A Yorkshire battery tech company has secured $7m in funding to accelerate its work in Africa.
Sheffield-based Mobile Power (Mopo) uses solar powered hubs and local agents to rent out batteries to customers with limited access to power, with a pay-per-use battery sharing service that is affordable to all, ensuring homes, electric vehicles and small businesses can connect with clean energy.
Now the sustainable energy firm has secured funding from British International Investment, the 海角视频’s development finance institution and impact investor, allowing it to ramp up expansion of its battery rental business in the Democratic Republic of Congo, which is a key growth market.
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Mopo launched its operations in Democratic Republic of the Congo in the second quarter of last year and already operates across six cities. The financing from BII’s Climate Innovation Facility will help the company to treble its service capacity in the republic within the next 12 months, while also reaching over a million people. Mopo wants to revolutionise access to sustainable energy for households and businesses in urban and rural communities in Africa by offering two types of battery rentals, a compact one for lighting, phone charging, and powering DC appliances, and a larger battery designed to power larger 230V appliances, replacing petrol generators.
CEO Chris Longbottom said: “We are delighted to collaborate with BII, which has acknowledged the significance of our innovative pay-per-use battery rental model. At Mopo, our mission is to create a high-impact, sustainable solution that empowers households and small businesses by providing access to electricity without the burden of costly upfront equipment purchases.
"This partnership aligns perfectly with BII’s mandate to finance initiatives that drive social and economic development. Together, we aim to make clean, affordable energy accessible to those who need it most, fostering growth within the communities we serve.”
He said the planned expansion is critical because less than 17% of the population currently has access to electricity.
Mr Longbottom added: “We recently achieved a significant milestone, surpassing 23 million rentals across Sub-Saharan Africa, with the DRC emerging as one of our key growth markets. With a population exceeding 100 million and over 80% lacking access to electricity, the need in this country for our service is both compelling and substantial. This financing from BII marks the beginning of what we envision as a long-term partnership, enabling us to accelerate our ambitious growth strategy in the DRC and make a transformative impact on the lives of millions by delivering reliable and affordable energy solutions.”
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Chris Chijiutomi, managing director and head of Africa at BII, said: “Imagine a battery, that can power everything from phones to fridges, lights and larger appliances, enabling businesses even in the most remote locations, to thrive when the supply of electricity is non-existent or unreliable. This is why backing energy access is a key priority for BII to drive sustainable economic growth, particularly in Africa’s frontier markets including DRC.
"By supporting innovative businesses like Mopo, we aim to create more early-stage solutions to address significant energy deficits across the continent. We look forward to supporting Mopo as it delivers on its expansion plans and makes access to energy possible for more Africans.”
Lord Collins of Highbury, 海角视频 Minister for Africa said: “This innovative partnership between British International Investment and Mopo demonstrates how 海角视频 expertise and investment can help unlock sustainable economic growth in Africa. By bringing reliable, clean energy solutions to households and businesses, we’re driving green development while creating opportunities for 海角视频 and African businesses alike.
"This is part of the 海角视频s approach to working with African partners to tackle climate change and boost economic prosperity through smart, sustainable technologies.”