GreenSpark

CATEGORY: Energy

LOCATION: Villages in Sylhet Division , Bangladesh

GreenSpark

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GreenSpark brings green electricity from Bryophyllum plants to poor, rural, off-grid Bangladeshis at USD 1.86 per month. The process emits zero CO2, empowers poor-rural women and alleviates rural poverty.

Standings & Awards

74 out of 1313 in Asia
21 out of 143 in Energy
66 out of 935 in Design
37 out of 555 in For-Profit
194 out of 4003 Overall

5

VOTES

GreenSpark Bangladesh

GreenSpark’s clean electricity alleviates rural poverty by creating jobs, profits and women empowerment.

Energy drives economic development. Yet, 95.4 million rural people in Bangladesh (58% of total population) live painfully without electricity. Bangladesh loses several billion dollars due to no electricity in rural areas. Alternative energy sources like firewood, diesel and kerosene account for over half of country’s energy consumption, but these affect the environment adversely (SO2/NO2/CO/CO2).

GreenSpark addresses the most critical issue which is restraining rural development–energy. We offer 24/7 electricity to poor-rural-off-grid Bangladeshis. Bryophyllum leaves are crushed to create a liquid; which, combined with chemicals, generates 200Ws of continuous electricity to support at least 2 bulbs and 1 fan through a portable D.light battery. This patented technology does not emit carbon or other pollutants and produces methane gas & fertilizers as by-products.

A feasibility study was undertaken where 56 families used Bryophyllum electricity successfully. We found electric-lighting provides approximately 100 times more light than a kerosene lamp. Moreover, average income of the rural households with electricity is 27% higher than in villages without electricity.

Average income of our clients is USD30/month and they spend 9% (USD2.7) on kerosene. While costs of nearest alternatives–SolarPV is prohibitively high (USD150.4/month), we charge only USD1.86/month!

This untapped market of USD486.82 million consists of 21.64 million families. In first year, GreenSpark plans to serve 42,272 families in 21 villages. In 5 years, we intend to reach out to 4.77 million families in 10,494 villages. Operational cost per battery is USD37.5 for 5 years against USD112.5 revenue generated from it. Initial capital requirement for GreenSpark is USD5.39 million.

GreenSpark will reduce kerosene consumption by 171.72 million litres in 5^th year; employ 52,470 rural women per year for the first 5 years, creating annual income of USD3.94 million plus commissions. GreenSpark is a sustainable model to alleviate poverty in Bangladesh and abroad by synchronizing economic efficiency with environment and human friendly technology. At every step, we are creating job opportunities and profit while meeting serious social and economic needs.

FIVE PROJECT QUESTIONS Required (60 - 90 minutes)

1. What is your innovation?

We provide green electricity from Bryophyllum plants through a portable battery wired to support lights and fans. Bryophyllum is fast growing; it germinates from its own leaves . Its leaves are crushed to create a liquid; which, combined with chemicals, generates 200Ws of continuous electricity to support at least 2 bulbs and 1 fan through a portable D.light battery. This patented technology does not emit carbon or other pollutants and produces methane gas & fertilizers as by-product.

2. Who gains the most?

We intend to serve 95.2 million rural Bangladeshis without electricity with our pioneering service. Price of USD1.86/month will change rural lives with all the benefits of affordable electricity: education, health, cooking etc. GreenSpark will reduce kerosene consumption and employ rural women, creating income and improving standard of living. Electricity will also open up new markets for electronic devices, thus creating further economic impact. The environment is also saved by GreenSpark.

3. Who pays?

Poor, rural people without electricity are our customers. Their average income for the poorest is USD 30/month and we will charge them only USD1.86/month for our services. With the given price, we are going to a make a moderate level of profit for our investors Initial capital requirement for the project is USD149,512, investment pays back in 3.06 years at an Internal Rate of Return (IRR) of 36.09% and Net Present Value (NPV) of USD 204,900 after future cash flows at 17.21%.

4. What is your success?

In first year, GreenSpark plans to serve 13,176 families, in 29 villages. In 5 years, we intend to reach out to 30,945 families in 68 villages. GreenSpark will reduce kerosene consumption by 1.5 million liters in the 1st and 171.72 million liters in 5th year (also reduce consumption of firewood and diesel). We will employ rural women, creating income and empower them to demand equal respect in society.

5. How will you do it?

In every village, we will employ 1 mechanic to set-up & service our clients and 5 local women to distribute and promote our products (also refill batteries). Our strategy will leverage their geographical reach, social capital, and understanding of the local market. By creating alliances with NGOs, local administration and opinion leaders, we will organize buzz-creating public events like puppet shows and Jatra (folk dramas)– which will entertain, educate and persuade potential clients.