Startups Profile

Daystar Power: Story, Founders, Investors & Funding Rounds

Daystar Power: Story, Founders, Investors & Funding Rounds

Daystar Power, also called Daystar Power Energy Solution, is a West African power company that serves commercial and industrial clients in Nigeria, Ghana, Togo, and Senegal.

It is a solar installation that is not connected to the power grid which is used by large businesses and institutions.

Daystar Power offers commercial customers in West Africa a variety of hybrid solar power options.

It is also the leader in its field when it comes to providing solar power and energy efficiency solutions to commercial, industrial, and agricultural clients. These solutions save a lot of money on electricity costs, fuel use, and pollution.

The service specializes in selling and installing hybrid solar power systems for a one-time fee or a monthly fee.

Most of the businesses that use this company are in the banking, manufacturing, farming, and mining industries.

Daystar Power gives commercial customers reliable, eco-friendly power that doesn’t break their capital expenditure budgets.

When their customers sign long-term contracts for their energy services, they can start saving money right away without having to put any money down first.

Daystar Power has 29 MW of solar power capacity as of now and By 2024, the company wants to have increased its capacity to 140MW and enable them to have a wider range of clients in finance, industry, and agriculture sectors.

How it Works

Technology

According to BuiltWith, the Daystar Power website makes use of a total of thirty-six technologies. A few examples are Viewport Meta, SPF, and the iPhone’s and other mobile devices’ connectivity.

Auditing

They maintain a log of the amount of electricity that is used during the in-depth site auditing that they do.

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Purpose

In a comprehensive proposal, they explain how the system operates and provide an estimate of the amount of money that can be saved on power bills.

Installation

Their very own trained professionals will install the system so that it is both risk-free and as efficient as it ought to be.

Operation

As the personnel who manage and maintain the system, it is also their responsibility to ensure that it is supplied with electricity in a manner that is consistent and dependable.

Founders

Jasper Graf von Hardenberg

Jasper Graf von Hardenberg started Daystar Power Company where he is also the CEO.

Jasper has a lot of experience as a manager and CEO. He is especially good at helping companies grow quickly in high-growth markets and sectors.

He has also been named a High-Impact Entrepreneur by Endeavor, which is the world’s leader in the high-impact entrepreneur movement.

Jasper attended the HEC business school in Paris and graduated with a Master of Science in Management.

He also attended the University of St. Gallen where he graduated with a Bachelor of Arts in Economics.

Christian Wessels

Christian Wessels is the President and Co-Founder of Daystar Power and Sunray Ventures. He is also a member of Endeavor.

Christian earned a degree in business administration from the University of Cologne.

Olaedo Osoka

As the Chief Executive Officer of Daystar Power Group, Olaedo Osoka is responsible for the company’s overall management. 

She is in charge of the growth of the company outside of Nigeria.

Olaedo got a first-class honors degree from the University of Essex and a distinction from the London School of Economics.

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She can form teams, manage, run, and communicate across all levels of an organization, as well as deal with complicated regulatory and stakeholder situations.

Additionally, she was the youngest CEO in the local real estate business.

Investors & Funding Rounds

Daystar Power has also raised $92 million through 8 rounds of investment and received money from eleven investors. The International Finance Corporation and KFW DEG are the most recent investors.

International Finance Corporation (IFC)

Daystar Power has obtained a $20 million credit from the International Finance Corporation (IFC) to support its growing projects in Nigeria,

The investment from the IFC is divided into two halves. IFC would lend Daystar Power’s Nigerian affiliate, Daybreak Power Solutions, $10 million in local currency.

The Energy Program for Africa, which is run by Canada-Renewable IFC, will give a subsidiary loan of an extra $10 million.

Main Competitors

Nova Lumos: It gives solar power to homes and businesses for people who live off the grid.

Joule Case: This is a company that sells generators that can be taken outside and run on batteries.

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