CrossBoundary Energy has secured a $40 million investment from African climate-focused investor Inspired Evolution, strengthening its capacity to scale renewable energy projects across the continent.

The transaction, advised by Cygnum Capital, comes as CrossBoundary Energy advances key projects in Africa’s mining sector, including the Kamoa-Kakula Solar and Battery Energy Storage System (BESS) baseload facility in the Democratic Republic of Congo. The company is also nearing construction of a hybrid energy project for the Baomahun gold mine in Sierra Leone.

“This investment reflects our conviction in scalable solutions to Africa’s power challenges,” said Wayne Keast, co-founder and managing partner at Inspired Evolution. “We look forward to accelerating CrossBoundary Energy’s next phase of growth.”

CrossBoundary Energy said the investment signals strong confidence in its execution capabilities and growing track record in delivering clean energy solutions to commercial and industrial clients.

“The investment from Inspired Evolution demonstrates a vote of confidence in our delivery capabilities and the track record we have already attained in Africa,” said Tom Roberts, principal and head of investment at CrossBoundary Energy. “Inspired Evolution’s experience will be invaluable as we expand our reach.”

The funding builds on the company’s recent financing efforts. In November 2025, CrossBoundary Energy secured $200 million in senior debt through a portfolio financing facility arranged by Standard Bank of South Africa.

Cygnum Capital, which acted as financial advisor on the deal, emphasized the importance of mobilizing capital for underserved markets.

“This transaction signifies the importance of capital deployment in underserved markets to generate both strong commercial outcomes and create real impact,” said Felix Brand, managing director at Cygnum Capital.

CrossBoundary Energy develops, owns, and operates distributed renewable energy solutions for businesses, with a portfolio valued at approximately $550 million. Its assets include more than 400 MWp of solar, wind, and thermal generation, alongside roughly 700 MWh of battery energy storage.

Inspired Evolution manages over $1 billion in climate-focused investments across 21 African countries and continues to support projects aligned with Africa’s transition to net-zero emissions by 2050.