmful alternatives such as kerosene lanterns and generators.
Mobisol estimates that its software saves up to 80% in daily operations. Through a comprehensive feature set, like automated invoicing, remote monitoring to reinforce payments, complete control of the supply chain from production facilities to sales outlets, and automated credit checks, overhead is reduced and digitalization of operations possible.
Mitra Ardron, founder of Lumeter, added: “I am glad to see Lumeter’s technology developed further with Mobisol. By bringing together the customers, hardware, and back-end solutions of the two leading companies in PAYG, we will bring new advantages to all of our partners.“
Lumeter brings proven pay-as-you-go software for the off-grid solar market that taps into existing micro-finance systems to bring affordable solar power to millions of households without other options.
Mobisol said it is now in a position to offer the most complete solution, including hardware, software and operational expertise, for off-grid solar pay-as-you-go power for large consumer uses as well as commercial systems (up to 600Wp).
In addition, the solar energy player said the acquisition achieves short-term cost savings as well other long-term strategic opportunities for growth and new revenue opportunities.