KBW Ventures, led by Saudi Prince Khaled bin Alwaleed, has made a strategic investment in NoorNation, an innovative climatetech startup based in Egypt. Founded in 2021 by Ragy Ramadan, NoorNation specializes in providing decentralized energy and water solutions to off-grid areas in Egypt and Sub-Saharan Africa.
NoorNation’s key product, LifeBox, is a mobile unit that delivers clean energy and safe water at an affordable price to rural communities, farms, and tourism enterprises. Manufactured in Egypt, LifeBox is designed to support the triple bottom lines of social, financial, and environmental growth, contributing significantly to local industrial and sustainability initiatives.
This investment marks KBW Ventures’ first foray into Egypt’s startup ecosystem, underscoring a commitment to climate technology and sustainable development. Prince Khaled recognized NoorNation’s potential during its participation in the finals of the PepsiCo Greenhouse Accelerator Programme: MENA Sustainability Edition held in Dubai. This program involved a rigorous selection process and extensive mentorship, culminating in NoorNation being named Best Green Tech Startup of the Year in Northern Africa by the Global Startup Awards 2024.
Discussing the investment, Prince Khaled highlighted the alignment between NoorNation’s mission and KBW Ventures’ focus on innovative solutions that address critical social needs and offer scalability. The Prince’s visit to Egypt years ago was motivated by the region’s potential in sustainable energy, a vision that came to fruition with NoorNation’s impactful pitch.
Through this investment, KBW Ventures aims to support NoorNation in scaling its solutions across Africa, enhancing access to essential services through sustainable technology. This partnership also reflects a broader trend of increasing support for green technologies in emerging markets, contributing to global sustainability goals.
