Lumeter commits to partnering with five to ten solar manufactures to integrate Pay-As-You-Go (PAYG) technology into solar home systems and/or agriculture equipment by the end of 2016, along with another fifteen in 2017. They will also be expanding the Lumeter backend to include a lending and investor portfolio by February 2016.
Lumeter will actively work with Fosera solar to expand its PAYG portfolio to a minimum of ten countries in 2016, and 20 countries in 2017. They will also recruit Renewable Energy Providers (REPS), aiming for REPS in 30 or more countries by the end of 2016, and 50 in 2017.
Additionally, Lumeter will complete the Scaling Energy Access Loans (SEAL) pilot by November 2015, and launch the platform by January 2016 with ten REPS and a minimum of $250,000 raised for SEAL. Lumeter plans to raise a minimum of $2,000,000 for SEAL by the end of 2017.
The Commitments implementation includes several steps, beginning with the launch of its East Africa office. Secondly, Lumeter will be hiring business development staff to recruit REPS and manufactures, followed by two full stack developers to expand Lumeters backend and the SEAL platform. Lumeter will then develop partnerships with telecoms and integrators globally for easy mobile money integration. Finally, Lumeter will begin extensive networking with potential partners, investors, institutions, and crowdfunding to achieve SEAL funding goals.
Lumeter expects to face several challenges to project implementation, beginning with competitive PAYG companies, particularly in East Africa. They also anticipate challenges to managing exponential growth, currency fluctuation risks, and governmental changes on selling energy and mobile money regulations.
Lumeter will contribute a number of skills, expertise, capacity, and resources to ensure the success of their Commitment. Lumeters management team is a highly skilled team that has been working in energy access, start-ups, and high growth technology organizations. They have extensive experience directly in micro-solar home system social enterprises in Africa and India, and have proprietary PAYG technology in both hardware and software.
Lumeters Commitment partner Boma Investments will strengthen the Commitment with expert advice, presentations, media, and finances for the Lumeter and SEAL capital raise. Lumeters other Commitment partner Fosera has promised sales staff, technical staff, and global manufacturing/assembly lines to the PAYG products.
Lumeters project will begin in the fourth quarter of 2015 with its Infrastructure Development phase. This begins with securing office/incubator space and hiring two full stack developers, one Africa Business Development staff, and one Operations Coordinator. Lumeter will then enter the Technology Development phase, which includes completing lending backend development, and completing one agriculture product retrofit/integration.
The next phase will be SEAL platform development, beginning with a due diligence process development and piloting. Lumeter aims to have five REPs in due diligence. SEAL will be completed by the end of 2015 with $250,000 raised. Lumeter will conclude the fourth quarter of 2015 with their REP and manufacturer development phase, in which they will secure one manufacturer of solar home systems (SHS) or an agriculture equipment partner. Finally they will provide extensive PR/sales support for the Fosera and Lumeter partnership.
The first quarter of 2016 will begin with the REP and Manufacturer development phase of the project. This includes partnering with one or two manufactures of SHS or agriculture equipment, followed by adding two REPS to the Fosera portfolio, and two countries to the overall portfolio.
The second phase in the first quarter of 2016 will focus on the SEAL platform, beginning with the official launch of SEAL. Five investors will begin utilizing the platform, followed by an additional $250,000 added to SEAL. Finally, ten REPs will begin utilizing or begin due diligence.
In the second through fourth quarters of 2016, Lumeter will establish the REP and manufacturer development phase of the project. This will include partnering with one to two manufacturers of SHS or agriculture equipment per quarter for a total of five to ten manufactures in 2016. Two to three new REPS will be added to the Fosera portfolio per quarter for ten Fosera REPS and countries. Additionally, two to three new countries per quarter will be added to the overall portfolio, for a total of minimum of 30 REPs and 30 countries in 2016.
Also to be done in the second through fourth quarters of 2016 is the SEAL platform Development. This will begin with raising $250,000 per quarter for a portfolio of at least $1,000,000 in 2016. Next will be the recruitment of an average of five to seven new REPS per quarter to enter due diligence, along with hiring SEAL support staff.
The projects REP and manufacturer development and SEAL development phases will continue throughout the four quarters of 2017. This will again require partnering with one to two manufactures of SHS or agriculture equipment per quarter for a total of 15-20 manufactures in 2017. An additional two to three new REPS will be added to the Fosera portfolio each quarter for a total of 20 Fosera REPS and countries. Two to three countries will be added per quarter for a minimum of 50-60 REPs and countries in 2017.
For SEAL Development, at least $250,000 will be raised per quarter for a portfolio of a minimum of $2,000,000 in 2017. Finally, Lumeter will recruit an average of five new REPS per quarter to enter due diligence, for a total of 20 REPS entering SEAL in 2017.