Olugbengo Olubanjo (MASc CivE 1T9)

Unlocking Opportunities: Bridging the Electricity challenges in Sub-Saharan Africa Through Innovative Solutions

Abstract:

Access to electricity is a gateway to countless opportunities, influencing healthcare, clean water accessibility, quality education, and overall household productivity. Shockingly, over 1 billion people worldwide lack this fundamental resource, with more than 600 million Africans living without electricity and an additional 300+ million facing daily struggles with unreliable power grids. To address this colossal challenge, many households and businesses in sub-Saharan Africa resort to individually generating electricity through expensive, hazardous, and environmentally harmful means like petrol and diesel generators. 

Reeddi has pioneered a groundbreaking solution – the patented Reeddi Power Capsule – providing clean, reliable, and affordable electricity to thousands of households and businesses in energy-poor African regions.  

Conceived initially as a side project during my MASc degree at the Faculty of Engineering, Reeddi has evolved into an award-winning company, earning recognition such as Time's Best Invention of 2021. This talk will delve into the journey from a fledgling idea to a company of over 35 people, detailing the pivotal role played by the Faculty of Engineering, labs, and accelerators in providing support. I will share insights into the challenges faced during the formative years, discussing the company's growth and its current pivotal role in addressing a critical need in Sub-Saharan Africa. Additionally, I will outline our vision for the future and elaborate on other internal projects to accelerate the adoption of clean electricity in the regions where we operate. 

Join me in exploring the transformative impact of Reeddi, making the future brighter, one innovation at a time.

Speaker bio:

Olubanjo Olugbenga (Olu) is the visionary Founder & CEO of Reeddi, a groundbreaking company revolutionizing access to clean, reliable, and affordable electricity in energy-deprived regions worldwide. With a current reach extending to over 3,000 households and businesses monthly in Nigeria, Reeddi is at the forefront of transformative innovation.

Olu's brainchild, the Reeddi Capsules, has garnered international acclaim, earning a coveted spot as one of Prince William's EarthShot Prize 15 finalists with a chance at a million-pound reward. This cutting-edge solution was recognized as one of Time's 100 Best Inventions of 2021 and hailed as a world-changing idea by Fast Company.

Educated at the University of Ibadan with a Bachelors in Engineering and later earning a Masters from the University of Toronto, Olu is a recipient of prestigious awards, including the John Wesley J. Hall Award for Excellence in Entrepreneurship and the Social Innovation Award from the University of Toronto. His commitment to global impact is further underscored by his inclusion in the 2022 class of Bloomberg New Economy Catalysts – a testament to his role as a driving force in shaping the future.

Olu's life mission is unwavering – leveraging technology and market-creating innovations to create positive social, environmental, and economic change on a global scale.