Ugwem Eneyo is a Nigerian-American who experienced an unreliable electricity system as a child in Nigeria. While pursuing her graduate studies at Stanford University, Eneyo focused on sustainable energy and environmental solutions. During a visit to Nigeria, she was struck by the persistence of the electricity crisis she had grown up with. The reliance on diesel generators, frequent power outages, and the lack of data to manage energy consumption made businesses and households vulnerable.
While at Stanford, she aimed to develop solutions that would ensure reliable power and promote environmental sustainability. This vision inspired Eneyo to co-found SHYFT Power Solutions in 2016 with Harrison Leaf, a classmate who shared her passion for addressing the energy crisis.
Eneyo serves as the company’s co-founder and CEO.
SHYFT Power Solutions specialises in developing technology that improves distributed energy systems’ performance and operational efficiency. Its solutions provide real-time monitoring, automation, and optimisation of energy assets, enabling users to make informed decisions about their power usage. By enhancing visibility and control, SHYFT helps reduce operational costs, minimise downtime, and lower carbon emissions, facilitating the transition to clean, reliable, and affordable energy in emerging markets.
In April 2021, the Ugwem Eneyo-led startup raised $3.1 million in funding, bringing its total seed round to $3.8 million. This funding was led by the SoftBank Vision Fund’s Emerge Program and Total Carbon Neutrality Ventures, with participation from other investors. The capital infusion aimed to accelerate SHYFT’s mission to provide clean and reliable energy solutions in markets struggling with energy access.
By 2021, SHYFT’s technology managed over 2,000 kW (kilowatt) assets. Their solutions have been adopted by major banks in Nigeria, with nearly every commercial bank branch utilising SHYFT’s technology, paving the way to deliver reliable power to approximately 5,000 branches nationwide.
SHYFT Power Solutions also merged with SteamaCo in 2024, a UK-based leader in energy revenue management. This strategic merger aimed to transform Africa’s energy sector by driving the digitisation of power grids and exploring more reliable and productive power.
Additionally, SteamaCo’s advanced metering infrastructure, deployed across 20 African countries, complements SHYFT’s innovative solutions, paving the way for an increased customer reach and more sustainable energy infrastructure across the continent.
The merger with SteamaCo is a notable achievement for Ugwem Eneyo in a sector where only 13% of venture capital in Africa goes to female founders. Through SHYFT Power Solutions, this co-founder provides energy management tools and reshapes how businesses, banks, and communities think about power reliability and efficiency.
