Netherland’s investment

Netherland’s investment

Netherlands emerges as catalyst for significant sustainable international investment

– Attracts global investment from key players including Japan’s Mitsubishi Corporation

– Mitsubishi is lead investor in $50m Series D for BBOXX, a next generation utility

– Investment is delivering energy access across Africa

23 October 2019 – The Netherlands is unlocking significant levels of investment capital to address global challenges.

It is emerging as a prominent hub for investors looking to channel capital to achieve a measurable social and environmental impact, combining business with purpose.

This trend includes Dutch organisations such as DOEN Participaties, an impact investment fund supporting sustainable and social startups and Oikocredit, one of the world’s largest private investors in the micro finance sector.

They have channelled significant investments into BBOXX, a next generation utility and helped BBOXX to positively impact nearly one million people across 12 African countries through access to pay-as-you-go (PAYG) solar energy using mobile money.

DOEN Participaties also recently invested in BBOXX’s latest $50 million funding round led by Mitsubishi Corporation, a global integrated business enterprise headquartered in Japan. The initial Dutch investment has enabled BBOXX to accelerate its mission to transform lives and unlock potential and was a key factor in securing investment from Mitsubishi Corporation.

The deal gained further global interest with additional investors from France (ENGIE Rassembleurs d’Energies), Luxembourg (Bamboo Capital Partners) and Canada (MacKinnon, Bennett & Company (MKB), demonstrating how the global community is embracing sustainability and leveraging high growth companies as tools for development.

DOEN Participaties first became an equity investor in BBOXX in 2016, contributing to its $20 million Series C funding round. Earlier this year, Africa Infrastructure Investment Managers’ (AIIM) invested USD 31 million in BBOXX enabling them to expand operations in Rwanda, Kenya and the Democratic Republic of Congo (DRC).

Mansoor Hamayun, CEO and Co-founder, BBOXX, said: “The Netherlands is emerging as a hub for this crucial type of financing. Its progressive approach is due to the solid framework

it has in place, helped by high public awareness, an active civil society and business-friendly policies. The country’s interest in cleaner, greener energy has caught the attention of major corporates and undoubtedly led to us receiving investment from Mitsubishi Corporation.”

“We look forward to our next phase of growth that will help us to transform more lives, unlock potential and grow our already global footprint by opening up new markets and develop further our product range.”

Katsuya Nakanishi, EVP and Group CEO, Power Solution Group, Mitsubishi Corporation, said: “Our investment into BBOXX, alongside investors from the Netherlands and other parts of the world, is the latest in our drive to realise a sustainable society. It is simultaneously the result of our strong alignment with BBOXX’s mission to use technology to expand access to modern utilities across the globe. We look forward to working with BBOXX to innovatively and sustainably deliver much-needed utilities to communities currently living without them.”

Michelle de Rijk, impact investment manager DOEN Participaties commented: “Millions of people still live without access to reliable energy or other essential modern utilities. To change this we started investing in BBOXX in 2016 and with our help, BBOXX has positively impacted nearly one million people to date by providing them access to affordable clean energy. We look forward to continuing our work together to close the energy access gap worldwide.”

– ENDS –


BBOXX is a next generation utility, transforming lives and unlocking potential through the provision of affordable, reliable and clean energy and other modern utilities. BBOXX is enabling economic development in off-grid communities by creating new markets through the entry point of electricity. Energy provision brings people into the digital economy and creates demand in other areas including – gas, water, internet and finance – a demand which the company also seeks to meet.

So far, BBOXX has deployed close to 270,000 solar home systems, of which 200,000 are remotely monitored via BBOXX Pulse™, positively impacting the lives of nearly one million people. BBOXX has over 800 staff across nine offices including in Rwanda, Kenya, the Democratic Republic of Congo and Togo, with its head office in the UK and its manufacturing operations based in China. In January 2019, BBOXX was announced as the winner of the Zayed Sustainability Prize in the Energy category – testament to the way the company is making a meaningful difference to people’s lives around the world. You can find further information about BBOXX on its website at – http://www.bboxx.co.uk/

About Mitsubishi Corporation

Mitsubishi Corporation is a global integrated business enterprise that develops and operates business across virtually every industry including industrial finance, energy, metals, machinery, chemicals, foods, and environmental business.

Mitsubishi Corporation has built a network to drive its next phase of major growth by constantly enhancing its ability to respond to change in tandem with fostering collaboration through the efficient and effective roles among Mitsubishi Corporation offices and subsidiaries, group companies and the head office.

Mitsubishi Corporation has a network of 171 overseas operations comprising 98 offices, 40 subsidiaries headquarters, and 33 branches all over the world to drive its next phase of major growth by constantly enhancing its ability to respond to change.

About DOEN Participaties

DOEN Participations (DOEN Ventures) has the ambition to make the world greener and more social. That is why impact is central to all investments. Over the past 25 years DOEN Participaties has become the largest impact investor in sustainable and social start-ups in the Netherlands. DOEN Participations invests in the early phase of companies and dares to take risks. DOEN Participaties is fully owned and managed by DOEN Foundation. The DOEN Foundation was set up by the Dutch Charity Lotteries. For more information www.doenparticipaties.nl

For more information please contact:

BBOXX Press Office

Kia McLean / Malini Parkash / Amy Boekstein

Instinctif Partners

Email: bboxx@instinctif.com

Phone: +44 (0) 207 457 2845 / +44 (0) 207 457 2064