Barefoot Power is a for-profit company which mission is to offer a cheaper, safer and cleaner alternative to kerosene in developing countries through low-cost, expandable lighting systems. Globally, BFP estimates that 1.5 billion people spend $10-30 billion a year on kerosene. BFP’s best-selling while LED rechargeable and solar powered lamps can be replaced every 12 months and sell for under $20, representing three to six months
worth of kerosene and batteries.
Each of the eight home lighting systems offered by BFP have two ways of recharging batteries through solar pannels or a battery charger. A battery charger set is usually half the price of a solar system set, butmay require paying a charging fee each week to a local battery-charging entrepreneur. Sets are sold to local distributors that purchase BFP’s lamps in bulk and distribute them to regional distributors and retailers in target countries.
Additional to the positive impact of its products on end consumers, BFP’s generates significant indirect jobs through its key consumers which are importing national partners. The company aims to create 15-30 national importing businesses which will help support local economies in Uganda, Kenya, Indonesia and India, among others. This will, in turn, lead to additional incremental income for importers, franchisees, and small retails shops in each target country, creating an estimated 1,000-3,000 jobs within three years.
In 2009, BFP has sold over 50,000 lamps and is expected to supply an additional 4 million lamps over the next fours year, providing savings of over 8,000,000 USD.
BiD Network (bidx sister) was able to successfully match BFP to both institutional and informal investors for about 1 million USD.