Yellow Door Energy (YDE), a sustainable energy partner for businesses helping them reduce costs and lower carbon emissions, closed an equity raise of $400 million to continue its development of sustainable energy projects in the Middle East, Africa, and beyond. The investment also includes a purchase of current shares, enabling the company’s initial investors to exit.
The funding was provided by YDE’s newest and now controlling shareholder, Actis, with existing shareholders International Finance Corporation (IFC), Mitsui, and APICORP also increasing their equity commitments. With the closure of this landmark transaction, YDE’s business plan is fully funded and the management team is now focused on executing sustainable energy solutions over the next five years.
“This substantial investment will enable Yellow Door Energy to rapidly expand into new countries and deploy over $1 billion in projects across the region. We wholeheartedly welcome Actis as our majority shareholder and look forward to a fruitful collaboration. We would also like to express our gratitude to our existing shareholders – IFC, Mitsui, and APICORP – for their continued investment and support for our business model of providing affordable, reliable, and sustainable energy to visionary companies in the MEA region and beyond,” Jeremy Crane, CEO and Founder of Yellow Door Energy, said.
YDE operates in the UAE, Jordan, Pakistan, Saudi Arabia, Bahrain, and South Africa. They are sustainable energy partners to over 50 clients including multinational businesses such as Nestlé, Majid Al Futtaim, DHL, Mondelēz, and Unilever.
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