All On invests £1m on renewable energy expansion in Africa
Leeds, England -- All On says it has made an additional investment of £1 million in MOPO, a company offering innovative pay-per-use battery solutions to individuals and businesses with no or unstable power infrastructure in Sub Saharan Africa.
This brings All On's total investment in MOPO to £2 million.
The new investment, according to the company, will support t h e expansion of MOPO's product line with the rollout of the MOPOMax, a generator replacement battery designed for both household and productive use applications.
“MOPO's innovative pay-peruse model has proven to be a successful solution for providing clean and affordable energy to underserved communities,” said the Chief Executive Officer, All On, Caroline Eboumbou.
“We are excited to support the rollout of the MOPOMax, we believe it has the potential to significantly impact, and unlock even greater economic opportunities for, MOPO customers. At All On, we are committed to supporting companies that address energy access challenges in innovative ways. MOPO's pay-per-use model has demonstrably improved lives, and the MOPOMax expansion aligns perfectly with our goal of empowering communities with sustainable energy solution," the company said.
MOPO Chief Executive Officer Christopher Longbottom, revealed that to support the expansion of the fully integrated pay per use MOPO rental model, the company has been progressing multiple financing options, adding that it chose to take up a blend of grant, equity, debt and management orientated contracts which translates into an improved financial matrix for investors.