Antigua Guatemala, December 5th, 2017– Pomona Impact has committed to a five-year $250,000 investment in Energryn. Energryn manufactures and sells low-cost hybrid water heaters that have the same capacity and price as a traditional gas heater.
The company’s objective is to make solar power more accessible and to reduce the costs and emissions related to the use of gas for water heating. The company is currently manufacturing in Quintana Roo, Mexico and sells throughout the country. They will be using this investment to increase production to meet projected demand including their future expansion plans into Central America.
“Energryn has created an innovative and easy-to-install solution at a competitive price for a problem that affects most Central American homes. The Solesyto water heater is ideal for families who want to have affordable and environmentally-friendly hot water in their homes. This is exactly the kind of solution Pomona is working to scale throughout the region.”
– Daniel Granada, Partner of Pomona Impact.
Energryn is manufacturing and selling the first low-cost hybrid water heater, Solesyto, that uses solar power and has the same capacity in liters (60l – 80l) and price as a traditional gas heater (approx. $150 – $200). It is easy to install for a qualified plumber, and with the Grynshower shower head it saves up to 50% of water by limiting water flow to 4l/minute. On a sunny day, the Solesyto can provide 3 to 4 showers at 38 degrees Celsius without using its electric backup.
The product is spherical in shape, which provides the advantage that it does not have to be oriented towards the sun, and during an average day it collects more energy than a typical flat panel, while requiring a much smaller footprint. The product is lightweight (15lbs), made of recyclable plastic, and has no moving parts, which makes it rain and wind resistant. The boiler is patented and the company holds more patents in the field of solar water heating than any other company in the world.
“The experience with Pomona during the investment process was very efficient and productive, establishing fluid and reliable communication. We believe that Pomona will be a strategic ally for Energryn in Central America, both to access those countries and to help market our products and technology through their network and investee companies.”
– Andrés Muñoz, Founder of Energryn
Pomona Impact is excited to be working with Energryn, a company with such a strong environmental and social vision, whose mission is to create access to solar-heated water for families across Mexico and eventually, the rest of Latin America. In Mexico, 52% of people do not have water heaters of any kind (more than 12 million Mexicans take showers in the winter by heating their water on the stove). In Mexico, the southern states of Chiapas, Guerrero, and Oaxaca present the highest average levels of energy poverty, as well as the highest overall poverty rates.
The United Nations Sustainable Development Goal #7: Ensure access to affordable, reliable, sustainable and modern energy for all states that access to energy is one of the most pressing issues of our time – Globally, 85.3 per cent of the population had access to electricity in 2014, an increase of only 0.3 percentage points since 2012. With this investment, Energryn will be able to reach even more people with its product and provide access to hot water through a renewable energy source to thousands of families throughout the region.