OffgridSun, Italian company specialized in solar solutions for areas with no access to the electrical network, launched an equity crowdfunding campaign.
OffgridSun intends to play a significant role in “lighting” areas in developing countries where there is no access to the electrical network. This is why the Italian company specialized in developing, engineering, producing and distributing solar technologies launched an equity crowdfunding campaign.
Equity Crowdfunding is a form of investment that allows an audience of investors to finance innovative startups and small and medium-sized companies in exchange for shares in the companies themselves. The transaction is done securely through an authorized portal, in our case BacktoWork, Italy’s largest Hub in the field.
Investors in innovative start-ups benefit of a direct deduction from IRPEF (or IRES, in the case of corporations) equal to 50 percent* of the amount invested. There are no other tax relief measures for taxpayers of this magnitude in Italian tax law.
*Pending implementation of the “Decreto Rilancio”.
OffgridSun was created in 2016 in Veneto by a twenty year experienced team and is today leader in distributing 12 V photovoltaic modules in Italy. Those modules are ideals for public lighting, street lighting and on the boating and camping markets.
OffgridSun is the only Italian company belonging to the Lighting Global program, the World Bank platform (WB-IFC) promoting the sustainable growth of the solar off-grid market as a mean to quickly expend energy access.
Its aim is to contribute to providing energy to those 1 billion people that live today in rural areas without access to the electrical network, going from basic lighting needs to more complex solar plants such as mini-grids.
The Energy Station products already improved the life of more than 361 000 people, thus helping replacing highly polluting and dangerous lighting systems such as petrol lamp, candles, torches and other systems fuelled by fossil energies and that are still very much used today, especially in Sub-Saharan Africa.
The company launched its first equity crowdfunding campaign to expend its presence in Africa, more precisely in Ethiopia and in West Africa (ECOWAS). It will also be useful for developing the innovative Pay-as-you go system, allowing households with a very limited purchase power to face a lower entry barrier for the purchase of solar products.
“We have been working in Africa for many years with a lot of experience in off-grid, and today we are ready to go even further” says Nicola Baggio, founder and CEO of OffgridSun. “Today, a solar panel cost 20 times less than 15 years ago and is almost twice as efficient. Thanks to the development of storage technologies it is possible to meet lighting basic needs as well as satisfying the consumptions of schools, hospitals, farms and entire villages thanks to mini-grids. Said “poor” countries are paradoxically in advance on what we will experience soon also in Europe and Italy, that is to say households completely autonomous, not connected to the electrical network. That is why we have been realizing for years off the grid solar plants on cottages and isolated households from Norway to Spain.”
BacktoWork24 platform was chosen by OffgridSun to launch its equity crowdfunding campaign in order to increase its capital.