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Miami, FL – June 28, 2018 – Kingo, the pioneer unlocking worldwide access to sustainable power, announced today that they will sponsor the development of the Off-Grid Energy Access prize concept in the Visioneering Summit taking place this October, organized by the XPRIZE Foundation, the global leader in incentivized prize competitions. The Off-Grid Energy Access prize concept aims to bring about transformative breakthroughs to provide accessible, high-performing, efficient, sustainable energy to the 1.2 billion people globally who live without electricity.
The annual XPRIZE Visioneering Summit will bring together 300 leading world-renowned executives and innovators for three days to evaluate and fund competition designs. For the first time, XPRIZE is using the HeroX crowdsourcing platform to crowd-source hundreds of XPRIZE designs across five areas: Off-Grid Energy for the Developing World, Saving Coral Reefs, Disaster Prediction, Lifting Farmers Out of Poverty and Feeding the Next Billion. The winning teams from the HeroX competition will win a prize package valued over $100K. Kingo calls out to all innovators, engineers, scientists, and changemakers of the world to join the competition, and develop a design for the Off-Grid Energy Access prize concept.
“Kingo is creating the largest clean energy user base in history, an ambitious feat and exactly this sort of mindset that can put an end to energy poverty,” said Juan Fermín Rodriguez, CEO and Founder of Kingo. “XPRIZE has demonstrated the power it has in bringing the worlds’ genius together to solve grand challenges; we are confident that through this competition massive breakthroughs in energy technology will kindle, particularly around energy generation technology.”
Kingo turns lives ON using disruptive clean energy technologies that are economically accessible. The fast-growing multinational company provides off-grid communities with a scalable prepaid energy service that delivers development tools at easily affordable prices. Its service is designed around technology that facilitates and encourages the betterment of households in distinct areas, including financial savings, health, education, safety, and overall wellbeing. For more information about Kingo, please visit www.kingoenergy.com.
To learn more about the HeroX Design Competition for this year’s Visioneering Summit, including deadlines, submission requirements, and full judging criteria, and to sign up for the challenge, please visit: www.herox.com/xprizevisioneers-2018-design-challenge.
To learn more about the Visioneering Summit, please visit: xprize.org/visioneering
About Kingo
Kingo was founded in Guatemala in 2013 by Juan Fermín Rodriguez, Matias de Tezanos (CEO of PeopleFund), Alvaro Rodriguez, and Peter Kasprowicz, four entrepreneurs looking to improve human lives by providing clean, safe, off-grid electricity at a lower cost than existing alternatives. The Company's executive team includes experts in mass consumer markets, telecommunications, software, and energy.
Since its founding, Kingo has raised $25.0 Million in several equity and debt rounds led by prominent investors and institutions including the global pioneer in value added investments (PeopleFund), the largest utility in Europe (ENGIE Rassembleurs d'Energies), and the innovation fund of one of the largest utilities in Latin America (FCP, from EPM). Kingo has also raised funds from the Dutch Development Bank (FMO), the French Development Bank (Proparco) and the Inter-American Development Bank (IDB); all of whom are looking to provide significant funding over the next years for Kingo’s global expansion and technology developments. Other key partners include Leonardo DiCaprio, who has joined the Company as an investor and advisor. Kingo has also partnered with award-winning agency network Ogilvy & Mather, through its Colombia & Guatemala offices, to launch Kingo’s vision into the world.
Kingo delivers its prepaid energy service using robust and intelligent proprietary technology. This includes its smart energy systems called Kingos and its cloud-based suite of data management software. With Kingo's prepaid solar energy service, users can readily and inexpensively access tools that enhance their productivity, connectivity, and overall wellbeing. For more information visit: www.kingoenergy.com
About XPRIZE
XPRIZE, a 501(c)(3) nonprofit, is the global leader in designing and implementing innovative competition models to solve the world’s grandest challenges. XPRIZE utilizes a unique combination of gamification, crowdsourcing, incentive prize theory, and exponential technologies as a formula to make 10x (vs. 10%) impact in the grand challenge domains facing our world. XPRIZE’s philosophy is that – under the right circumstances – igniting rapid experimentation from a variety of diverse lenses is the most efficient and effective method to driving exponential impact and solutions to grand challenges. Active competitions include the Lunar XPRIZE, the $20M NRG COSIA Carbon XPRIZE, the $15M Global Learning XPRIZE, the $10M ANA Avatar XPRIZE, the $7M Shell Ocean Discovery XPRIZE, the $7M Barbara Bush Foundation Adult Literacy XPRIZE, the $5M IBM Watson AI XPRIZE and the $1.75M Water Abundance XPRIZE. For more information, visit www.xprize.org.
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