September 24, 2024

This Ghanaian Startup Just Got $5M To Expand Its EV Battery Swapping Network

Kofa Technologies

Kofa Technologies, a Ghanaian company specializing in portable clean energy solutions, has announced an expansion of its battery-swapping network, supported by a £6.15 million (approximately $5 million) initiative. 

The project, led by Kofa and impact investor PASH Global and backed by Shell Foundation, the UK Government, and PASH Global, aims to accelerate electric vehicle (EV) adoption and clean energy access in Ghana. 

EV Battery Swapping

Kofa’s battery-swapping network aims to provide a sustainable, cost-effective solution to reduce urban pollution and boost EV adoption.

The system allows users to swap depleted batteries for fully charged ones, ensuring uninterrupted access to energy. 

This not only reduces the reliance on petrol-powered motorcycles but also supports small businesses currently dependent on petrol generators.

Preliminary research suggests that electric motorcycles in Ghana are already up to 20% cheaper to operate than their petrol counterparts, with further savings expected as battery prices decline. 

Driving Clean Energy Forward in Ghana

The project, co-funded by the UK Government and Shell Foundation, will focus on deploying 6,000 batteries and 100 battery-swap stations across Ghana. 

PASH Global, which leads the operational and maintenance efforts, has also committed to transforming the battery-swap stations to run entirely on solar power, further boosting the initiative’s environmental impact.

It was officially launched by Lord Collins of Highbury, UK Parliamentary Under-Secretary of State (Africa), on September 17, 2024, in Accra. 

“This collaboration not only strengthens the UK-Ghana relationship but also promotes a greener, more resilient future for Ghana,” said Lord Collins during the event.

“With the support of Shell Foundation and the UK Government, we are laying the groundwork for clean energy solutions that benefit not only local communities but the whole continent.,” said Erik Nygard, CEO of Kofa.


Feature Image Credit: Kofa Technologies

Sara Keenan

Tech Reporter at POCIT. Following her master's degree in journalism, Sara cultivated a deep passion for writing and driving positive change for Black and Brown individuals across all areas of life. This passion expanded to include the experiences of Black and Brown people in tech thanks to her internship experience as an editorial assistant at a tech startup.