MEC is FoundedJuly 1, 2007
MEC was founded by April Allderdice and James Dailey to provide affordable clean energy to low income households around the globe. April had worked with the Grameen Bank to start a solar energy company, and thought that other financial institutions could do what Grameen had done. James was a technologist who had developed the open source management information system for MFIs, and saw how information could make household clean energy investment grade.
Global Social Venture CompetitionMay 1, 2008
MEC wins first place in the 2008 Global Social Venture Business Plan Competition at the University of California at Berkeley.
MEC Launches TrackerMay 15, 2009
In order to make household clean energy investment-grade it is necessary to track information on the households that buy the systems, and how they use them. MEC’s credit tracker uses GPS and mobile phones to track this information. Its first application was in rural Uganda.
MEC Partners with XacBank in MongoliaDecember 16, 2009
MEC partners with leading microfinance institution XacBank in Mongolia. XacBank wanted to offer clean energy solutions which would be affordable and effective for its clients who suffer from heavy pollution due to coal burning in the winter. MEC works with XacBank to provide affordable efficient heating stoves and home insulation for yurts.
MEC Wins Business AwardDecember 16, 2010
MEC is honored to receive the Small Business Award from King County Washington. MEC’s home district recognizes MEC for catalyzing a new market in clean energy.
MEC Attends the Conference of Parties 17 in Durban, South AfricaDecember 16, 2011
The US Overseas Private Investment Corporation announces a pledge of $10 M in financing to scale up MEC’s microfinance climate program.
MEC Signs Carbon Agreement with CitiGroupApril 5, 2012
MEC Launches in AfricaDecember 16, 2012
MEC Partners with Equity Bank in East AfricaDecember 16, 2012
MEC Launches in IndiaDecember 16, 2013
MEC partners with 10 financial institutions in India, including Aryavart Grameen Bank, ESAF microfinance and the Bank of India.
MEC Launches Stockist NetworkOctober 16, 2015
MEC launches a stockist network to provide access to clean energy products in local communities.