A start-up company in Africa that lets customers rent portable, solar-charged batteries has received a strategic investment from Octopus Energy Group.
The global clean energy firm announced the strategic investment in MOPO – “a pioneering energy tech company delivering clean, reliable energy to underserved communities in Sub-Saharan Africa” – on 12 June.
As Octopus explains, MOPO runs a savvy, proven and scalable, pay-per-use system that lets customers rent portable, solar-charged batteries from local hubs. The company’s proprietary solar-powered batteries offer a sustainable, more affordable alternative to costly, polluting petrol generators – commonplace across the region and harmful to health and the environment.
MOPO currently has two battery sizes available to rent which deliver clean, reliable power to areas with unstable or zero grid access. The compact MOPO50 is designed for personal use like phone charging and lighting, and the larger MOPOMax is capable of running fridges, cooking equipment, sewing machines and e-motorbikes, helping local businesses thrive.
Both MOPO batteries and its cutting-edge digital platform, which optimises rental distribution, are designed in-house. MOPO’s solar-powered hubs are installed and run by local technicians and agents, creating thousands of green jobs for local communities.
Since launching in 2017, MOPO has delivered over 25 million battery rentals across Nigeria, the Democratic Republic of Congo, Sierra Leone and Liberia. Demonstrating its growth trajectory and demand, the company recently reached the milestone of one million battery rentals per month. With 1,200 employees, and year-on-year revenue growth of 300%, MOPO is scaling fast.
“Octopus Energy’s investment in MOPO marks the next step in its mission to expand renewable energy access globally, helping to deliver green energy to the 600 million people in Sub-Saharan Africa currently without reliable access to power*,” said the group.
The deal follows Octopus’ project with local partners to build Sierra Leone’s first wind farm on Sherbro Island.
Greg Jackson, Founder and CEO of Octopus Energy Group, said: “MOPO has mastered how to provide affordable, green power to communities in Sub-Saharan Africa, which suffer from unstable or not access to the grid.
“By harnessing the power of the sun, Octopus and MOPO can make a big leap forward in accelerating electrification in the region – leapfrogging dirty fossil fuels, and bringing clean, reliable power to the communities that need it the most.”
Chris Longbottom, CEO of MOPO, said: “At MOPO, we are transforming Africa’s energy landscape by providing affordable access to sustainable electricity in areas with poor energy infrastructure.
“This funding and the strategic partnership will enable us to accelerate the scaling of our business in a market where the power supply deficit is particularly acute. With more than 600 million people across the continent lacking reliable grid infrastructure, the opportunity is vast – something we believe our new shareholders fully recognise.”
Ibrahim Bangura, a MOPO customer in Sierra Leone, said: “Before MOPO, my family struggled with unreliable energy and high costs. Now, we have consistent, affordable power that helps my children study after dark, and I can run my business more reliably. MOPO has changed my life!”
*Sustainable Development Goal 7: Access to Electricity, Data & Projections, International Energy Agency (IEA)
