The United Kingdom’s Renewable Energy Performance Platform (REPP), part of the Department for Business, Energy and Industrial Strategy, on 11 December announced that it had signed an agreement to invest £1m ($1.3m) equity in renewable-powered battery rental company Mobile Power. The investment was part of a £2m Series A funding round.
UK-based Mobile Power was founded in 2013 and currently operates in Liberia and Sierra Leone. The company will use the proceeds of the funding round to begin operations in Nigeria next year and to build on existing partnerships in Gambia, Uganda and Zambia.
Mobile Power allows customers to rent 50Wh batteries in 24-hour increments, making payments in cash or with mobile money. REPP said that Mobile Power’s products do not require either consumer debt or a long-term commitment. The batteries can be used for lighting, phone charging, fans, TVs, and radios and are charged using solar power at ‘MOPO Hubs’.
REPP investment manager Camco Clean Energy chief executive Geoff Sinclair said that, “Mobile Power’s novel business model provides a scalable solution that, with the support of REPP and other Series A investors, has great potential for rapid growth and delivering far-reaching impact.”
Image showing off-grid projects in Liberia and Sierra Leone. Source: African Energy Live Data
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