Mobisol, a leader in decentralized solar electrification, Tuesday announced that it has acquired Lumeter, one of the largest providers of pay-as-you-go (PAYG) software for the off-grid solar industry.
The acquisition creates strong synergies between Lumeter and Mobisol’s software for pay-as-you-go services. The combined company creates an unrivaled player with strong pricing power, expertise in the metering sector for stand-alone solar systems and mini-grid solutions.
Furthermore, it has the ability to deliver PAYG functionalities for large productive use systems to underserved areas of the world. Following this acquisition, the Mobisol platform now supports more than 500,000 people globally with access to clean, reliable and affordable power.
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.
While some sub-Saharan African countries are attempting to implement costly and slow-moving on-grid infrastructure, off-grid options such as solar stand-alone systems are made affordable through PAYG software, generate power from day one and are easy to install. 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.
“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.”
Mitra Ardron, founder of Lumeter adds: “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 will bring advantages to all of our partners.“ 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.
In this way, the company enables rural families and business owners to power a range of appliances, such as televisions, stereos and refrigerators to improve their standard of living and earn incremental income through solar-powered businesses, such as mobile phone charging stations, barber salons, movie theaters and more.
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 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 acquisition achieves short-term cost savings as well other long-term strategic opportunities for growth and new revenue opportunities.