NoorNation, an Egyptian climate-tech startup, has received an undisclosed investment from KBW Ventures, which was founded by Saudi Prince Khaled bin Alwaleed, to help it scale.
NoorNation, founded in 2021 by Ragy Ramadan, offers the off-grid industry in Egypt and Sub-Saharan Africa technologically enabled decentralized energy and water infrastructure solutions.
The company’s primary product, LifeBox, provides affordable clean energy and pure water to farmers, rural communities, and tourism-related enterprises. LifeBox is a creative mobile green infrastructure solution that is made and built in Egypt and provides safe water and clean electricity at a reasonable cost.
“LifeBox is a solar-powered, self-contained, and quickly deployed unit that directly contributes to the industrial localization movement and sustainability governance. It gives peace of mind to our customers, farming, and tourism businesses, and rural communities to achieve their triple bottom lines: social, financial, and environmental growth,” said Ragy Ramadan, founder and CEO of NoorNation.
“The need and relevance for what they are doing is a win-win. Their business model fits squarely in our wheelhouse—a sweet spot of climate technology. During the final judging round, NoorNation was examined through the lens of three criteria: social need, geographic scalability, speed to market, and efficiency. We use these same metrics as part of our due diligence process at KBW Ventures, alongside several others,” Ramadan said.
To help it grow, KBW Ventures has now contributed an unknown sum of money to the firm. When NoorNation made their pitch at the PepsiCo Greenhouse Accelerator Programme: MENA Sustainability Edition finals, KBW founder Prince Khaled stated to have recognized the company’s potential “immediately.”
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