Jon Gosier on solar company
Barefoot Power and its sustainability factors:
Barefoot Power tackles the problem of offering low-cost power solution to the poor. Low-cost is key, because there’s nothing sustainable about running around the bush handing out free anything like Johnny Appleseed...the business model of Barefoot is to sell product locally or to use micro-finance options for people who still can’t afford their solutions.
The company:
“...is now growing at 25-50% per month and this is exhausting our current capital base. In April 2010 we secured US$1 million of investment from the European Commission, ring fenced to build our back end, which essentially is our administration, IT and key staffing requirements. This means that new investment can be wholly channelled to inventory, which is good for us and for investors,” says company founder Harry Andrews.
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