Through its subsidiary Geocycle, the Franco-Swiss group LafargeHolcim has acquired a plant capable of converting 400,000 tonnes (per year) of household, agricultural and industrial waste into biogas, fuel oil or diesel. Lafarge also relies on the energy recovery of waste to power its plant. With this partnership, Lafarge wants to increase the share of clean electricity to 50% during the day at the Ain Soukhna plant. The company has less than two years to set up the installations since the contract with the cement manufacturer is due to come into force in 2024. The electricity produced will be sold to Lafarge Egypt. To achieve this, Lumika plans to build a 50 MWp solar photovoltaic power plant. The agreement signed with Lumika aims to provide 140 GWh of clean electricity per year. And in proportion to its size, the site consumes a lot of electricity. This is one of the largest cement plants in North Africa, with a production capacity of 10.2 million tonnes per year, thanks to its 2,000 employees. Lumika has committed to invest $93 million over the next few years to supply clean energy to Lafarge’s Ain Soukhna cement plant in the Suez governorate. Lafarge Egypt has just signed an agreement with Lumika Renewables, a joint venture between the South African industrial group Reunert and the investment company A.P. The Egyptian subsidiary of the Lafarge Holcim group wants to reduce its production costs in Egypt. This is one of the largest renewable energy projects for a commercial and industrial (C&I) customer in Egypt. The agreement is to supply solar energy to a Lafarge cement plant from 2024, for an investment of $93 million. What’s your perspective on the tension between the short-term, land grab mentality with all of the money being raised in the space vs.An agreement was recently signed between Lumika Renewables and Lafarge Egypt.Revenue from software or revenue from services-what’s your take, for not just Laika but all the SOC 2 compliance companies? To what extent would the mix shift to a place where you have more software revenue over time?.What’s the recurring value that people are paying for monthly? Is it that folk are adding enough new frameworks so you pay monthly to keep acquiring them? Your business model is a recurring subscription SaaS model.With regard to the SOC 2 and the certification, is it more of a checkbox-black and white-or is it like a gradient of how strong the certification is? Do enterprise buyers care about what's found, who did it, who the auditor is, and who's responsible for the SOC 2?.what it does today might change over time? If so, how? Will the human in the loop part be as important, always? Do you think what the software can do vs.Is Laika effectively replacing high-touch services businesses whose software consultants hand-hold companies in this segment? Or are you purely self-serve for compliance?. What’s your relationship with auditors? Does Laika employ auditors in-house, or is it more of a marketplace? Is Laika the core tool for those auditors, or is there a software stack that Laika is a part of, for them?.How exactly does your product work? What’s the core model or benefit-is it about connecting all these different stakeholders on a single platform, or more about e.g.Is there any kind of milestone or product-market fit signal that you would want to share?.What are the inefficiencies in the compliance process, or why is compliance difficult for companies to deal with? What’s the opportunity for Laika there?.What’s the core problem you're solving at Laika, and what does your core customer profile look like?.We talked to them to learn more about the revenue mix of compliance-as-a-service businesses, how they're thinking about evolving their models and margins over time, and how large the universe of expandable TAM is for these kinds of companies. Sam Li and Austin Ogilvie are the co-CEOs of Laika.
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