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First And Largest Crowdsale Worth $1.4 Million Led By South African Startup, Sun Exchange

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Startups

April 5, 2021, 1:11 p.m.

A 510-kilowatt solar-plus-storage project to power the packhouse and cold store facilities of Zimbabwean agriculture company Nhimbe Fresh has been completed through a $1.4 million crowdsale.

The fresh produce grower and exporter will save about $2-million on its solar installation and reduce overall energy costs by about 60%.

Led by South African startup Sun Exchange, the solar cells were purchased by over 1700 individuals across 98 countries.

Sun Exchange is a solar marketplace that enables anyone to buy remotely located solar cells that power schools, and organizations.

According to the CEO and founder Abraham Cambridge, the crowdsale is the company’s first and largest crowdsale outside of South Africa

“This is our largest crowd sale and our first project outside of South Africa. It demonstrates how individuals, empowered with innovative technology, can play a critical role in creating a more sustainable energy future by unlocking the potential for clean energy in ways that traditional finance cannot,” he said

Launched in 2015, Sun Exchange has built a community of more than 19,000 members across 168 countries and brought solar power to 35 South African schools, businesses, and organizations, and it set itself up for further growth after closing its US$4 million Series A investment round in June of last year.

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Verny Joy Author

Verny loves to write poetry, fiction and quotes. Her love for writing landed her in journalism. She loves gadgets and travelling to explore new places.

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