dVentus Technologies, an Ethiopian clean energy company received a US$3 million from members of the Ethiopia Angel Network.

Ethiopian Angel Investment Network, part of RENEW, is an investment firm dealing mostly with potential business in developing countries announced signing of Memorandum of Understanding with dVentus last week.

With the new investment, dVentus plans to develop prototypes of energy efficiency products including smart grid application solutions. dVentus plans to manufacture and deliver these technologies to Ethiopian and international clients.

dVentus Technologies is a clean energy company based in Ethiopia focusing on system integration and energy efficiency solutions for renewable energy projects and advanced transportation.

Source: RENEW