When dusk falls in the UK, notice the street lights creating a corridor of light to help you find your way home? In the rural villages of Lagos, Nigeria, light is scarce. Many communities cannot afford to power up their dirt tracked streets at night. Distribution of power is limited with constant black-outs in the homes – generators are costly to run and unpredictable. Once evening arrives, villagers often feel unsafe to wander out onto the streets.
So how are these lives connected to us, you may ask?
Chidumaga Unachukwu, CEO of EXERGIE, decided something must be done. He’s been on a mission to design superior solar products that powers clean, affordable and renewable energy for his people, and within other emerging markets such as Sierra Leone.
It’s not just the rural communities Chidumaga wants to help. He has a calling to help combat climate change and the global energy crisis, impacting entrepreneurs and businesses in Nigeria who want to trade internationally with the rest of the world, including the UK.
Chidumaga holds a Masters in Renewable Energy Engineering from Brunel University London. He advocates: “The fastest possible way in the shortest possible time to power the world, must be through clean energy – one way or another. Fossil fuels are dirty, not climate friendly, and very expensive. This is why we set-up EXERGIE.”
Nigeria is one of the world’s fastest growing crypto markets. Around 50% of the Nigerian population lack access to traditional banking services, while an estimated 70% of the youthful Nigerian population rely on cryptocurrency for their financial transactions.
With the energy crisis and climate change a global concern, the joining forces of a UK start-up offering a secure crypto solution to a Nigerian entrepreneur in renewable solar energy, illuminates the power start-ups can bring to the table on a global scale to create meaningful change.
Crypto payment gateway for renewables
In August 2021, EXERGIE launched its first landmark off-grid solar project at the National Squash Complex (in the National Stadium, Lagos). Since then, Chidumaga says: “We’ve carried out over 60 projects in total. Around 28 solar projects for offices, buildings, sport’s complexes, estates, and the rest on what we call ‘rural electrification’ for communities. Where ‘concerned citizens’ come together as a union and ask us ‘what will it take to light up our community?’”
He continues: “At the moment, no one in the country provides a crypto payment gateway tailored for renewables. Our customers want to pay for clean electricity in crypto.” Chidumaga was looking for a crypto payment solution that was safe, seamless, and structured. That’s when he was introduced through the Brunel University London Alumni to UK based start-up, Mann Matharu, Founder of Qi Digital, who took part in a Co-Innovate project run by Brunel.
Chidumaga explains: “When I met Mann, I saw aside the service he’s offering, that our reasons connect. Mann also wants to touch the world, and provide a sustainable solution for the people.
Mann Mathuru, CEO of Qi Digital, explains: “Anyone with a digital wallet, whether it's in a mobile app or on their laptop, can access bitcoin and other cryptocurrencies, without the need to have a bank account. We know there’s somewhere in the region of 1.7 billion people unbanked around the world.”
“Our vision at Qi Digital has always been to empower entrepreneurs and business owners of all shapes and sizes around the world, to accept new types of digital currencies. We believe we stand on the cusp of a new era in commerce,’ says Mann.
As research advisor to Qi Digital, Professor Monomita Nandy of Brunel University London, advocates: “The Qi team are passionate about embedding innovative and research-backed solutions in their business model to build a resilient, financially inclusive society.”
Crypto payments secure & regulated
Chidumaga goes onto say: "Qi Digital is going to help us put sustainable energy in the hands of people, where they can pay with crypto. Individuals can use a trusted payment gateway where they can have control over their finances, as well as control of their electricity – this is the way I see it. The partnership is customer centric. This value chain is built around people. It’s a win-win for everyone.
"With Bitcoin Lightning, my customers can make immediate payments and get instant receipts, because we can approve transactions in less than a second and they have immediate confirmation.
“The merchant gets a receipt, the person who's paying gets a receipt – it is secure. With a regulated crypto partnership, through FCA registered, Bitstamp, and a growing population holding crypto and wanting to spend it, I can see no end to the possibilities of where we can take this proposition to market with Qi Digital,” concludes Chidumaga.
Professor Geoff Rodgers, Pro Vice Chancellor – Enterprise and Employment, Brunel University London says: “At Brunel, our mission is to empower our students to navigate a changing world. We’re proud to help our Alumni connect and collaborate to solve real world issues.
“EXERGIE and Qi Digital, as part of our Brunel Alumni start-up community, have come together to address the climate emergency. In this case, where engineering, environmental sustainability and fintech innovation collide to change lives.”