Octopus Energy Group has made a strategic investment into MOPO, a Sheffield-based energy tech company delivering clean, reliable energy to underserved communities in Sub-Saharan Africa.
MOPO runs a 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.
Since launching in 2017, MOPO has delivered over 25 million battery rentals across Nigeria, the Democratic Republic of Congo, Sierra Leone and Liberia. 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%.
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.
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 no 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.”
