Beyond the Grid Fund for Africa
Fabianinkatu 34, Helsinki, Southern Finland, FI-00100, Finland
Overview
Results-based financing for clean off-grid energy access.
Founded
2019
Deals · 12mo
0
Links
Stage focus
Geographic focus
Sector focus
Investment portfolio
- Mobile Power Ltd
Led · Equity · Jan 2024
Mobile Power operates a solar charged, hub-based battery rental service that uses local agents to rent proprietary MOPO batteries on a pay-per-use basis with no deposit and no debt. The company has two Mopo battery models developed at its R&D facility in Sheffield and is already operating in Nigeria, DRC, Sierra Leone, Liberia, Chad and Uganda. It has conducted over 14 million battery rentals to date, with about six million rentals occurring each year through its network of hubs and agents. Mobile Power says the DRC rollout funded by the latest financing will provide sustainable energy to more than 320,000 customers, and it anticipates its model could benefit eight million low-income people in the next ten years given limited infrastructure. The firm plans further product development and aggressive scaling across Africa and is pursuing additional partners and financing to aggregate its model.