Access to Energy for the Base of the - Ashoka

46
Mightylight: "5-in-1"
Project ability to solve the problem
Young Pakistani girl holding
a Mightylight
� Problem magnitude: globally 1.6b people without
electricity based lighting
� Cosmos solar lanterns benefits:
� Very bright (up to 400 lux, meets EU norms for
protection of eyesight reading)
� No lethal gas exhausts / fire risk
� Reduces household energy spending
� Provide power for other usages than lighting
(mobile charging, radios, etc.)
� Down to BOP500 targeted:
� Retail prices range from $10 up to $35
� Microfinance at $0.10 per day increases
affordability for low-income customers
� Needs addressed: energy and lighting for education,
household activities and livelihoods
� Sustainability:
� 5-10 years lamp life expectancy
� Replaceable battery (every 18 months)
� User manual in 14 languages
� Impact:
� 150k people benefiting of modern lighting
� 3kT CO2 emissions offset p.a.
Project economic viability Project scalability
� Cosmos for-profit approach from the beginning:
demonstrated up to 10% net margin profitability over
the last 3 years (audited measure)
� Up to 30% mark-up for distributors and volume
based bonus slabs
� Governmental lobbying:
� To reduce subsidies on kerosene
� To partner on non-subsidized solar LED devices
distribution approaches
� Successful Indian-based seed funding:
� ~$1m raised capital including private investors
(e.g., Vinod Khosla)
� Looking forward to Series A raising with advice of
KPMG
� No subsidies at all
Sources: Hystra analysis, Management interviews
� Unregulated market of billions of potential
customers
� Large global footprint:
� Currently active in Asia, Africa and Latin America
� 50% sales outside of India
� Limited competition:
★★★
★★★ ★★★
� Customers who experienced LED lighting prefer it
to kerosene lamps / candles
� Market is still "untapped": for-profit competitors
(e.g., D.light Design, Barefoot, SELCO, SEF) sold
50% cost
reduction in 4 years