Kofa aims to create an affordable, customer-driven electricity network powered by portable batteries and renewable energy. It has developed a multi-use high-capacity battery system named Kore2, alongside a battery-swapping network, as it bids to foster a sustainable energy future in West Africa.
The startup, which recently announced plans to expand to Kenya and Togo shortly, has now partnered impact investor PASH Global to expand its battery-swapping network in Ghana via an SPV backed by a GBP2.35 million (US$3 million) commitment from Shell Foundation, co-funded with the UK Government through its Transforming Energy Access (TEA) platform.
Shell Foundation and TEA are committing an additional GBP1.4 million (US$1.8 million) to support Kofa’s e-bike asset financing, research on the impact of Kofa’s multi-use battery technology, and operating expenses.
Kofa will focus on its core business of battery network management and support of the SPV operations. This involves infrastructure to manage battery swapping for users – ensuring that customers can access fully charged batteries at any time. PASH will play a crucial role in supporting Kofa in the operational maintenance, deployment and management of the battery swapping stations.
The network is targeting the deployment of 6,000 batteries and up to 100 swap stations across Ghana, ensuring that energy is accessible anytime, anywhere, and promoting the transition to clean energy and the large-scale adoption of EVs in Africa.
Erik Nygard, CEO of Kofa Technologies said: “This initiative is a significant step toward cleaner, more sustainable energy solutions in Ghana. With the support of our partners, we are building a foundation that will not only benefit local communities and businesses but also serve as a model for clean energy innovation across Africa.”
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