Greenage Technologies, an inveter and solar panel equipment manufacturer based in Enugu, got N7.2 million ($20,000) of the investment. Alphotazi Farms,a modular cassava processing company based in Nsukka, got the remaining.
Speaking on the investment, Charles Emembolu, CEO of Crestsage Ltd, said in a statement made available to BusinessDay, “I believe the teams are solving global problems with local resources and will scale with the right support, mentoring and a more inclusive ecosystem.”
With the investment, Greenage will produce and distribute more high quality inverter. The company started at Nsukka, when five undergraduates friends started the production of off-grip power solutions to help bridge the huge energy gaps in the country.
Similarly, Alphotazi Farms will increase its processing capacity of raw cassava tubers by building a modular processing plant.
Also speaking during the investment event, Owanari Batubo, CEO of Cobbs Engineering, advised start-up founders in the region to take advantage of the network.
Batubo called on experienced entrepreneurs in the region to join the network and help entrench innovation and entrepreneurial culture in their various societies.
SSEAN was setup in 2018 by a group of professionals to invest, mentor and support start-ups in the South-East/South-South of Nigeria.
Josephine Okojie
