AQORA Rebrands to afrivolt™ to Spearhead Cell Manufacturing and Drive Economic Growth in Africa’s Battery Industry
January 2024 [Cape Town, South Africa] — AQORA, a pioneering force in the African battery industry, proudly announces its transformation into afrivolt™. This strategic rebranding serves as a beacon for the company’s renewed vision and alignment with international battery industry nomenclature, embodying excellence and innovation.
The shift to afrivolt™ signifies a fundamental change in corporate strategy, emphasizing our commitment to setting new industry standards and propelling the battery sector’s evolution in Africa.
In 2023, afrivolt™ achieved significant milestones, advancing various feasibilities, building the business ecosystem and setting the stage for a transformative 2024. The highly anticipated 5GWh “afrivolt 1” project slated for the Western Cape epitomizes the company’s dedication to pioneering advancements in the battery sector.
Founder Deshan Naidoo expressed gratitude for the team’s resilience, stating, “The last 12 months have been extremely tough, but I am proud of the progress we have made.” He extended appreciation to contributors, hinting at forthcoming announcements in Q1, indicating the company’s intent to catalyze the downstream battery value chain in Africa.
Expanding the Rationale for Rebranding
The afrivolt™ rebranding extends beyond a mere name change. It underlines the company’s commitment to lead the charge in cell manufacturing on the African continent and cements a fundamental change in the company’s corporate strategy. This strategic move will result in substantial beneficiation, job creation, and skills development, fostering economic growth within the battery value chain in Africa.
About the African battery industry
The African battery value chain presents a significant opportunity, with various African countries adopting progressive policies and frameworks to leverage their mineral wealth effectively. The African Mining Vision (AMV) and the African Minerals Development Centre (AMDC) under the African Union aim to ensure sustainable and inclusive development across the continent’s mineral sector. Recognizing the supply chain risks, mitigating such risks is paramount, particularly for Western stakeholders.
Continental development finance institutions, such as the Africa Finance Corporation (AFC), African Development Bank (AfDB), Industrial Development Corporation (IDC), and International Finance Corporation (IFC), are pivotal in unlocking capital for the energy transition. Their collective efforts drive investment into sustainable energy projects, enabling companies like afrivolt™ to spearhead innovation and contribute to Africa’s energy independence.
About afrivolt™
afrivolt™ is at the forefront of revolutionizing the African energy storage industry, driven by an unwavering commitment to pioneering cell manufacturing in Africa by leveraging international technology partnerships. This initiative aims to catalyze economic growth by creating job opportunities, fostering skills development, and establishing a strong local footprint in the battery value chain across the continent.
With a visionary approach, afrivolt™ has spent the last 15 months developing the business ecosystem to drive sustainable energy solutions for a brighter, more prosperous African future.
The company’s 5GWh project, “afrivolt™ 1” is expected to manufacture battery cells for stationary storage in South Africa, a market that has seen exponential growth over the last 3 years.
*This press release is subject to change without notice*