Nigerian Energy Pioneer "Shyft" Joins Forces with SteamaCo

Ugwem Eneyo, SHYFT Co-founder & CEO

SHYFT Power Solutions, a Nigerian pioneer in digital energy solutions, has been acquired by UK-based SteamaCo, marking a significant step towards revolutionizing Africa’s energy sector. The acquisition coincides with a new funding round led by Equator VC, with participation from Praetura Ventures and KawiSafi Ventures.

SHYFT, known for its IoT-powered hardware and integrated software, offers innovative energy management systems, including its patented metering and control solutions. The company has been instrumental in addressing energy challenges and enhancing power experiences in emerging markets.

SteamaCo, an Anglo-African company specializing in energy revenue management, aims to empower energy providers in delivering reliable and affordable power. The collaboration is set to build smarter, more resilient energy infrastructure while driving digital transformation across the continent.

"Our vision goes beyond delivering cutting-edge technology; it’s about transforming the energy experience of power providers and their consumers," said SHYFT CEO Ugwem Eneyo.

Source: Tom Jackson / Disrupt Africa