Shell-Backed Ghanaian Startup Kofa Expands Battery-Swapping Network
TLDR
- Kofa, a Ghanaian battery network startup, secures $8 million for expanding renewable energy-powered battery-swapping infrastructure in Ghana.
- Supported by Shell Foundation and the UK Government’s TEA platform, Kofa aims to deploy 6,000 batteries and 100 swap stations, enabling clean energy access for electric vehicles and small businesses.
- Kofa's initiative focuses on promoting renewable energy adoption, reducing reliance on petrol generators, and providing convenient access to fully charged batteries for users.
Ghanaian battery network startup Kofa is expanding its battery-swapping infrastructure with an $8 million special purpose vehicle (SPV), supported by a $3 million commitment from Shell Foundation and the UK Government’s Transforming Energy Access (TEA) platform.
Kofa aims to build an affordable, customer-centric electricity network powered by renewable energy and its high-capacity Kore2 battery system. Partnering with impact investor PASH Global, it will deploy 6,000 batteries and up to 100 swap stations across Ghana.
This initiative will provide clean energy for electric two-wheelers and small businesses, helping to reduce reliance on petrol generators and promote renewable energy adoption. The SPV will focus on battery network management and operational support, allowing users to access fully charged batteries on demand. Kofa also plans to expand into Kenya and Togo soon.
Key Takeaways
A wave of innovators—local and foreign startups and more mature companies—have emerged in recent years to bring EVs to African roads. They provide services that include local assembly and sales of vehicles, asset financing, battery-as-a-service, etc. across two, three, and four-wheelers in a market projected to grow from $12bn in 2021 to $21bn by 2027. There is no readily available data to track progress but as EV numbers grow, so does the need for charging infrastructure. On that front, companies like Kofa in Ghana are working to build networks of charging and battery swap stations across urban areas.
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