Acumen Fund is pleased to announce a new investment in our Energy Portfolio. Husk Power Systems (HPS), based out of Bihar, India, will provide decentralized power generation to rural villages in India’s “Rice Belt” states of Bihar, Uttar Pradesh, and Orissa. The company will use novel biomass gasification technology to convert rice husks into combustible gases, which then drive a generator to produce electricity. Acumen Fund will invest US$375,000 in HPS, extending its commitment to investing in safe energy alternatives for the poor.
One of HPS's biomass systems in action in Bihar.
Acumen Fund’s investment in HPS recognizes the considerable potential for financial and social return in the renewable energy space. 350 million rural Indian households remain unelectrified, with at least 25,000 villages being declared “economically impossible” to reach via conventional means by the Indian government. In turn, many villagers use kerosene lanterns for household light and diesel generators for irrigation and commercial power, while fuel purchases require them to make lengthy trips on foot. HPS’s biomass system offers several potential benefits for villagers, including: lower cost of energy, improved household income, time & energy savings, and health benefits from cleaner power generation.
Our investment in HPS’s biomass technology is an exciting addition to Acumen Fund’s existing Energy Portfolio, which includes solar-lantern manufacturer D.Light Design, and micro-hydro turbine manufacturer SHREY. Collectively, these enterprises are helping to make clean and affordable electricity a reality to rural families around the world.
For more information on Acumen Fund’s investment, please refer to the Husk investment page and the official press release.
Tags: bottom of the pyramid, energy, Husk, India