Sun King, an off-grid energy company, has acquired PayGo Energy, a pay-as-you-go technology innovator for clean cooking, to help families in Africa and Asia shift from wood and charcoal cookstoves to cleaner and safer alternatives.
Sun King aims to develop a range of clean cooking products that will be powered by solar energy, LPG, electrical grids, and other energy sources. The company will also offer consumer financing services, allowing African and Asian customers to pay for energy and equipment in small, affordable instalments.
Sun King's newly established Clean Cooking Team will work on developing a variety of clean cooking products and services that reflect the diverse cooking practices and available energy supplies of their customers.
PayGo Energy's team of 40 employees will also join the company and bring their expertise in pioneering finance, technology, and distribution solutions to clean cooking challenges.
Sun King recently raised $330 million through its Series-D funding round and is quickly expanding its pay-as-you-go solar product line and distribution network. The company is introducing more powerful off-grid solar technology and expanding its presence to additional African countries.