To make growth possible, Innovex is looking for a loan of USD 60,000 (USD 22,000 for investments in equipment and USD 38,000 for working capital). An investment loan of €45,000 is being sought, repayable over 5 years: 4 investors have together made €20,000 of OVO funding available in the form of a 2-year loan at an interest rate of 7%. To develop the housing of the commercial end product, approximately another €10,000 is still needed.
There is great demand for reliable technology for solar panels for the socio-economic development of remote areas without an electricity grid. Innovex can play a major role with its own technology fine-tuned to African needs.