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Productive solar technologies draw investors as global off-grid solar sector funding slumps
Overall, the off-grid solar sector raised $425 million last year across 158 deals, with $281 million being debt.
PURE technologies include appliances and products like solar-powered water pumps, refrigerators, cold rooms and agri-processing equipment that allow improved or new revenue-generating activities, mostly in the agriculture sector. Laura Fortes, GOGLA senior Access to Investment manager, told TechCrunch the technologies are attracting interest due to their transformative impact on livelihoods through innovation. Yet, equity investment in household solar startups remained low in what GOGLA says signals a concerning failure to nurture new companies focused on electricity access that will be crucial for achieving electrification goals.
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