Kingo Energy Announces Investment from Leonardo DiCaprio
Kingo, a pioneer in decentralized clean energy services for off-grid communities, announced today that Leonardo DiCaprio has joined the company as an investor and member of its board of advisors.
“We are honored to have Leonardo DiCaprio, someone who is seriously committed to addressing climate and environment-related causes, invest in Kingo and join our board of advisors,” said Juan Fermín Rodriguez, founder and CEO of Kingo. “Leo will help advise Kingo as we work to achieve growth through expanded R & D capabilities and new market entry strategies. We remain committed to developing innovative solutions to the 1.2 billion people who currently live in the dark.”
Kingo is creating the largest clean energy user base in history by offering decentralized prepaid energy services to families and businesses in off-grid villages across the world, all at a lower cost than candles, kerosene, diesel, and soon, the grid itself. The Company is playing a spearheading role in the fight against energy poverty by unlocking access to productivity, connectivity, and resources that catalyze development.
Kingo targets households at the bottom-of-the-pyramid (BoP), providing disruptive solar energy technology that offers exponentially increasing value over time at accessible prices. Customers do not pay installation fees or maintenance costs, further reducing their financial burden.
“Solar power is key to a future without fossil fuels, and Kingo’s technology will help enable broad use of clean energy across the developing world,” said Leonardo DiCaprio. “I am proud to invest in Kingo as they seek to eradicate energy poverty, and I look forward to serving as an advisor to the company.”
Kingo has become a fast-growing multinational company that services more than 60,000 households across the developing world. The Company continues its remarkable evolution, and is installing around 7,000 new systems each month. 92% of its customers report saving money, 81% report improved educational performance for children, and 86% report increased productivity.
After demonstrating its ability to generate socially responsible value for its customers and stakeholders, Kingo is now extending its international borders, and investing heavily to enhance energy generation and storage technologies. The company is also integrating emerging exponential technologies like Blockchain, AI, and IoT into the mix as the means to eliminate energy poverty. By using these technologies, Kingo is creating the largest clean energy user base in history, empowering 500 million people by 2035.
A video, created by Ogilvy Guatemala and Ogilvy Colombia can be found here.
Kingo was founded in Guatemala in 2013 by Juan Fermín Rodriguez, Matias de Tezanos (CEO of PeopleFund), Alvaro Rodriguez, and Peter Kasprowicz, four entrepreneurs looking to improve human lives by providing clean, safe, off-grid electricity at a lower cost than existing alternatives. The Company's executive team includes experts in mass consumer markets, telecommunications, software, and energy.
Since its founding, Kingo has raised $25.0 Million in several equity and debt rounds led by prominent investors and institutions including the global pioneer in value added investments (PeopleFund), the largest utility in Europe (ENGIE Rassembleurs d'Energies), and the innovation fund of one of the largest utilities in Latin America (FCP, from EPM). Kingo has also raised funds from the Dutch Development Bank (FMO), the French Development Bank (Proparco) and the Inter-American Development Bank (IDB); all of whom are looking to provide significant funding over the next years for Kingo’s global expansion and technology developments. Other key partners include Leonardo DiCaprio, who has joined the Company as an investor and advisor. Kingo has also partnered with award-winning agency network Ogilvy & Mather, through its Colombia & Guatemala offices, to launch Kingo’s vision into the world.
Kingo delivers its prepaid energy service using robust and intelligent proprietary technology. This includes its smart energy systems called Kingos and its cloud-based suite of data management software. With Kingo's prepaid solar energy service, users can readily and inexpensively access tools that enhance their productivity, connectivity, and overall wellbeing. For more information visit: http://www.kingoenergy.com