Grace Ashiru
All On, an independent impactinvesting firm backed by Shell, has announced that it has invested one million pounds in Mobile Power Limited. This investment is intended to increase the expansion of Mobile Power Limited’s Pay-per-use battery-sharing platform in Nigeria.
Mobile Power serves the off-grid market throughout sub-Saharan Africa with its creative and cost-effective solutions, such as MOPO, an energy distribution platform. This allows Mobile Power to supply electricity that is both clean and economical.
Since 2021, All On has been assisting Mobile Power in entering the Nigerian market by giving the company non-financial support, which it receives through the All On Hub.
MOPO Hubs, which are powered by solar energy and may be found all over sub-Saharan Africa, supply pay-per-swap MOPO Batteries with electricity for use in homes, businesses, and electric transportation. With the money, Mobile Power will be able to grow its pay-per-use platform for sharing batteries in Nigeria. Because of this funding, Mobile Power will be able to accelerate the expansion of its pay-per-use battery-sharing business within the Nigerian market.
This is in line with All On’s mission to invest in off-grid energy solutions like solar, wind, hydro, biomass, and gas technologies used by both foreign and local access-to-energy companies to supplement Nigeria’s grid power and help close the country’s large energy gap.Shell provided the initial investment for the start-up impact investing company, which places a particular emphasis on the Niger Delta region..
Customers have the option to hire lithium-ion batteries ranging from 50Wh to 1000Wh through the MOPO platform for periods of 24 hours. Over forty of Mobile Power’s Nigerian hubs are currently located in Ekiti and Ondo, where the company has established operations.
Since it first began conducting business in 2021, the company claims that it has provided electricity to 20,000 private residences and one million rental properties. The investment from All On will assist Mobile Power in carrying out its goals to boost the current number of deployments across Nigeria.
Afolabi Akinrogunde, who is serving as All On’s Acting CEO and Investment Manager, made these comments in a statement that was provided to TechCabal.All On’s goal is to help implement innovative and easy-to-use renewable energy solutions, especially for markets in Nigeria that aren’t being served or aren’t being served enough. This arrangement is perfectly aligned with that mission and supports the deployment of such solutions.
We are looking forward to continuing our collaboration with the MOPO team to develop this model and provide Nigerians solutions for decentralized renewable electricity that are commercially sustainable.
Mobile Power was started in 2013 and started doing business in Sierra Leone. In 2021, it started doing business in Nigeria. Mobile Power’s approach to conducting business is predicated on aggregating demand for services provided in the “last mile” and optimizing battery leasing rates in the communities in which its MOPO agents are active. The company can accomplish this by incorporating incentives into the product’s technology and pricing to influence the behavior of agents and customers.
Chris Longbottom, CEO of Mobile Power Limited, said in a statement shared with TechCabal, We are enthusiastic about our relationship with All On, which will accelerate growth in household energy and replace urban generators. Nigeria is now our market with the quickest growth rate, and we are delighted with this development.
