Open Energy Labs is raising £70,000 investment on Crowdcube. Capital At Risk.

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Teaching students in Africa how to build and maintain renewable electricity supplies, Open Energy Labs is an EdTech company with a purpose. Backed by the UK and Zambian governments, the business is raising on Crowdcube with the objective to develop its technology to deliver its programme to 110,000 students in Zambia.

£184,000 grant funding from the Global Challenges Research Fund
African e-learning market is worth £465m with 15.4% annual growth rate
Products sold to schools and technical colleges in Zambia
Backed by DFID and Zambian National Science and Technology Council

Idea

Recent research has shown that the electrification of Africa is being held back by a lack of local technical capacity to build and maintain renewable energy systems. But students can’t learn about electricity if they don’t have access to it. Therefore, educational institutions in Africa are forced to focus on theoretical learning, as they lack the resources to teach science effectively.

Open Energy Labs is developing an educational app and connected hardware kit which takes a “learn by making” approach to teaching students electronics, by building a renewable electricity supply, able to provide reliable power for lighting and mobile-phone charging. Our current technology is being used by Zambia’s two top technical colleges and we have MoUs under discussion with the Ministry of Higher Education and Ministry of Energy to roll out to a further 3,000 students.

With the e-learning market in Africa set to be worth £1.8b by 2024 we’re initially targeting universities, technical colleges and high schools in Zambia. We will then look to expand into other markets with initial contacts in Kenya, Tanzania and Angola.

We have received over £184,000 from Innovate UK through the Global Challenges Research Fund and have previously raised £67,000 from backers such as Bethnal Green Ventures and Energy4Impact.

To develop our technology and roll out our programme across Zambia, we need you!

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This pitch is approved by Crowdcube

This pitch is approved as a financial promotion by Crowdcube Capital Limited. Every pitch on Crowdcube is reviewed to ensure it is fair, clear and not misleading.

As part of our commitment to investor transparency, Crowdcube’s Due Diligence Charter outlines the analysis and verification that is conducted on equity fundraises on Crowdcube by our legal and compliance professionals.

Investments of this nature carry risks to your capital, including illiquidity, lack of dividends and dilution. Balance risk with a diversified portfolio. Read more. Approved as a financial promotion by Crowdcube Capital Limited, which is authorised and regulated by the Financial Conduct Authority.

Investment opportunities are not offers to the public and investors must be eligible Crowdcube members. Further restrictions and Crowdcube's limitation of liability are set out in the Investor Terms and Conditions. Please seek independent advice as required as Crowdcube does not give investment or tax advice.

Open Energy Labs has been given advance assurance by HMRC that the proposed share issue is likely to qualify for Enterprise Investment Scheme (EIS) tax relief.

Tax relief is available to individuals only, with income tax relief currently set at 30 per cent of the cost of the shares for the tax year in which the investment was made. The tax reliefs can also reduce your Capital Gains Tax bill. Read More.

Availability of tax relief depends on your individual and the company’s ongoing circumstances and applicable law.

Idea

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This pitch is approved by Crowdcube

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