Driven to innovate
A startup that produces portable solar panel 'factories', a handy financial literacy app for young children and a company that creates anti-microbial textile products are in the spotlight this month
Tell us about your company and what inspired you to start it.
Maana is a combination of the words 'Maan' which means Moon in Dutch and 'Mana', which means power in Polynesian languages. This perfectly describes our 'origin' story, as Maana was founded from our aspirations and research into in situ resource utilisation (ISRU) technologies for producing solar panels on the Moon, Mars and beyond.
During our research, we discovered that the technologies being developed were not only applicable in space, but also on Earth, where it could be used as an economically attractive, environmentally friendly, and flexible alternative to solar panel manufacturing. What was only an idea in 2014, turned into a business in 2018 and has grown and flourished into a company with three locations worldwide and a product ready for market.
How has being a member of the Mohammed Bin Rashid Innovation Fund's (MBRIF) accelerator programme helped expedite your growth?
We consider the Middle East, and particularly the UAE, as a great territory in terms of expansion. First, the country is very active in space exploration and there are many opportunities to scale the innovative technologies that we are developing. Our engineers also have a chance to participate in pioneering space programmes. Secondly, the region is transitioning quickly to renewables and solar.
A product like our TerraBox, a mobile containerised solar panel factory able to produce solar panels using only sand and electricity, fits particularly well within the strategy to be more independent while fostering local manufacturing. The MBRIF programme was very useful to better understand the specific challenges of the UAE and Middle East, and to fine-tune our plans accordingly.
Tell us about your offering and its relevance to energy security both on the planet and off.
The TerraBox is a moveable solar panel factory, using locally available raw materials and electricity as its only inputs. The main value the TerraBox offers is:
A per watt price reduction of 30 per cent compared to conventional silicon solar panels (our panels are cheaper than Chinese panels).
Local production, reducing supply chains, associated emissions and enabling the local economy. Produces solar panels with a vast
reduction of CO2 emissions and chemicals usage in the production process.
Tell us about the technology driving your product. What makes it unique?
TerraBox utilises the latest ISRU and automated 4.0 processes to revolutionise the way in which panels are produced. The TerraBox is a factory in the field’, producing photovoltaic (PV) panels in a portable automated plant operated remotely. It requires only sand as the raw material input and, initially, electrical power supply until it has produced enough panels to run autonomously with the power generated by those panels. Each panel produced can be installed to start generating electricity.
We are using the most advanced developments in mechanical, thermal and electrical engineering. We are specialists in mining, metallurgy and material science. The TerraBox will be fully remote controlled and embedded with sensors. Once our fleet of TerraBoxes will be deployed across the world, we will collect a massive amount of data which will be processed via machine learning
“TERRABOX UTILISES THE LATEST ISRU TECHNOLOGIES AND AUTOMATED 4.0 PROCESSES TO REVOLUTIONISE THE WAY IN WHICH PANELS ARE PRODUCED. THE TERRABOX IS A FACTORY IN THE FIELD’, PRODUCING PHOTOVOLTAIC (PV) PANELS IN A PORTABLE AUTOMATED PLANT OPERATED REMOTELY”
for continuous improvement of our machines and operations.
By providing an in-situ solution that simplifies the manufacturing process chain and cuts costs, we offer a real and short-term solution for sustainable power generation to curb global warming while reducing costs for developers. Compared with panels produced conventionally, we are lowering the levelised cost of electricity, improving the financial viability of solar projects. We provide a safe disposal of the PV panels, and we reduce disposal costs, due to almost zero carbon emissions, no toxic chemicals and no hazardous waste.
Solar panels are 99.9 per cent recyclable by TerraBox. Plus, there’s no carbon offset versus four years for typical panels to offset CO2 emissions from manufacturing.
Shed some light on the funding you have received and how you plan to use it.
We've been able to develop the company, thanks to large R&D contracts with the Luxembourg Space Agency and the European Space Agency, as they support our long-term vision to become the utility company of the solar system.
Recently, we've started welcoming private investors on board; it’s something we will continue in the coming years to pursue our growth.
Tell us about your plans for the future.
In 2023, we will have our 1MW prototype TerraBox. We are aiming at deploying the technology in UAE with a first pilot project. In the following years, we will pursue our expansion with commercial projects around the world. Our plan is to have multiple plants producing our TerraBoxes on all continents and operate a large fleet of TerraBoxes to deliver gigawatts of solar panels.
What inspired you to start Leap?
I moved to Dubai after a stint in New York with a leading marketing agency. Dubai is a city with massive opportunities.
I briefly worked for a tech startup based here and that’s where I started to really think about gaps in the market and how we could introduce something impactful in the region. After several months of researching the market and shortlisting a few potential ideas – the concept of improving financial literacy amonf the youth seemed most impactful.
Firstly, the financial literacy rate in MENA is currently below the global average (30.5 per cent) and at the same time, smartphone adoption among youth is one of the highest in the world. It was a perfect recipe for us to come in and bridge the gap between the two.
Leap’s on a mission to teach kids good money habits at an early age.
The concept of an app that teaches kids money habits really came from spending time with young relatives and noticing parents were still using the points system for rewards. Basically, the same point system my parents used on my brothers and I growing up in the 90s.
That was an eye-opener and I started questioning how something as important as this hasn’t still caught up with technological advancements.
There are many other financial literacy apps in the market, what makes Leap any different?
When we first set out to build Leap, we carried out a deep dive into the market to really understand what parents and kids wanted most in a pocket money management app. We used that as a starting point and narrowed down on how can we create an incredibly easy experience that’s designed for both parents and kids.
The app is built from the ground up and puts the combination of financial literacy and user experience at its core. The app encourages a transparent, fun and engaging education in money management that’s very easy to use for both parents and kids.
We’ve made it simple for kids to learn by doing with the parental oversight needed to help guide them along the way.
We’ve also rolled out unique features such as 'Savings on Autopilot' and 'Savings Streaks' and that incentivises responsible spending and saving habits. And there’s more to come: new bespoke features, bundled subscription plans and a few more updates to look forward to.
“THE APP ENCOURAGES A TRANSPARENT, FUN, AND ENGAGING EDUCATION IN MONEY MANAGEMENT THAT’S VERY EASY TO USE FOR BOTH PARENTS AND KIDS. WE’VE MADE IT SIMPLE FOR KIDS TO LEARN BY DOING WITH THE PARENTAL OVERSIGHT NEEDED TO HELP GUIDE THEM ALONG THE WAY”
Any challenges creating Leap?
Starting any business has a lot of ups and downs, learnings and of course, challenges. With that said, the UAE has really invested in the startup community by putting policies in place that foster and support entrepreneurship. Setting up base in DIFC made it a lot easier for us to build a strong foundation and be able to hit the ground running – building an app from the ground up and truly turning our vision into reality.
What is Leap’s business model?
Leap offers a monthly subscription at Dhs20. We will be launching annual and family plans soon so stay tuned.
Have you received any funding? What about your future plans?
We’re pleased to have recently closed our pre-seed round. From the get go, Leap has been an extremely lean business. We take the same mindset of cautious spending that we’re teaching kids as an approach to how we run our business. Spending cautiously and keeping a lean yet efficient approach is something Leap will carry on as we scale up.