Open Capital supported PayGo Energy in their acquisition by Sun King, a solar energy company that provides clean, safe, affordable solar power systems to households without reliable energy access.
PayGo Energy was seeking financing to boost the production of and scale their clean cooking solutions. Having successfully supported PayGo Energy in raising capital before, PayGo Energy recruited Open Capital to assist in raising finance. Open Capital built investor materials and supported their discussions with various investors. This support enabled them to navigate discussions with multiple investors, including, Sun King, who eventually acquired them.
In joining Sun King, PayGo Energy — now Sun King’s new Clean Cooking Team — is well-positioned to increase access to clean cooking solutions for billions of people who rely on wood and charcoal cookstoves by leveraging Sun King’s distribution, production, finance and retail know-how and infrastructure and by tapping into Sun King’s established partnerships and large existing customer base.