Ghanaian startup Kofa that deals with battery network solutions, is expanding its battery-swapping network across the country with the launch of a $8 million special purpose vehicle (SPV).
Kofa’s mission is to establish an affordable, customer-centric electricity network powered by portable batteries and renewable energy.
At the heart of this initiative is its Kore2 battery system, a versatile, high-capacity battery, alongside a growing battery-swapping network aimed at promoting sustainable energy solutions throughout West Africa.
As part of its ambitious expansion, Kofa has announced plans to enter the Kenyan and Togolese markets. It has also partnered with impact investor PASH Global to boost its battery-swapping infrastructure in Ghana, supported by a $3 million investment from Shell Foundation, co-funded by the UK Government’s Transforming Energy Access (TEA) initiative.
An additional $1.8 million from Shell Foundation and TEA will go toward financing electric bikes, researching the impact of Kofa’s battery technology, and covering operational expenses.
This innovative collaboration, led by Kofa and PASH, aims to deliver clean, affordable energy for electric two-wheelers while providing power to small businesses and households that currently rely on petrol generators. By displacing these generators, the project aims to cut fossil fuel consumption significantly.
Kofa will focus on managing the battery network and supporting SPV operations, ensuring users have access to fully charged batteries anytime. PASH will assist with operational maintenance, deployment, and management of battery swap stations.
The project aims to deploy 6,000 batteries and up to 100 swap stations across Ghana, ensuring widespread access to energy while fostering the transition to clean energy and the broader adoption of electric vehicles (EVs) across Africa.
“This initiative is a significant step toward 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,” said Erik Nygard, CEO of Kofa Technologies.