30% Match Funded
36 months to mature 5.5% interest

BBOXX Capital Ltd - Issue 6: 5.5% Bond

£106,950
Raised

22
Investors

15
Days to run

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invested £175 invested

Each £175 invested will enable one family to buy a four light solar home system on a flexible payment plan to meet their needs.

households 1,080 families

Your investment into BBOXX Capital Ltd will allow them to expand their operations in eastern DRC to provide clean energy to 1,080 families.

BBOXX Ltd is a UK company that began operations in 2010. Their products have been sold in 35 countries, which has provided approximately 675,000 people in the developing world with access to smart, clean, and affordable energy solutions. They are a vertically integrated company, controlling every part of their customer experience; both as manufacturer of their BBOXX Home Solar Home System and as an off-grid energy service business. BBOXX has ambitious plans to provide 20 million people with access to clean, affordable energy by 2020.

This project benefits from match funding from UK aid. UK aid are providing a total of £60,000 of match funding into this offer, meaning that for every £10 invested into this project by the crowd and additional £3 will be invested through match funding.

About BBOXX

  • Sold more than 135,000 systems since 2010
  • Providing approximately 675,000 people with access to solar energy
  • BBOXX Capital Ltd was founded in 2013 with head offices in London, UK.
  • Main operations in Rwanda, Kenya, Nigeria, Democratic Republic of Congo & Togo.
  • Directly employs 425 people across the countries in which they operate
  • Global Cleantech Top 100 company 2017 & 2018
  • Turnover of £11 million in 2017
  • Key product information

    Issuer: BBOXX Capital Ltd

    Issuing Country: United Kingdom

    Investment target: £200,000

    Minimum investment: £50

    Maximum investment: No maximum

    Maturity: 36 months

    Expected interest rate: 5.5% per annum

    Witholding tax rate: 20% (applicable to UK residents who do not invest within an IF ISA)

    Interest payment frequency: 6 monthly

    Notional repayment: 6 monthly

    Financial instrument: Unsecured interest bearing bond

    Security: Unsecured

    Key risks

    This is a bond issued by a single company (rather than a savings product) and therefore it is recommended that you are careful with the amount you invest.

    You must read the investment memorandum (provided below) where a full statement of risks is presented.

    Documents

    BBOXX in the media

    What the project investment will enable

    BBOXX published a report in June 2018 to look at the opportunities and challenges of expanding their operations in DRC based on an initial pilot conducted in the Eastern city of Goma.


    The report finds that DRC presents a unique opportunity in the Pay-As-You-Go (PAYG) solar market - having a large urban population, but electrification rates of just 8% . With 62 million people living without access to the grid, it is also the largest off-grid market in the world without a major PAYG solar company currently operating. In fact, the state utility has just 500,000 connections in a country of 80 million people , and a look at the reliability of a grid connection might explain why DRC’s urban population would see connection to a reliable SHS as a brighter alternative!


    The full report can be downloaded from the Shell Foundation website here.


    BBOXX have plans to be present in 10 major cities across DRC by 2020 with the target of installing a further 85,000 solar home systems. Looking forward to 2025 their goal is to become the biggest energy provider in the country. BBOXX will use 90% of the funds from this raise to install 1,080 of their flagship BBOXX Home systems and will use 10% to install 29 BBOXX Enterprise systems across the DRC from their distribution centre in Kigali.


    BBOXX's Solar Home System, BBOXX Home, is Lighting Global Quality verified. BBOXX Home comes with a 50W solar panel and 17Ah battery, 4 LED lights (with a total output of 470 lumens), 2 USB ports, 6 12v ports, which can be used for running other appliances and a TV (optional).


    The BBOXX Home systems can also be pay-as-you-go enabled. Customers make repayments and then own the systems outright typically after 36 months (but can vary depending on their personal Hire Purchase Agreement). After the fixed term, customers pay a monthly Energy Service Fee in order to cover maintenance costs.


    BBOXX Capital Ltd

    BBOXX Capital Ltd are looking to raise £200,000 from this bond issue as working capital to help expand their operations after their recent market entry into DRC. The money will be used for purchasing stock, which will be distributed across the eastern cities of Goma and Bukavu on the border with Rwanda. These are the optimal entry points for BBOXX into this market allowing them to serve 2 of the largest cities in DRC while leveraging their existing operations across the border in Rwanda.


    BBOXX are currently supplying 550 families in DRC with clean, reliable electricity but with a combined population of close to 1.9million in these cities, BBOXX believe there is the potential for them to service up to 80,000 households with their SHS products.


    Social and environmental impact

    Solar home systems, such as BBOXX Home, have been shown to have a significant impact on customers' lives and the environment. To date, BBOXX has sold more than 135,000 systems, with the potential to provide approximately 675,000 people with access to solar energy.

    Social Impact

    Social Impact

    The installation of solar home systems to off grid families has significant impacts that can be divided into the following categories: lifestyle, flexibility, health and safety, and economic. A recent (December 2017) survey of BBOXX customers revealed:

    89%

    of customers are not connected to the grid

    87%

    of customers said that their BBOXX SHS was the first product they had bought on credit

    66%

    of customers were previously using kerosene as their main source of light before accessing BBOXX

    39%

    of previous kerosene users reported having fire-related accidents from using it

    88%

    of previous kerosene users reported health issues from using it

    95%

    of customers said that pay-as-you-go as a payment method suits them

    Environmental Impact

    Environmental impact

    Using industry-recognised Global Off-Grid Lighting Association (GOGLA) impact metrics, BBOXX has calculated the environmental impact of installing 1,080 BBOXX Home systems as follows:

    5,400

    Number of people who will enjoy clean energy access

    $199USD

    Average new household saving on energy-related expenditure over solar product lifetime

    0.39tonnes

    Total greenhouse gas emissions offset per household over the lifetime of the product

     

    Frequently Asked Questions