Mobile Power Limited, Nigerian Alternative Power Company Secures £1 Million From All On

Mobile Power Limited has received a £1 million investment from All On, an independent impact investing firm with Shell funding, to support the expansion of its Pay-per-use battery sharing platform in Nigeria.

Through its creative and cheap solutions, such as MOPO, an energy distribution platform, Mobile Power supplies clean and economical energy to the off-grid market throughout sub-Saharan Africa. Since 2021, All On has been supporting Mobile Power’s entry into the Nigerian market non-financially through the All On Hub.

Throughout sub-Saharan Africa, solar-powered MOPO Hubs provide electricity to homes, businesses, and electric vehicles via pay-per-swap MOPO Batteries. Mobile Power will be able to expand the use of its pay-per-use battery-sharing technology in Nigeria thanks to the financing.

This is consistent with All On’s aim to fund the development of off-grid energy solutions using solar, wind, hydro, biomass, and gas technologies that are used by international and domestic access-to-energy firms to supplement grid power in Nigeria and close the country’s sizable energy gap. The impact investment firm, which has a particular focus on the Niger Delta region, received its initial seed funding from Shell.

Customers can hire lithium-ion batteries from 50Wh to 1000Wh using the MOPO platform for 24-hour intervals. In Nigeria, Mobile Power currently has approximately 40 hubs deployed in the states of Ekiti and Ondo. Since the company’s operations began in 2021, it has allegedly powered 20,000 homes and 1,000,000 rentals.

The investment from All On will assist Mobile Power in carrying out its goals to expand the number of its current deployments across Nigeria.

Acting CEO and Investment Manager of All On, Afolabi Akinrogunde, said in a statement provided to TechCabal that the deal “fully aligns with All On’s mission to support the deployment of innovative and user-friendly renewable energy solutions, particularly for Nigeria’s underserved and unserved markets. In order to develop this paradigm and provide Nigerians financially viable decentralized renewable power options, we look forward to continuing to collaborate with the MOPO team.

Mobile Power was founded in 2013, started in Sierra Leone, and joined the Nigerian market in 2021. In the areas where its MOPO agents are active, Mobile Power’s business strategy focuses on optimizing battery leases and aggregating last-mile demand.

The company accomplishes this by incorporating incentives to affect the behavior of agents and customers into the product’s technology and pricing.

“Nigeria is currently our fastest growing market, and we are very happy for our cooperation with All On,” said Chris Longbottom, CEO of Mobile Power Limited in a statement sent to TechCabal. “It will accelerate growth in residential energy and replace urban generators.”