Arnergy builds and installs solar systems and battery storage for homes and businesses across sectors including hospitality, education, finance, agriculture, and healthcare. Its lease-to-own product, Z Lite, has become a core focus as customers shift from outright purchases to monthly payment plans. The company has deployed over 1,800 systems across 35 Nigerian states, totaling 9 MWp of solar and 23 MWh of battery storage. Outright purchases comprised 60–70% of revenue in 2023 but fell to 25% last year as lease-to-own adoption grew; Arnergy tripled its lease customer base between 2023 and 2024 and expects 4–5x growth this year. Naira revenues have climbed and are on track to quadruple by year-end, while dollar revenues remained flat due to currency devaluation; the company is building FX revenue through dollar-denominated B2B2C partnerships and potential expansion into Francophone Africa. To scale, Arnergy is shifting from in-house sales to a partnership-driven model and is pursuing local debt from banks and DFIs to support energy-as-a-service projects. Arnergy designs, sells and installs distributed solar PV and lithium battery energy storage systems for residential customers and commercial sectors such as hospitality, education, finance, agriculture and healthcare. Its systems are tailored to address intermittent grid supply and enable customers to switch from petrol/diesel generators to cleaner, lower-cost solar power. The company has deployed over 7MW of solar PV and installed more than 20MW of lithium battery energy storage solutions; prior to its 2019 Series A it had installed over 2MW for more than 2,000 clients. Arnergy reports a 10x revenue growth over the last five years and has historically derived about 75% of revenue from outright sales, though it is now increasingly bullish on lease products. The startup operates across Nigeria and intends to maintain service provision in all 36 states via min-grid developers. Management plans further expansion and is preparing a Series B round scheduled to close this quarter to accelerate adoption within and outside Nigeria. Arnergy provides distributed renewable energy systems that combine solar power, storage solutions and proprietary remote management technologies to address intermittency and grid unreliability. Led by founder and CEO Femi Adeyemo, the Lagos-based company tailors affordable energy solutions for business and residential customers. Since launch it has delivered over 2MW of installed capacity and more than 5MWh of storage capacity across Nigeria. The company offers 5kW modular systems and targets verticals including small businesses, healthcare, hospitality, financial services, agribusiness and education. Arnergy intends to use recent funding to accelerate commercial growth and expand energy reliability to more customers.

Total raised

$27M

Funding rounds

3

Latest round

Series B

Latest activity

Apr 2025