EV Charging – Tech | Business | Economy https://techeconomy.ng Tech | Business | Economy Thu, 12 Feb 2026 06:31:24 +0000 en-GB hourly 1 https://wordpress.org/?v=7.0 https://techeconomy.ng/wp-content/uploads/2025/06/cropped-256Px-32x32.png EV Charging – Tech | Business | Economy https://techeconomy.ng 32 32 Power Banks | Inverters: How Nigeria’s ₦29 Billion Power Deficit is Minting a New ‘Personal Grid’ Economy https://techeconomy.ng/power-banks-inverters-how-nigerias-%e2%82%a629-billion-power-deficit-is-minting-a-new-personal-grid-economy/ https://techeconomy.ng/power-banks-inverters-how-nigerias-%e2%82%a629-billion-power-deficit-is-minting-a-new-personal-grid-economy/#respond Wed, 11 Feb 2026 23:10:16 +0000 https://techeconomy.ng/?p=175986 Nigeria’s unreliable power supply is pushing many people towards personal energy solutions.

Frequent grid failures, high costs of fuel and the need for steady electricity for daily life have made Nigerians more open to cleaner and more dependable alternatives.

For many households and businesses, this is not driven by preference but by necessity, as the national grid continues to fall short.

Across the country, homes, offices and small businesses are finding their own ways to stay powered, relying less on public supply and more on self-managed energy systems.

Why Power Reliability is Driving New Energy Choices

Despite several government policies aimed at improving electricity supply since 2001, power outages are still a regular occurrence.

The national grid collapses multiple times each year, while many communities experience blackouts that last for hours or, in some cases, days.

Electricity disruptions cost Nigerian businesses an estimated ₦29 billion annually. Households also feel the impact through interrupted work, food spoilage and general discomfort.

At the same time, the cost of fuelling generators is not reducing, increasing pressure on already stretched budgets.

These challenges are driving interest in alternatives that are quieter, cleaner and cheaper to run. For many Nigerians, the focus is now on solutions that can provide backup power or operate independently, without the constant need for fuel.

As demand grows, certain technologies are gaining more attention than others, ranging from emerging systems to devices already in everyday use.

EV Charging: Early Stage but Growing Fast

Electric vehicle charging remains at an early stage in Nigeria, but interest is growing steadily.

In 2026, new international partnerships, including an agreement with South Korea to build Africa’s first large-scale EV manufacturing plant, showed a stronger push towards electric mobility and charging infrastructure.

High fuel prices and limited government incentives have also encouraged interest in EVs. For now, most adoption is concentrated in cities such as Lagos and Abuja, where charging stations are limited and largely operated by private companies or individual projects.

Early adopters, fleet operators and commercial users are leading the shift, drawn by lower running costs compared with petrol or diesel vehicles.

While grid limitations continue to slow wider adoption, planned expansion of charging networks and local production suggests stronger growth in the coming years.

For most Nigerians, however, the immediate energy challenge is addressed by smaller and more accessible technologies.

Power Banks and Inverters: Small Systems, Everyday Solutions

Power banks have become a basic necessity in Nigeria. Smartphones are central to communication, work, payments and navigation, making battery life critical during frequent outages or long periods without access to power.

High-capacity power banks, often starting from 20,000mAh, are now common. They offer multiple phone charges, support fast charging and are practical for travel or remote work. During outages, they help people stay connected for work, emergencies and daily communication.

For households and offices with higher power needs, inverters are increasingly replacing fuel-powered generators. Modern inverter systems, paired with batteries and often solar panels, provide quiet and reliable backup power during grid failures.

Many users choose inverters for their lower long-term costs, reduced noise and ability to protect sensitive devices from voltage fluctuations. Solar-integrated systems are especially popular, as they cut fuel expenses and reduce dependence on the grid.

These setups typically support lighting, fans, televisions and small appliances, making them a practical middle ground between basic backup and full-scale power systems.

A Shift Towards Self-Reliance

The growing use of EV charging solutions, power banks and inverters reflects how Nigerians are adjusting to persistent energy challenges. People are selecting options that match their budgets, daily routines and tolerance for unreliable grid supply.

Rather than waiting for comprehensive improvements in public electricity, many are building personal energy systems that offer greater control and stability.

The trend points to resilience and adaptation, as Nigerians continue to find workable solutions in the face of ongoing power shortages.

[Featured Image Credit]

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Cloover Raises $1.2bn to Enable Residential Energy Independence https://techeconomy.ng/cloover-1-2b-financing-energy-independence/ https://techeconomy.ng/cloover-1-2b-financing-energy-independence/#respond Wed, 21 Jan 2026 10:05:18 +0000 https://techeconomy.ng/?p=174645 Cloover has raised $1.2 billion in financing commitments to push residential energy independence across Europe.

This puts serious weight behind its goal to become the core operating platform for decentralised power systems.

The Berlin-based company confirmed it has raised $22 million in Series A equity alongside a $1.2 billion debt facility, taking total committed capital to $1.222 billion. 

The equity round was led by MMC Ventures and QED Investors, with backing from Lowercarbon Capital, BNVT Capital, Bosch Ventures, Centrotec and Earthshot Ventures. 

A major European bank is providing the debt to support customer and installer financing, reinforced by a €300 million guarantee from the European Investment Fund.

Cloover is responding to the high demand for home energy systems, which lack adequate machinery needed to deploy them at scale, as they are badly out of date. Installers still rely on patchy software, slow approvals and limited access to capital. 

Banks, on the other hand, are not built to finance thousands of small residential projects quickly. The result is delay, higher costs and missed opportunities.

Cloover’s model cuts through that bottleneck by placing financing inside the installer’s daily workflow. Instead of treating funding as a separate step, the platform links sales, procurement, financing and long-term energy management in one system designed specifically for distributed energy assets.

The company uses data-led credit assessments that focus on long-term energy savings, rather than relying only on standard credit scores. It also advances public subsidies upfront, so households do not have to wait months to benefit from state support. 

For investors, the platform offers exposure to a new infrastructure asset class, backed by live performance data and clear impact tracking.

With this $1.2 billion commitment, we’re enabling households to become energy independent, without the friction of upfront costs or complex loan applications. Our AI operating system connects stakeholders across the value chain and revolutionises how energy independence becomes the new norm,” said Jodok Betschart, co-founder and chief executive of Cloover.

On the ground, installers using the platform can offer financing at the point of sale, shorten payment cycles and reduce paperwork. Cloover says its partners generate, on average, 30% additional revenue by reaching customers they previously could not serve. 

Homeowners, meanwhile, gain access to solar, batteries, heat pumps and EV charging with no heavy upfront spend, and typically cut energy bills by 20 to 30% through better system performance and financing terms.

The company’s growth numbers reveal why investors are paying attention. Cloover reports that revenue grew more than eightfold in 2025 while being profitable, nearing $100 million in sales. It is targeting $500 million in 2026 and $1 billion the year after.

That growth is being driven by the dynamism in the energy market. Electricity demand is getting higher, grids are under stress, and electric vehicles are adding new pressure points. 

With households currently seeking better management over costs and reliability, governments establish policies that favour decentralised generation.

Cloover is not just about financing – we’re building the backbone for energy independence. We are creating the Shopify of Energy: a platform that equips manufacturers, installers, households, and investors with the tools to grow, collaborate, and deliver distributed energy at scale,” said Valentin Gönczy, co-founder and chief product officer.

Founded after extensive research with installers across Europe, Cloover was built around a simple insight: demand was not the issue, infrastructure was. 

Financing emerged as the biggest limitation, and the company set out to fix it without competing with installers themselves.

With fresh capital in place, Cloover plans to enter more European markets, including France, Italy, the UK and Austria, while expanding its product suite with solid automation and new financing tools. 

The longer-term goal is to run the digital backbone of decentralised energy, connecting households, installers, manufacturers and investors through a single platform built for scale.

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SA’s Zimi Bags $320,000 Grant to Test EV Power Sharing Tech That Could Ease Load Shedding https://techeconomy.ng/sas-zimi-bags-grant-to-test-ev-power-sharing-tech/ https://techeconomy.ng/sas-zimi-bags-grant-to-test-ev-power-sharing-tech/#respond Thu, 17 Apr 2025 14:19:52 +0000 https://techeconomy.ng/?p=157027 While most people think of electric vehicles (EVs) as just transport, Zimi, a South African startup, wants to turn them into something more: mobile energy banks. 

And now, with $320,000 (R6 million) in grant funding from the Energy and Environment Partnership (EEP Africa), the startup has the backing to prove it’s not just an idea.

The project isn’t about selling more chargers or fancy dashboards, but confronting one of South Africa’s most pressing headaches — load shedding — with a tool that’s been parked in our garages all along.

Zimi’s focus is vehicle-to-grid (V2G) technology. In plain terms, it’s a system that lets EVs push electricity back into buildings or the national grid. You go out, you drive, you come back, you plug in — and instead of just topping up your battery, your car can give power back to your home or workplace. When the grid fails, you don’t have to sit in the dark.

The grant aims to investigate and understand the limitations and challenges of Vehicle-to-Grid (V2G) technology, develop real-world pilot applications to test V2G in practice, and ultimately create a commercial model that operates within existing grid constraints,” said Michael Maas, CEO of Zimi.

The EEP Africa grant didn’t come easy. Over 530 organisations submitted applications. Only 32 got the green light. Zimi was one of them. That’s no fluke.

Zimi already works closely with logistics firms — companies that own large vehicle fleets and lose money every time a truck sits idle. With V2G, that downtime becomes productive. An EV parked at a warehouse can now help power the lights and keep operations running during outages. It’s energy recycling, fleet-style.

Perhaps the most important factor is a proven track record – something we have established through our work with major logistics providers such as Bakers Logistics,” Maas added.

The EV market in South Africa is still growing, but Zimi isn’t waiting for mass adoption. It’s betting on fleet operators to lead the transition. These are the early adopters who feel the pinch of diesel prices and operational delays more than anyone else. They also have the scale to test and refine new tech like V2G before it hits mainstream consumers.

Zimi’s solution is a complete system that helps businesses monitor their energy usage, manage payments, and even plug into solar power when available. Think of it as a full EV ecosystem, designed for the realities of South African power problems.

The timing couldn’t be better. Volvo recently launched the EX90 in South Africa, one of the country’s first EVs capable of bi-directional charging — a key requirement for V2G tech. Slowly but surely, the hardware is catching up with the vision.

At its core, Zimi is pushing for a mindset shift. The car in your driveway or at the company depot isn’t just for transport anymore. It’s a backup generator, a battery, and a power manager rolled into one.

For a country that still dreads the next stage of load shedding, it’s a breath of fresh thinking. 

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