EBRD approves $10M loan for Nigerian energy startup Beacon Power Services to support $20.9M grid modernisation project across six electricity distribution companies.
Amount Raised
$10 Million
Round Type
Debt Financing
ChicagoEnergySoftwareRenewable EnergyEnergy ManagementInvestors
Description
The European Bank for Reconstruction and Development (EBRD) has approved $10 million in financing for Nigerian energy technology startup Beacon Power Services to support a $20.9 million grid modernisation initiative. The EBRD loan will be complemented by $7.5 million in parallel financing, with equity investment covering remaining project costs. The funds will support deployment of smart meters and digital electricity management solutions across six of Nigeria's 11 electricity distribution companies. Beacon Power Services, founded in 2014, develops digital infrastructure solutions including platforms CAIMS, Adora and Xepp to help utilities manage networks and improve revenue collection.
Quick answer
Beacon Power Services raised $10 Million in a Debt Financing round, dated October 16, 2026. Investors: European Bank For Reconstruction And Development. Beacon Power Services is based in Chicago, Illinois, United States.
- How much did Beacon Power Services raise?
- Beacon Power Services raised $10 Million in a Debt Financing round on October 16, 2026.
- Who invested in Beacon Power Services?
- European Bank For Reconstruction And Development is named as investors in this round.
- What does Beacon Power Services do?
- Beacon Power Services is a leading provider of data and software solutions for Africa’s power sector.
- Where is Beacon Power Services based and how big is it?
- Beacon Power Services is based in Chicago, Illinois, United States. Fundz records about 51 employees.
Source: Fundz verified event record.
Who else raised in Energy and Renewable Energy around the same time
Companies in the same sectors as Beacon Power Services that raised within 45 days of this round, from Fundz verified event records.
- Novele raised $17M (Series A) on October 1, 2026.
- EnergyCAP raised an undisclosed amount (Private Equity) on September 23, 2026.
- Crusoe raised $3.9B (Series F) on September 17, 2026.
- Crusoe raised $3.1B on September 12, 2026.
- Exus Renewables raised $345M (Debt Financing) on November 12, 2026.
- BluWave-ai raised $5.7M (Series A) on November 12, 2026.
Who to call at Beacon Power Services, and when
A new round usually means Beacon Power Services is about to hire and buy. The teams that reach out first get the meeting.
- An alert the day Beacon Power Services raises, hires an executive or expands, scored against what you sell
- The decision-makers there, with verified emails
- Who you already know at Beacon Power Services, from your own LinkedIn network
Works inside ChatGPT and Claude. Ask who to call at Beacon Power Services. With Fundz connected, it knows.
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Fundz sees it the moment Beacon Power Services raises, hires an exec or expands, usually minutes after it happens, and tells you who to reach.
Beacon Power Services raised. Fundz records a round at a median of 3.6 minutes from the SEC filing, with the decision-maker attached.
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