Persistent Energy Capital, an impact venture builder of off-grid energy companies in underserved markets, announced that it has deepened its relationship with Altech, a leading solar retailer in the Democratic Republic of Congo.

1. October 19th
2018
Persistent Deepens Partnership with Altech, a Leading Home Solar Products Company in DRC
Persistent Energy Capital, an impact venture builder of off-grid energy companies in underserved
markets, announced that it has deepened its relationship with Altech, a leading solar retailer in the
Democratic Republic of Congo.
Altech was founded in 2013 by Washikala Malango and Iongwa Mashangao. Since then it has grown
rapidly, selling over 140,000 solar products through its 12 province distribution network. Off-grid
households in DRC are among the world’s poorest and their citizens the most underserved with grid
connected electricity. Households spend half of their daily income on candles, kerosene lamps and
other fuel in order to light their homes, charge mobile phones, power home appliances, and cook.
Altech and Persistent began working together last year with a small investment that enabled Altech to
launch a pay-as-you-go (PAYG) pilot project. PAYG involves selling solar home systems to off-grid
familes and businesses on credit. Persistent has made an additional investment which will enable Altech
to move beyond the pilot stage and begin to deploy PAYG products on a larger scale. Persistent has
also committed to provide its expertise as an impact venture builder and to invest additional capital in
the future to assist Altech in growth and expanision of its PAYG operations throughout the DRC.
Altech is the recipient of the 2018 SwissRe Foundation E4RA award and has received extensive support
form ELAN RDC, a UKAID market development project, and Ensemble Pour la Difference, a UK based
impact charity, in its development.
“70 million people living in the DRC do not have access to safe, reliable energy,” said Persistent Partner
and Co-Founder Chris Aidun. “Altech has made greater inroads into reaching this population than any
other company we have found. We are excited to deepen our collaboration with them. We have been
very impressed with what Washikala and Iongwa have accomplished and believe that they will build a
great company and reach over a million people with clean energy as we bring them the benefits of our
venture building model.”
Co-founder Washikala Malango said, “Persistent is the first private sector investor to provide Altech
with significant capital and a know-how sharing partnership.” Partner and Co-Founder Iongwa
Mashangao said “We are delighted that they want to expand their role with us and look forward to
growing with their help.”
For more information please contact jessica@persistent.energy.
About Persistent Energy Capital LLC
Persistent Energy Capital LLC invests in and builds impact ventures in underserved markets. By
providing deep operational and strategic support to exceptional entrepreneurs, Persistent helps build
companies that deliver competitive financial returns required for lasting social impact. Persistent
operates out of offices in Lagos, New York and Zurich.
About Altech Ltd
Altech is a leading distributor of solar lamps in the Democratic Republic of the Congo. They work to
enable off-grid households and institutions to have access to modern energy. They aim to reach 2M
customers by 2020, and positively impact the lives of over 10M people, while building Africa’s largest
and most reliable network for the distribution of clean energy products to bottom of the pyramid
customers and institutions serving them.