Octopus Energy Group has made a strategic investment into MOPO, a tech company providing clean energy to Sub-Saharan Africa.
Since launching in 2017, the Sheffield tech firm has delivered over 25m solar battery rentals across the region, which includes Nigeria, the Democratic Republic of Congo, Sierra Leone and Liberia.
“At MOPO, we are transforming Africa’s energy landscape by providing affordable access to sustainable electricity in areas with poor energy infrastructure,” explained Chris Longbottom, CEO of MOPO.
“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.”
Details of the investment haven’t been revealed, but MOPO employs 1200 staff and has seen year-on-year revenue growth of 300%.
Its batteries and solar-powered hubs are installed and run by local technicians and agents, creating thousands of green jobs for local communities.
Octopus said the investment marked its next step to expand renewable energy access globally.
“MOPO has mastered how to provide affordable, green power to communities in Sub-Saharan Africa, which suffer from unstable or no access to the grid,” explained Greg Jackson, Founder and CEO of Octopus Energy Group.
“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.”
