Orrick Advises Impact Investor responsAbility on an $8 Million Financing for a Green Energy Supplier

May.09.2022

Orrick represented responsAbility Investments AG, a leader in impact investing, focused on private debt and private equity across emerging markets, on an $8 million working capital facility for next generation utility provider Bboxx. The proceeds of the facility will allow Bboxx to stabilize and expand its manufacturing facilities in Asia, supporting the company’s continued efforts to manufacture and supply innovative products to bolster access to utilities in communities across Africa.

Headquartered in Zurich, responsAbility is a leading impact asset manager with $3.7 billion in assets invested in over 300 ESG-vetted high-impact companies in 76 countries. Since its inception, funds managed by responsAbility have provided over $11 billion in debt and equity financing to companies active in the areas of climate finance, financial inclusion, and sustainable food, whose business models directly contribute to the United Nations Sustainable Development Goals.

Next-generation utility provider Bboxx is an industry leader in the manufacturing, distribution and financing of decentralized solar powered systems in developing countries. Through its affordable, reliable, and clean utility provision, Bboxx is bringing people into the digital economy, creating new markets and enabling economic development in off-grid communities and those living without a reliable grid connection. The company is positively impacting the lives of more than 2.5 million people with its products and services in over 27 markets, directly contributing to 11 of the 17 United Nations Sustainable Development Goals. Bboxx has over 1,000 staff across nine offices including in the Democratic Republic of Congo, Kenya, Rwanda, and Togo.

The Orrick team was led by partner Madeleine Horrocks assisted by managing associate Franco Lambiase. W.S.Chong & Co Solicitors advised responsAbility on matters relating to Hong Kong law.