Our Story

MEC is Founded

July 1, 2007

Timeline-Founding

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 Competition

May 1, 2008

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MEC wins first place in the 2008 Global Social Venture Business Plan Competition at the University of California at Berkeley.

MEC Signs its First Carbon Agreement with Eco Securities

July 1, 2008

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This landmark agreement made carbon funding available to microfinance institutions for the first time, and would catalyze several of the first generation of MFI clean energy programs to reach scale.

MEC Launches Tracker

May 15, 2009

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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.

MicroCredit Summit

June 8, 2009

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MEC presents at the MicroCredit Summit in Cartagena, alongside microfinance pioneer, Muhammad Yunus.

MEC Partners with XacBank in Mongolia

December 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 Award

December 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 Africa

December 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 CitiGroup

April 5, 2012

 

MEC Reaches One Million People with Clean Energy

July 18, 2012

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MEC Launches in Africa

December 16, 2012

 

MEC Partners with Equity Bank in East Africa

December 16, 2012

MEC Signs Carbon Agreement with Swedish Government

January 16, 2013

Timeline-Mongolia

MEC signs a carbon agreement with Swedish Government to accelerate microfinance to mainstream clean energy in Mongolia.

 

MEC Launches in India

December 16, 2013

MEC partners with 10 financial institutions in India, including Aryavart Grameen Bank, ESAF microfinance and the Bank of India.

 

MEC Reaches Two Million People with Clean Energy

December 16, 2014

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MEC Signs Carbon Agreement with Climate Cent Foundation

December 16, 2014

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MEC signs a carbon agreement with the Climate Cent Foundation of Switzerland to catalyze clean energy through microfinance in India.

MEC Raises $1.3 M Series B Investment let by Insitor Capital Fund

December 16, 2014

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MEC Signs Carbon Agreement with Swedish Government

June 16, 2015

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MEC signs a carbon agreement with the Swedish Government to catalyze market-based microfinance for clean energy in East Africa.

MEC Launches Stockist Network

October 16, 2015

MEC launches a stockist network to provide access to clean energy products in local communities.

MEC Reaches Three Million People with Clean Energy

December 16, 2015

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