Powerlabs’ Evolve Solar Generator Project

The Evolve Solar Generator (ESG) project by Powerlabs Limited has achieved remarkable milestones since its inception. Created with a vision to provide uninterrupted power, ESG is designed for both residential and business use, targeting a wide range of customers from SMEs to large conglomerates. This clean energy innovation aligns with Powerlabs' mission to light up Africa, promoting sustainable development through locally sourced, eco-friendly solutions.

Key Milestones and Achievements

Product Development and Launch: The ESG achieved TRL9 (Technology Readiness Level 9), marking it as fully developed, rigorously tested, and market-ready. This level signifies a product that has been refined through prototyping, testing, and integration, showcasing the reliability and advanced features of ESG in real-world environments.

Revenue Growth: Within the second quarter of 2024, Powerlabs recorded N14.7 million in revenue, validating the market’s demand for the ESG and highlighting its potential in the growing clean energy sector.

Eco-Friendly Manufacturing: Over 90% of materials used in ESG are sourced locally, reducing reliance on imported resources and boosting local industries. Additionally, the ESG's modular design includes fire-retardant and tamper-proof elements, ensuring safety and durability.

Strategic Partnerships: Powerlabs has formed alliances for material sourcing, engineering training, and after-sales services, creating a sustainable ecosystem for ESG's long-term success and customer satisfaction.

Significant Impacts

Environmental Impact: By utilizing recycled materials and reducing carbon emissions, the ESG supports Nigeria’s climate-related goals and aligns with global clean energy initiatives. This sustainable production model helps lower waste and reduces dependence on fossil fuels, contributing positively to the environment.

Economic Empowerment: ESG’s local sourcing supports Nigeria’s economy, creating jobs and empowering local businesses in raw material processing and advanced manufacturing. This approach fosters an industry shift toward sustainable practices and job creation within the clean energy sector.

Community Access to Reliable Power: The ESG has provided stable electricity to underserved communities and small businesses, enhancing productivity and supporting essential services. By offering a dependable energy source, it has allowed businesses to extend operating hours and families to access reliable power without high fuel costs.

Projected Growth and Expansion

With the global inverter market projected to reach $52.90 billion by 2030, Powerlabs is positioned to capture a significant share through ESG’s unique selling points and strategic marketing efforts. The company anticipates expanding ESG production by 300% over the next three years, facilitated by proposed funding for advanced machinery and raw materials. Powerlabs aims to achieve over N5 billion in revenue in the next 3-5 years, driven by increased sales, partnerships, and geographic expansion.

Powerlabs’ Evolve Solar Generator project is on track to become a leading solution in Africa’s clean energy sector, setting a high standard for innovation, sustainability, and social impact in the region.