- The merger between SteamaCo and Shyft Power Solutions promises to transform energy access across Africa, combining advanced metering technology with localized innovation.
- This partnership addresses Nigeria’s pressing energy challenges, offering solutions for real-time monitoring, accurate billing, and sustainable energy management.
- Backed by a new funding round, the merger aims to expand clean energy access, enhance grid intelligence, and support economic growth across underserved regions.
UK-based SteamaCo and Nigerian Shyft Power Solutions have announced a merger to revolutionise Africa’s energy landscape. The partnership combines SteamaCo’s expertise in Advanced Metering Infrastructure (AMI) with Shyft’s local innovation in digital energy solutions. Together, they aim to tackle some of Africa’s most pressing energy challenges.
This merger aligns with a new funding round led by Equator VC, with contributions from Praetura Ventures and KawiSafi Ventures. The funding will support the merged entity’s mission to drive energy innovation and expand access across the continent.
SteamaCo and Shyft Power Solutions bring distinct strengths to the table. With over a decade of experience, SteamaCo has revolutionized energy management in 20 African countries through Advanced Metering Infrastructure (AMI). Its flagship product, Nimbus AMI, leverages AI-driven analytics to tackle energy losses and improve service delivery for major utilities like Aba Power.
Shyft complements this with solutions like FlexView, a metering system offering near-real-time consumption monitoring and efficient energy management tailored to distributed resources like solar and mini-grids. Shyft’s local expertise and commitment to sustainability have made it a trusted partner for distributed energy resources such as solar mini-grids and diesel management systems.
With nearly half Nigeria’s 220 million population connected to an overburdened national grid, frequent blackouts and reliance on diesel generators persist. Distributed energy resources like solar mini-grids are essential for bridging this gap. The merger positions SteamaCo and Shyft to tackle these challenges by enhancing grid intelligence and streamlining energy access for underserved communities.
The emerging SteamaCo-Shyft entity aims to transform these challenges into opportunities. By combining SteamaCo’s advanced metering technology with Shyft’s localized expertise, the new entity will enhance grid intelligence, improve revenue collection, and expand energy access for underserved communities.
“Our vision goes beyond delivering cutting-edge technology; it’s about transforming the energy experience for providers and consumers,” said Ugwem Eneyo, CEO of Shyft Power Solutions. “We’re committed to building intelligent, resilient infrastructure that enables smart cities and sustainable communities.”Tom Parkison, Managing Director of SteamaCo, echoed this sentiment, highlighting the merger’s potential to accelerate growth. “Together, we can better meet the specific needs of our customers, foster innovation, and provide effective, customised solutions to Africa’s energy issues.”
The merger also underscores a significant milestone for Shyft as a female-founded and led African deep-tech startup. This is particularly noteworthy given that, according to Africa: The Big Deal database, only 13% of African venture capital goes to female founders. The newly merged entity will have a predominantly female African management team, reflecting a commitment to inclusivity and diversity in leadership.
Beyond gender equity, the partnership promises job creation and economic growth while driving sustainable development across the continent. Nijhad Jamal, Managing Partner of Equator, emphasized the broader implications: “This integration enhances the sector’s ability to deliver reliable, smart metering solutions and helps close the energy access gap in Africa.”
By uniting SteamaCo’s advanced technology with Shyft’s localised expertise, this merger takes a significant step toward improving energy access and sustainability across Africa. The combined entity sets the stage for a brighter, more resilient energy future with innovative solutions and a commitment to inclusivity.