Memorandum of Understanding among Aceleron, Zembo, Toyota Tsusho and Mobility 54 Investment SAS signed at TICAD8 - Contribution to carbon neutrality in Africa
10/11/22
Toyota Tsusho Group (TTC) has signed the Memorandum of Understanding (“MOU”) with Aceleron and Zembo at *TICAD8 for accelerating joint contribution to carbon neutrality through the development of the e-mobility industry in Africa.
*TICAD8: the Eighth Tokyo International Conference on African Development
1. Background
For years, TTC has worked hand in hand with people and societies in Africa under the philosophy of “WITH AFRICA FOR AFRICA”. As climate change is a major issue that affects all forms of life on earth, TTC has defined "contribution to the transition to a carbon-free society by reducing automotive, manufacturing, and energy plant construction CO2 emissions through the use of clean energy and innovative technologies" as one of its key sustainability initiatives established in 2018.
Mobility 54 invested in Aceleron and Zembo to explore the opportunity of developing e-mobility ecosystem in Africa.
2. About Aceleron
Aceleron was established in 2016 to create the most sustainable ESG-positive battery in the world. Its technology has been innovated under the scope of developing countries and regions as it features the patented-technology which is easy to assemble and repair without the need for expensive hi-tech machinery. This compression based technology, coupled with data tools and software to service the batteries effectively is a step change from the conventional battery construction technique of welding cells together which leads to an un-maintainable, difficult to deal waste challenge. For users, this reduces replacement costs and ensures that the battery technology is truly paying back the carbon used in both construction and recycling of the pack.
3. About Zembo
Zembo is founded in 2018 with a vision to achieve the carbon neutrality and the improvement of motorcycle taxi drivers’ income in Africa. At present, Zembo is operating in Uganda with the following business units:
a) Assembly: Importing motorcycle kits and batteries and assembles them locally in Uganda.
b) Distribution: Selling e-motorcycles to customers directly with a hire purchase leasing option through external financial institutions including Tugende – an asset financing company in Uganda as one of the Mobility 54’s partners.
c) Battery swap: Building its own battery swap network backed by solar photovoltaics energy generation at some flagship swap stations.
4. Purpose of MOU
The purpose of this MOU is to accelerate the collaboration among Aceleron, Zembo and TTC Group to explore opportunities for contributing carbon neutrality by means of providing its expertise, know-hows, and technologies accrued therein.
Aceleron and Zembo have already began the alliance in which Aceleron will provide over 100 batteries for Zembo's electric motorcycles. This alliance will be further expanded in order to build sustainable e-mobility industry in Africa.