Emerging Market Microgrid Company Powerhive Snags Caterpillar as Equity Investor

Startup Powerhive, a company that provides off-grid energy access to people in emerging markets said on January 25 that it completed a Series A $20M financing round led by Prelude Ventures with participation from Caterpillar Ventures, Total Energy Ventures, Tao Capital Partners, Pi Investments, and select other private investors.

Powerhive provides development expertise, software and control systems for microgrids in emerging markets. Its pilot project is an 80-kW capacity microgrid set up in four sites in Kisii, Kenya serving approximately 300 customers that it built in 2012. The company helps developers identify potential sites, source equipment (generally solar PV and energy storage), find and sign up customers and manage the energy delivery process.