Impact Investment Exchange Asia (IIX) announced today that its Impact Partners platform has facilitated an investment of US$450,000 into Sun-eee Pte. Ltd. Mr. Ben Pwee, who is the founder and chairman of the Pwee Foundation and a recipient of IIX’s Impact Leader Award, led this deal.
Sun-eee Pte. Ltd. (Sun-eee)
Sun-eee is a Cambodian renewable energy company that addresses both the social problem of low penetration of electricity in rural areas and the environmental problem of a heavy reliance on diesel fuel.
Sun-eee aims to acquire a number of existing IPPs in this highly fragmented and under-served market. In turn, Sun-eee will generate clean and affordable power in these licensed areas by converting the existing diesel generators to a combination of biomass and solar technology while also extending the existing transmission networks to reach additional households. This will enable Sun-eee to offer low-cost, reliable power in these under-served markets and help to improve the lives of thousands of rural Cambodians.
“I am glad to have worked with IIX in securing this round of investment which has allowed me to purchase an IPP, replace the diesel-based charging stations with solar and biomass power plants, while aggressively expanding the transmission line network. These are the first steps to providing affordable energy to rural villagers in Cambodia. We will implement additional renewable energy power plants in the future to improve the quality of life for disadvantaged people and to reduce the greenhouse effect while protecting existing energy resources.” – Sov Leang, Founder, Sun-eee
IIX introduced Sun-eee to a group of angel investors who provided US$450,000 of funding in the form of convertible notes. This capital has enabled Sun-eee to purchase its first IPP and commence commercial operations. IIX continues to work with other potential investors with the goal of raising up to another US$3,000,000 in capital for Sun-eee.
IIX provided Sun-eee with exposure to investors through its Impact Partners platform, opportunities to present at events and facilitation of meetings with interested investors. With the Support of Asian Development Bank’s ‘Energy For All’ program, IIX was able to offer Sun-eee technical assistance in preparation for engaging with potential investors.
“IIX started working with Sun-eee after the company had completed a successful pilot and was looking for investment capital to scale the business. Over the last few months, we have worked closely with Sun-eee to refine their financial model and are thrilled to see that all the work has paid off with this investment. We look forward to continue supporting Sun-eee as it grows and brings prosperity to rural Cambodia.” – Robert Kraybill, Managing Director, IIX.
Impact Investment Exchange Asia (IIX) is a Singapore-based organization with a mission to provide Social Enterprises (SEs) in Asia greater access to capital, allowing them to more rapidly expand the impact of their activities.
IIX offers three investment platforms – Impact Incubator, Impact Partners and Impact Exchange. Impact Incubator focuses on raising seed capital for start-up SEs while Impact Partners is a private placement platform dedicated to growth-stage SEs that are seeking expansion capital. IIX also recently announced the launch of Impact Exchange, operated by the Stock Exchange of Mauritius in collaboration with IIX. Impact Exchange is the world’s first “social stock exchange”, a regulated stock exchange dedicated to listing and trading securities issued by mature SEs and other socially-driven organizations. IIX’s sister not-for-profit company, Shujog assists in capital raising through its proprietary impact assessment, research, advocacy and advisory work.
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