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Johannesburg-based Creslow Energy Solutions, a 100 per cent Black-owned manufacturer of lithium-ion batteries, has secured an undisclosed investment from the Abadali Fund to scale its operations and deepen its footprint in South Africa’s industrial and mining sectors. The investment was driven in part by the company’s development of the world’s first explosion-proof lithium battery for coal mining operations.
Creslow, which is also 50 per cent Black Women-owned and holds a Level 1 B-BBEE status, designs and assembles customised lithium batteries for original equipment manufacturers (OEMs) across South Africa’s industrial, leisure, and mining sectors. The company was founded in 2021 by husband-and-wife team Kriban and Reneka Govender.
The Abadali Fund, a Black Business Growth Fund, forms part of the Abadali Equity Equivalent Investment Programme (EEIP), a South African economic inclusion initiative by the Department of Trade, Industry and Competition (DTIC) in partnership with JPMorgan, and managed by Edge Growth Ventures. The fund currently has over $18.5 million (R300 million) under management and is designed to extend debt financing to eligible, majority Black-owned and controlled enterprises primarily operating in the industrial, green, and township economy sectors.
The investment will enable Creslow to further scale its operations and vertically integrate its battery production process, improving efficiency, strengthening quality control, and enhancing cost competitiveness. It will also support the company’s expansion into the manufacturing of mining locomotive batteries and the upskilling of locally sourced staff, including engineering technicians, quality controllers, and sales personnel.
Additionally, the funding will support the continuation of Creslow’s student apprenticeship programme, run in partnership with industry partners FezaMax and SOL-TEC, which provides 12 to 18-month paid practical placements to approximately 40 young engineers.
In a statement, the fund notes that they were drawn to Creslow’s ability to manufacture locally in a market that has historically relied on fully imported batteries. Founded in a garage in 2021, the company has since scaled into a 3,146 sqm production facility, building a client base that includes some of South Africa’s leading industrial OEMs.
“What drew us to Creslow is their manufacturing capability, IP, and a founding team that has consistently found new markets before anyone else did,” said Philani Mzila, Investment Principal at the Abadali Fund, Edge Growth Ventures.
“Kriban and Reneka Govender have built a South African manufacturer competing on quality, turnaround time, and product innovation with a patent-pending mining product and stellar revenue growth to show for it. The Abadali Fund exists to back exactly this kind of business, and we are excited to be part of what comes next,” he added.
Since its founding, Creslow’s revenue has grown by more than 200 per cent on an average yearly basis, and the company currently serves more than 40 active clients. The company holds ISO 9001, ISO 14001, and ISO 45001 accreditations and employs a full-time staff complement of 25 with eyes set on global expansion.
“At Creslow Energy Solutions, we have always focused on pushing the frontier of new markets through the adoption of energy-efficient lithium battery technology across emerging industries. We have recently concluded a highly successful strategic trip to China, where we were invited to explore new opportunities within the agricultural equipment sector,” said Kriban Govender.
He added, “As a result, Creslow lithium battery technology has now been selected for integration into next-generation agricultural equipment, with the first products expected to launch within the next few months. This represents another important milestone in our strategy to expand South African-developed lithium technology into global industrial applications, with further exciting developments to follow.”
The investment also supports South Africa’s green economy transition, as Creslow’s lithium-ion batteries accelerate the retirement of lead-acid alternatives across industrial and mining operations, reducing emissions and improving workplace safety in some of the country’s most demanding environments.
