Page 11 - Vol 33 Issue 34 2021

products & projects

training and workers. energy storage industry.
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Homegrown Battery Manu fac turer Caltex Service Stations To Be
Secures Investment Rebranded “Astron Energy”

I-G3N, the only black empowered female-owned SME to successfully All Caltex-branded service stations in South Africa and Botswana are to be
develop lithium-ion batteries specifically for the African continent, has rebranded Astron Energy in one of the most significant and exciting events
successfully raised R 20 million from Edge Growth and the ASISA ESD
initiative.
Recognising I-G3N’s capability in designing developing and manu fac-
turing battery energy storage systems, Edge Growth and the ASISA ESD
initiative have partnered
with Secha Capital, an
impact fund manager
that shares a common
vision of creating value in the local fuel industry for almost three decades.
via financial returns, job Astron Energy is South Africa’s second largest petroleum network with
creation, funding of local, over 850 Caltex-branded service stations in SA and Botswana.
black-owned busi nes ses The rebrand means Astron Energy becomes the overarching brand
and positive en vi ron men- across corporate, commercial and retail, and will be the public face of the
tal outcomes. Company at all forecourts and other key sites. This is an important step in
“Edge Growth and the Astron Energy’s ambition to become the biggest fuel brand in South Africa.
ASISA ESD initiative are The name change follows the 2018 majority acquisition of the former
excited to partner with both Chevron South Africa Pty (Ltd) by Glencore South Africa Oil Investments
I-G3N and Secha Capital in a (Pty) Ltd, since which time Astron Energy has been operating the Caltex
transaction that embodies our brand under a licence agreement. Astron Energy has now taken the
mission to invest in local, impactful, opportunity to consolidate its operations under a single, unifying brand
innovative and high-growth businesses, identity.
and to team up with outstanding, values-aligned The existing network of over 850 Caltex service stations in South Africa
and value-adding investment partners,” says Shrivar Mohan, Investment and Botswana will be rebranded in a phased manner as part of an exciting
Principal at Edge Growth. site refresh and upgrade initiative to be undertaken over the next few
“We’ve observed explosive growth in the energy storage market globally years.
and, more importantly, locally due to national grid instability and rising Astron Energy Interim CEO, Braam Smit, said: “This is a once-in-a-
electricity costs. With further governmental and regulatory support for generation opportunity to reimagine and reinvent ourselves as a leading
decentralised energy generation, we expect this trend to continue in SA African energy company with a proud legacy and a very promising future.
and across the continent,” he says. Astron Energy has a deep commitment to Africa, its people, and the
I-G3N is part of a handful of local lithium-ion battery manufacturers development of the continent. This is an important step in our ambition to
that serve over 60 000 installers of solar and backup power systems in become the biggest fuel brand in South Africa.”
Southern Africa, with their high-quality products having amongst the Astron Energy’s General Manager: Marketing, Cambridge Mokanyane,
lowest failure rates in the market. commented: “We understand that petroleum companies are increasingly
“We are excited to partner with the ASISA ESD initiative and Edge offering more than just fuel at their service stations. Diversification is key.
Growth as we work towards our mission of providing accessible and We are putting a lot of work and imagination into both fuel and non-fuel
affordable clean energy for all of Africa. This investment will help us meet retail offerings. We’re adapting to the changing competitor landscape
the increasing demand for high quality, locally made, and trusted battery and our customers’ needs. We’re innovating and unlocking value for all
storage solutions,” says Tumi Mphahlele, Chief Operations Officer, I-G3N. our stakeholders, and making sure the customer experience is front and
“With load-shedding becoming endemic in South Africa, and the centre in our new strategy to become the largest player in South Africa.”
recent change in electricity regulations for generation up to 100MW, this Smit said the rebrand is the most significant and exciting change in the
investment will help us serve larger segments of this growing market. We South African oil industry in three decades. “We’re moving from managing
see the greatest impact of our solutions and products helping the average a brand to owning it. We will continue to offer customers high performance
business and household that is looking for a simple way to keep the power fuels, quality products and great service delivered by excellent people, as
on for remote work and learning - providing families with a quick and well as exciting new offerings and experiences as part of the vibrant, new-
effective solution to be able to live without the fear of load-shedding.” she look Astron Energy.”
says.
This investment and partnership will not only help to unlock growth
in I-G3N’s key target sectors but will also ultimately increase adoption
of renewable energy, create jobs and upskill local talent in the growing

AFRICAN POWER Mining & Oil Review Vol33 Issue 34 2021 | 11