Uganda - Manufacturing - Solar Powered Products
This SME manufactures self-contained domestic solar water heaters which costs a quarter of the price of currently imported units, affordable for even low-income households. The heaters are a technological breakthrough that will benefit not only the rural poor in the developing world, but potentially developed markets as well. They are more reliable than current models, as they use less complex machinery, and use no electricity or fuel to operate, providing additional environmental benefit.
Building a Global Company During a Tough Time
To be sure, a recession poses plenty of challenges to a young company like RENEW. Many investors will hunker down and focus on businesses and business models with which they are comfortably familiar. But, as Daniel Roth of Wired writes (Back to the Garage: How Economic Turmoil Breeds Innovation), the instinct to turn insular during economic difficulty leaves the playing field wide open for up-and-comers: