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Sakhumnotho Group Holdings invest in green energy through Everlectric

Sakhumnotho Group Holdings has partnered with Everlectric, an innovative start-up, to deploy globally leading electric vehicle technology, coupled with a disruptive commercialisation model, in the logistics value chain in South Africa. Sakhumnotho has long invested in the energy sector through its energy division, Sakhumnotho Energy and, in recent years, the group has sought opportunities to invest in and expand access to clean energy in order to grow its portfolio in this sector. While the company doesn't ordinarily partner with start-ups, it was excited by the opportunity to partner with an innovative company that was offering the full, green "last mile" logistics services to a varied range of companies. Sakhumnotho has entered into binding agreements to acquire up to 30% interest in Everlectric.
Sakhumnotho Group Holdings invest in green energy through Everlectric

Globally there is a fundamental shift to more sustainable business practices across sectors, including in logistics which, to date, has had limited viable options to decarbonise their fleets. The Everlectric value proposition is not only environmentally friendly but it returns significant efficiency and cost savings to the logistics value chain. Through an innovative bundling of commercial electric vehicles, a network of charging infrastructure, free electricity (fuel) and an enabling digital Internet of Things (IOT) platform, Everlectric reduces the barrier of adoption for clients.

The Everlectric electric vehicle solution is operationally competitive when compared to combustion engine vehicles for existing logistics applications, with significant cost and environmental benefits, targeted at an exceptionally large primary market segment. The company has garnered a large amount of interest from leading South African companies and multinational last-mile logistics providers, several of whom are already active with Everlectric Proof of Concept vehicles.

Key to Everlectric’s innovative proposition is its 100% carbon-free service offering. This is made possible through the use of solar technology and, where solar is not viable, the company offsets 100% of its carbon emissions as it journeys towards a greener energy-efficient logistics solution.

“Sakhumnotho has identified investment in technology enabled businesses as an important component of the Group’s growth strategy. Our investment in Everlectric represents an opportunity to invest in leading technologies in the Electric Vehicle market segment whilst partnering with a young, dynamic and ambitious team bringing new technology to South Africa.” Comments Frencel Gillion, Head of Investments at Sakhumnotho.

“We are a values-driven company, and we are pleased with the strategic alignment between ourselves and the Everlectric team. We look forward to working with the team to fully develop and roll out a unique and innovative last-mile logistics solution in the market, true to our objective of building sustainable businesses in all forms.” Sipho Mseleku, President & CEO of Sakhumnotho Group.

Sakhumnotho is a leading black controlled and managed investment holding company with a 20-year track record. It currently has a diversified portfolio including interests in technology media and telecommunications, mining and resources, energy, property, financial services, and various other sectors. By investing in newer green energy, it positions itself, and South Africa for a cleaner, more sustainable future.

Ndia Magadagela, Director at Everlectric concludes: “Our relationship with Sakhumnotho transcends the financial investment, we share a clear strategic alignment and vested interest in the transition to sustainable mobility. The Sakhumnotho partnership signals the first step towards a future that is ever-green, ever-efficient and Everlectric.”

18 Oct 2021 13:05