A leader in off-the-grid, pay-as-you-go solar solutions for residences in Africa has been named as the 370th fastest growing company in all of Europe by the Financial Times in their annual FT1000 list.
Azuri Technologies, which is headquartered in Cambridge, has had massive growth between 2015 and 2018, which is what fueled the high ranking on the FT list.
The company has achieved revenue growth of 460% during the four years, and this is the second time Azuri has been listed on the FT1000 list.
Some experts say the key to Azuri's growth is its affordable solutions for places in sub-Saharan Africa that are off the grid.
In fact, there are approximately 600 million people in the region who lack full access to modern devices that require reliable sources of energy.
CEO Simon Bransfield-Garth said his company is moving from "strength to strength."
He added that the Azuri is "delighted" about the recognition of their hard work and expansion across sub-Saharan Africa.
"The FT1000 results show that innovative technology solutions can thrive while also making a difference to the lives of millions," Bransfield-Garth said.
The firm began operating in sub-Saharan Africa in 2012. In that time, the company has sold over 200,000 systems.
Besides solar, the firm also supplies smart televisions that are energy efficient. They also offer radios that are rechargeable along with satellite programming and internet access.
Besides the headquarters in Cambridge, the company has five other offices: Kenya, Nigeria, Tanzania, Uganda and Zambia.
Recognition is nothing new for Azuri has it has also been ranked as #42 fastest growing British tech firm in the Fast Track 100 list of 2019. It was published by the Sunday Times.