India’s Orb Energy Pte Ltd. and Acumen Fund have partnered to help Orb expand its household lighting systems. Acumen Fund is making a significant equity investment to help Orb extend its household lighting systems to more rural customers, to scale its manufacturing, and to develop innovative products to meet the needs of its low income customers.
“This investment by Acumen is perfectly timed, and essential to our growth,” said Damian Miller, CEO of Orb Energy. “We will use it to more than double the number of branches and employees over the next two years, and to take our monthly sales and installations from 1,000 to 2,000 systems per month. It will also help us design new, innovative products and enhance customer access to finance, both of which will serve our low income customers.”
As one of India’s leading providers of solar energy systems and the largest direct provider of off-grid solar systems in India, Orb sells, installs, and services a full range of off-grid solar systems: solar photovoltaic systems for lighting and back-up power, solar thermal for hot water, solar street lighting for security, as well as energy efficient lights, fans and other appliances. Over the last four years, Orb has installed approximately 25,000 solar systems.
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