SteamaCo, a UK-based leader in energy revenue management, has announced that it has merged with Shyft Power Solutions, a Nigerian innovator in digital energy solutions
SteamaCo has more than a decade of experience providing advanced metering infrastructure (AMI) to energy companies across the continent. Its flagship product, Nimbus AMI, helps users manage their networks, detect losses and enhance customer service. Meanwhile, Shyft Power Solutions entered the Nigerian market around eight years ago with its cloud-based distributed energy resource management system and diesel management solutions. Its latest metering solution, FlexView, offers enhanced reliability and allows energy consumers to monitor usage in near real-time.
Uniting the two pioneers in advanced metering solutions, the merger is expected to pave the way for rapid expansion into the grid-connected market and increased consumer reach. It comes at a critical time as regulatory changes have opened up new investment opportunities for independent power producers and utilities and the need for reliable power across the continent continues to grow in urgency.
“Our vision goes beyond delivering cutting-edge technology; it’s about transforming the energy experience of power providers and their consumers,” remarked Shyft’s CEO, Ugwem Eneyo. “Alongside our customers, we can leapfrog inefficient grids and build more intelligent, resilient infrastructure. Power plays a critical role in economic advancement and enabling sustainable cities, so catalysing digital transformation with our solutions is a part of our overall commitment to enabling smart cities and sustainable communities.”
Tom Parkinson, MD of SteamaCo, added, “This merger greatly boosts our ability to grow in African markets. By combining our advanced metering technology with Shyft’s local expertise, we can better meet our customers' specific needs. Together, we will foster innovation, improve our services, and provide effective, customised solutions to Africa's energy issues.”
Revolutionising Africa’s energy sector
The announcement was also delivered alongside the news of a new funding round led by Equator VC with participation from Praetura Ventures and KawiSafi Ventures. Collectively, these bring decades of experience investing in African and climate-tech ventures.
“This merger represents a pivotal moment in the evolution of energy management across Africa," surmised Nijhad Jamal, managing partner of Equator. “We are creating a powerhouse capable of addressing critical energy challenges. This integration will enhance the sector’s ability to deliver reliable, smart metering solutions and drive significant progress in closing the energy access gap in Africa.”
Merger to drive digitisation of Africa’s power grids
Advanced metering technology will transform Africa's electricity industry by providing real-time monitoring, accurate billing, and enhanced energy management. (Image source: Adobe Stock)
