Technology is making the lives of humans easier in many domains and Gasable is ensuring the same applies to energy.
Saudi-based startup, Gasable, is the brainchild of a group of ambitious entrepreneurs who were determined to meet the energy needs of consumers and businesses worldwide. Founded in 2016, Gasable aims to become the region’s preferred all-inclusive energy marketplace through the power of technology, and has big ambitions for growth. In fact, in December 2021,the company closed its series A round at almost $3.1 million.
Gasable currently operates in five countries including K.S.A, Jordan, Ecuador, the U.A.E., and Pakistan, and has successfully served more than 1.5 million clients worldwide, with more than two million orders delivered to doorsteps. Now, the startup intends to continue seizing the rapidly increasing investment opportunity. In 2021, annual global investment in the energy domain almost hit $1.9 trillion and Gasable intends to list on the U.S. stock markets, in line with its plan to relocate its headquarters there.
According to Ali Ghnaim, Gasable co-founder and CEO, quality energy on demand is an opportunity that is almost untapped, especially in the Gulf and wider Middle East. Zooming in on Saudi Arabia’s gas cylinder market, 110 million cylinders worth $444 million were refilled last year alone, meeting the needs of six million families. This is illustrative of a situation in which people and businesses are forced to seek delivery services for traditional cooking and heating, as well as industrial usage of gas cylinders. Whoever the customer, gas delivery operations are exhausting, time-consuming and challenging, given the weight of cylinders and the risks associated with delivery to customer doorsteps.
In the face of these obstacles, Gasable has entered the market with an innovative solution. From the outset, Ghnaim and his partners, Obieda Gazal, co-founder and CTO; Loay Hussein, co-founder and CBO; and chairman of the board, Thamer Al Yemni, noticed that technology now makes it possible to reach a large number of people and provide them with services that make life easier.
The Gasable platform offers customers a digital solution to their day-to-day energy needs and is also working to integrate its services with the IoT revolution. Here, the company is starting with a smart gas level sensor, which automatically measures how much gas is left in each cylinder and arranges a refill for end users at a time of their choosing.
Currently, Gasable is planning to expand its presence worldwide by forming alliances with energy market giants and decision makers, especially in renewable energy and EV products, which scored a market cap of $170 billion in 2020.
Gasable’s mission is to spread the digitalization of energy on demand services with the highest possible quality to clients world-wide. What’s more, the startup is committed to helping in the global fight against climate change. Gasable’s fleet is EV-based while its smart route optimizer reduces the distance travelled during deliveries and decreases carbon emissions. Looking ahead, Gasable invites others to join the journey in empowering the cause.
Read the Forbes Middle East article