Innovate UK Catalyses Charm’s Growth

In February 2019, we were thrilled to secure a research and development grant from Innovate UK, funded by the Department for International Development, along with just 17 other projects as part of the Energy Catalyst Round 6.

The project’s public description is:

The financing gap for off-grid solar projects in Sub-Saharan Africa and South Asia is estimated at over $2bn over the next 5 years. Without additional sources of funding energy start-ups and companies working in emerging economies, will not have the capital to scale their businesses, which would improve energy access, reduce carbon emissions and improve gender equality and social inclusion.

Omni Impact Investments (now Charm Impact) is executing a feasibility study to trial novel methods of matching investors with energy startups in emerging economies, to attract greater investment into energy access projects in emerging economies. The project will look to test out a number of underlying technical methodologies, develop an exceptional user experience and continue the development of the Omni network.

The aim of the Energy Catalyst programme is to support “highly innovative, market-focused energy solutions… meeting the needs of people, business and services in Sub-Saharan Africa or South Asia”. All projects must address the energy “trilemma”, namely cost (of energy), emissions and security of supply. The Energy Catalyst is part of the UK Transforming Energy Access (TEA) initiative.