Bogotá, May 2023 – ALIVE invests US$2MM in HYBRICO Energy Technologies, a company offering intelligent software-enabled clean energy solutions that help telecommunication companies (Telcos) across LatAm reduce the cost of energy and increase the energy uptime for their telecommunication sites, extending the Telcos reach and bringing access to connectivity to populations that previously had no access.
Connectivity is an important factor for the sustainable development of a country, with significant impacts on economic growth, social inclusion and environmental sustainability. Furthermore, the Covid-19 pandemic revealed the importance of providing internet to all of the population as a catalytic means to access a diverse number of basic services such as healthcare and education. However, it is a major challenge for Telcos to expand their reach in rural areas, as the high cost associated with building and maintaining telecommunication towers in off-grid zones has been an obstacle. As a result, 63.2% of the rural population in LatAm does not have access to connectivity (compared to just 29% in urban areas).
HYBRICO was founded in 2016 to tackle this grand challenge across LatAm, by offering an integrated energy solution for telecommunication sites that replaces emission-heavy generators (such as diesel) with leading-edge clean energy system that combine solar-powered cells, lithium-batteries, and cloud-based site controllers. In addition, the company has developed an innovative structure to commercialize their solutions through long-term contracts by offering energy-as-a-service. This has allowed Telcos to reduce the CAPEX and OPEX for energy infrastructure associated with building new sites and expand their reach to rural areas in Latin America.
By working with top-tier telecommunications operators in LatAm, such as Telefonica, Tigo, and Claro, HYBRICO has achieved a significant regional footprint, providing energy solutions in over eight countries and having been awarded thousands of telecommunication sites to deploy their solutions. Furthermore, because the company focuses on helping Telcos reach previously underserved communities, 69% of HYBRICO’s sites are located in off-grid areas.
“We are very excited to be supporting HYBRICO in its mission to bridge the digital divide in rural areas across Latin America by enabling greater access to reliable connectivity to underserved communities in the region, while also reducing carbon emissions”, said Santiago Álvarez, Managing Partner at ALIVE Ventures, who will be joining HYBRICO’s Board of Directors as an observer.
Alejandro Estrada Toledo, co-founder and CEO of HYBRICO, is an impact-driven entrepreneur with over 15 years of experience as an investor and company builder. His expertise in the energy and telecommunications sector, together with HYBRICO’s extraordinary team of professionals, has helped the company develop a unique value proposition to Telcos and position itself as one of the leading players in LatAm's energy sector.
“We are extremely grateful for having ALIVE Ventures join our mission. The only way to solve grand global challenges is by joining forces and forging alliances. We are certain that together we can help create a truly greener, more connected future”, said Alejandro Estrada Toledo, CEO and Co-Founder of HYBRICO.
With the new investment, HYBRICO will be able to continue expanding its regional footprint to reach new countries and help provide connectivity to the unconnected communities of Latin America.