Top new businesses of 2016: Brighter World Energy
The start-up energy provider looking to solve the energy crisis in Africa
Founder: Cheryl Latham
Launched: October 2016
An energy provider for the socially conscious and the financially savvy, Brighter World Energy was launched with a dual mission – to provide cheaper energy for UK customers and introduce clean electricity to off-grid African villages.
The buy-to-give start-up was founded by female entrepreneur Cheryl Latham after she was inspired by a trip to Kenya that she took as a student. With villagers paying inflated prices to use toxic kerosene for light, Latham saw good reason to shake up the global energy industry.
For every 2,000 UK customers that sign up, Brighter World Energy pledges to build a solar-powered micro-grid in an African village. To ensure a completely sustainable power source, villagers will pay a tariff to cover repairs and part replacements, and some villagers will be employed and trained to carry out everyday maintenance to keep their micro-grid working efficiently.
As if that wasn’t reason enough to sign up, the business supplies energy to UK customers at competitive tariffs that, it claims, could potentially save the average household up to £200 per year.
Since launch the start-up has attracted considerable interest and investor attention including £500,000 in seed capital from investment bank ClearlySo in October of this year.
With truly admirable commitments that appeal to an increasingly socially-conscious market and are likely to attract sustainable stakeholder engagement, Brighter World Energy has the potential to revolutionise the energy market and make a tangible difference to lives around the world. A definite start-up to watch in 2017!