FMO joins Acumen’s Pioneer Energy Investment Initiative

Dutch development bank FMO has invested $2.8 million into Acumen’s Pioneer Energy Investment Initiative, surpassing its goal of raising $20 million to bridge the funding gap in off-grid energy and accelerate energy access across the developing world 

FMO invested from its Access to Energy Fund, a fund FMO manages on behalf of the Dutch government. Acumen’s aim is to reach 2.8 million new customers through its portfolio of early-stage clean energy companies by 2026. 

Since launching the initiative in 2017, Acumen has invested more than $7 million into eight pioneering companies. These investments, which include PEG, Easy Solar, KopaGas, PowerGen, RVE.SOL, Promethean Power Systems and Simusolar have together reached more than 675,000 people.