Company NameBeacon Power Services
IndustryEnergy and Energy Services
Beacon Power Services is the leading provider of technology-driven energy-management solutions for commercial and industrial facilities in Nigeria.
Power grids are often unavailable or unreliable in Nigeria, resulting in overreliance on expensive sources of alternative generation—on average, commercial facilities use costly diesel generators for over 70% of their power needs. When paired with a lack of information and poorly implemented power and energy infrastructure, the result is excessive power wastage, needless and harmful emissions, and reductions in the operating margins of commercial and industrial enterprises.
Nigerian businesses face deep energy instability. The country only utilizes ~35 – 45% of its installed capacity of ~10 GW. The World Bank’s 2016 Doing Business Report ranks Nigeria in the bottom ten countries for “Getting Electricity” and estimates that power outages cost businesses ~4.5 – 8.5% of sales annually. Beacon’s management estimates that for the Nigerian energy efficiency analytics market, there are approximately 45,000 – 50,000 addressable target locations within their core target sectors of financial institutions, restaurant chains, cell towers, medium commercial facilities (e.g., hotels, office complexes, etc.) and industrial facilities. More broadly, the energy efficiency market is expected to become a $50 billion global market by 2020, with 60% of the growth coming from emerging economies. This growth is driven by the increasing demand in energy consumption, the need to develop electricity grids, and increased demand from commercial and industrial customers to automate and control their electrical processes.
Beacon’s proprietary technology platform provides clients real-time electricity usage information, including peak loads, power costs, utilization by power source and status of all parts of the system. Beacon’s engineers then use this information to develop a comprehensive power generation and management plan, tailored to the client’s specific needs. On average, Beacon’s work tends to save customers ~30% on their annual electricity costs.
Examples of the work Beacon does for its clients include:
- Generator resizing
- Peak shaving
- Appliance upgrades
- Electrical redesign
- Process management
- Renewable generation installation
- Bimbola Adisa, CEO (University of Salford (B.Eng., 1st Class Honors), Northwestern University McCormick School of Engineering (MEM), Northwestern University Kellogg School of Management (MBA), Deutsche Bank, Rolls Royce, British Airways)
- Nnamdi Agbakwu, CTO (University of Colorado, (MNG), Northwestern University Kellogg School of Management (MBA), Schneider Electric, Accenture, CPS Energy)
In a country plagued with electricity availability and reliability, Beacon provides dependability and cost-efficiency, helping commercial and industrial businesses thrive, and supporting the growth of the industries powering Nigeria’s future. In addition to the powerful potential of reduced power costs on Nigeria’s economy, Beacon provides Nigerians with high-skilled and high-paying jobs, such as engineers and technicians. Lastly, the work by done Beacon reduces CO2 emissions and will help to catalyze the adoption of renewable energy generation.
- Schneider Electric
- Current (a General Electric company)