Quarterly update
Q1 2024 - News & insights
Q1 Report - 2024
Husk was ranked #24 in Fast Company’s 50 Most Innovative Companies in the World and #1 in the energy category. The company secured $20 million in debt financing from the European Investment Bank to grow its Nigerian minigrid fleet nearly tenfold, and welcomed its first woman to the C-suite.
Market focus
Husk operated roughly 300 community solar minigrids and continued building a commercial and industrial solar business for rural and peri-urban markets. Jatin Bali joined as Vice President for C&I in Africa, while SIDBI named Husk an official channel partner in India, opening access to project financing for rooftop solar.
Financial outlook
The EIB’s $20 million corporate debt financing will fund solar hybrid minigrids in 150 Nigerian communities, C&I rooftop solar, appliance sales, agro-processing and e-mobility. Husk had more than 20 minigrids operating in Nigeria and targeted at least 500 within five years.
Industry leadership
Husk named Anubha Shukla its first woman C-level executive as Chief Commercial Officer and continued its commitment to gender diversity and frugal innovation.
In the news
Below are highlights of recent Husk media coverage:
- Fast Company featured Husk’s rural energy innovation
- The World Bank published an in-depth case study of Husk’s integrated energy platform
- Husk continued its public-private partnership thought leadership