Entrepreneur finds opportunity in hybrid power

Busayo Jegede is the chief executive officer of Almond Technologies Limited. The firm, established in 2000, plays in the broadband and internet spaces.

Jegede’s Almond Technologies ventured into renewable energy in 2011, having seen the challenges corporations face in a bid to power their businesses.

In Nigeria today, 40 percent of expenditures of businesses go into alternative power sources, particularly diesel, gas and maintenance.

In an interview, Jegede told Start-UpDigest that the company has delved into the hybrid power solutions to reduce the running cost for businesses.

“Before, we had the inverter, the public power supply and the generator. But our hybrid solutions combine them together and deliver them to the customer,” he said.

“We take care of the power system for our customers. Our staff will be there to help our customers. We want our customers to face their core operations while we face power,” he added.

He said the new product will reduce the cost of operations for businesses and is affordable for small, medium and large businesses.

Jegede said that the firm’s innovation is targeted at  removing challenges faced by technicians and artisans.

“We install the power such that once the public source fails, the inverter takes on. We have a minimum of 1.5 KVA and upto 100 KVA,” he disclosed.

According to him, the company is giving customers one year warranty, adding that maintenance is free.

“We are just taking a burden off businesses. If you look at the running cost of generators, you will discover that we are cheaper,’ he said.

On why Nigerians need renewable energy, he said: “Power supply is low. But renewable energy can easily be done by one or two persons within two weeks,” he said.

He said his firm is planning to build a 40-flat apartment in a high-brow area in Lagos, disclosing that it will go for as low as N30 million.

ODINAKA ANUDU