Kofa Technologies Ltd, a Ghanaian company that provides clean and portable battery solutions, and PASH Global, a leading investor, have announced the expansion of Kofa’s battery exchange network in Ghana
This expansion of the Special Purpose Vehicle (SPV) is supported by a £2.35m ($3.04m) commitment from the Shell Foundation, co-funded with the UK Government through the Transforming Energy Access (TEA) platform. The Shell Foundation and TEA commit an additional £1.4 million (US$1.86 million) to support Kofa’s e-bike asset funding, research into the impact of Kofa’s multi-use battery technology and operational expenses.
The network aims to deploy 6,000 batteries and up to 100 exchange stations across Ghana, ensuring energy is accessible anytime, anywhere and promoting the clean energy transition and large-scale adoption of electric vehicles in Africa. PASH also intends, in due course, to convert these interchange stations to be fully solar powered, further increasing the station’s impact.
Clean energy for electric two-wheelers
The project aims to provide reliable, affordable and clean power for electric two-wheelers, while also providing power to small businesses and homes that currently depend on small gasoline generators—helping to displace these generators and significantly reduce dependence on fossil fuels . Preliminary analysis shows that electric motorcycles in Ghana are already up to 20% cheaper to run compared to internal combustion engine (ICE) vehicles. As battery prices continue to fall, these savings are expected to increase, further incentivizing the shift to electric vehicles.
Speaking at the launch event, Lord Collins of Highburythe Parliamentary Under-Secretary of State (Africa) said: “Today’s announcement demonstrates the UK’s continued commitment to supporting clean energy initiatives around the world. This project not only boosts economic growth, but also strengthens the UK’s partnership with Ghana, contributing to a greener, more resilient future for Ghana.”
“The partnership between Kofa and PASH represents a strong step forward in providing sustainable energy solutions across Africa,” he said. Kofi Owusu Bempahfounder and CEO of PASH Global. “With the strong support of the Shell Foundation and the UK Government, we are well placed to lead the electrification revolution, starting with this transformative project in Ghana.”
“This initiative is an important step towards cleaner, more sustainable energy solutions in Ghana. With the support of our partners, we are building a foundation that will not only benefit local communities and businesses, but also serve as a model for clean energy innovation across Africa,” he said. Erik NygardCEO of Kofa Technologies.