SparkMeter

Date: 2022

Asset Class: Direct Investment

Description:  SparkMeter is addressing poor grid reliability in emerging markets through their smart meter and grid management software. The company sells its IOT connected smart meters and grid analytics to small and medium sized utility companies to help them operate more resilient and decarbonized grids.

Why We Invest: 3.5 billion people live without reliable access to energy. Utility companies in emerging markets struggle to operate resilient and decarbonized grids. As a result of this unreliable access to energy, people turn to gas and diesel-fueled backup generators, which are harmful to the environment and more expensive than grid-based energy. SparkMeter’s software increases access to reliable energy, improves transparency, increases financial sustainability for utilities, and reduces reliance on fossil fuels. SparkMeter has sold over 150k meters to microgrid utility companies, which have connected over 750k people to more reliable energy and clean electricity.