March 21st 2017, Cambridge, U.K. – Azuri Technologies is delighted to announce the appointment of Alexander Brummeler in the role of Head of Finance Innovation, based out of the company’s Head Office in Cambridge UK. This new role is part of the company’s commitment to developing a range of innovative financial solutions and supporting technologies to facilitate the rapid growth of its PayGo solar service in sub Saharan Africa.
Alexander brings a depth of investment and finance expertise, with 12 years of investment experience in private equity based both in Europe and Asia. More recently Alexander was Country Director for a solar light business based in Rwanda. Alexander will join the Azuri team to further strengthen the company’s access to international and local financing markets, which are key enablers in supporting sustainable economic growth across Africa.
The appointment follows Azuri’s $5 million partnership with Standard Chartered Bank to bring renewable power to thousands of households and small businesses across Sub Saharan Africa. This innovative debt finance mechanism is the first facility of its type to date for the growing off-grid solar market, allowing stock of manufactured product to be built before being transferred to Azuri’s distribution partners in country.
Alexander Brummeler commented: “I am delighted to be joining Azuri Technologies, a pioneer in the PayGo solar space, and a thought-leader in the development of innovative financial solutions. I look forward to working with different industry participants to help unlock scalable capital for the sector, which is essential for accelerating growth and maximizing social impact.”
Simon Bransfield-Garth, CEO of Azuri, said: “Alexander brings an impressive track record in the private equity sector, as well as a deep and long held commitment to building affordable energy products and services for rural off-grid markets. I am delighted that Alexander will be joining Azuri to expand our finance team”