Alexa Oviedo

TBY talks to Alexa Oviedo, CEO of o3 Smart Cities, about renewables in Colombia, raising capital, and goals for the coming years.

How would you situate o3 Smart Cities within the renewable sector in Colombia?

O3 Smart Cities SAS BIC is a 100% Colombian certified company that seeks to improve the quality of life of Colombians through renewable energies and electric micro mobility. We accompany our clients towards carbon neutrality by walking a climate path to reduce gaps in transportation and energy, contributing to sustainability, climate change mitigation and promoting alignment with the goals of our country in reducing greenhouse gas emissions. We contribute with clean energy in territories or areas that are not interconnected to the grid, generating equity and opportunities for Colombian families. We improve air quality by promoting zero-emission mobility. We care for our important water sources and promote economy and new opportunities for Colombian industries by acquiring solutions from non-conventional energy sources.

What has been the reception to o3 in terms of raising capital and attracting investment?

In the first years of the company, we focused on our business structure. A small project is about 100-500kW or perhaps 1MW; however, we are now starting to see 3-5MW of electricity from renewables, and that requires a great deal of capital. Currently, we are looking at what we need to take that next step. We are also doing new things; for example, because of all of the logistic issues with China, we have started looking for local sources and production. We are looking at the circular economy and have a program to recover computers, printers, and related equipment that people do not use or does not work anymore. We want to expand that business unit and need more investment there.

What are the immediate priorities looking at the end of 2022 and going into 2023?

We aim to grow 100% each year over the next four years in both units. Last year, we sold almost 1 million USD, and this year we target at least 4 million. In 2023, we hope to do at least 8 million USD. We see great potential. Looking at the first half of this year, there was growth of electric mobility in Colombia of more than 260%; it is an exponentially growing market. In numbers, that is our target. In impact, we are also doing the same. We also aim to connect better with other stakeholders while launching this new circular economy for scooter parts next year, which we aim to do not only for our business, but part of other markets as well. We also plan to export more.

What does sustainability mean for o3?

O3 Smart Cities SAS BIC is a triple impact company whose transformational purpose is to make sustainability a smart lifestyle to improve the quality of life of Colombians. Our products contribute to climate change mitigation and social equity in the country through access to non-polluting energy. Our policies and practices include promoting sustainability, moving towards carbon neutrality in organizations, generating employment, promoting volunteering, promoting gender equity, benefiting our employees, participating in collective growth spaces and promoting transparency and good practices from corporate governance and with all our stakeholders. Last but not least, we constantly practice to positively impact our square meter by generating collective economic, social and environmental value.