The former New York Mayor, Mike Bloomberg announced Bloomberg Philanthropies would make its first ever impact investment of $US5m into Little Sun, creators of solar lanterns in the off-grid lighting population in Africa. The ‘Little Sun’, is a solar-powered LED lamp developed by Danish artist Olafur Eliasson and created by engineer Frederik Ottesen, it provides safe and affordable light and hopes to replace kerosene as the favoured light source in Sub-Saharan Africa.
The impact investment will be by way of a low interest loan to enable Little Sun to expand its efforts to distribute its portable solar-powered lamps.
The Little Sun is an artistic looking light, the flower-shaped lamp that includes a 6cm by 6cm single cell mono-crystalline solar module, and when utilized in substitution to kerosene lights it also helps keep the environment safer.
Kerosene is not only expensive, costing about 20% of the average person’s income to maintain, but also demonstrated to have highly negative affects to users health and the environment. Incidentally, inhaling four hours worth of kerosene fumes is equivalent to smoking forty cigarettes.
The Little Sun lamp is currently available to be purchased in Uganda, Kenya, Burundi, Nigeria, Ethiopia, Senegal, South Africa and Zimbabwe.
Bloomberg Philanthropies’ mission is to ensure better, longer lives for the greatest number of people. The organization focuses on five key areas for creating lasting change: Public Health, Environment, Education, Government Innovation and the Arts. Bloomberg Philanthropies encompasses all of Michael R. Bloomberg’s charitable activities, including his foundation and his personal giving.