Impact investor All On has made a follow-on investment of $250,000 in Nigerian clean energy company ICE Solar, deepening its backing for the country’s small and medium-sized enterprises. Announced on November 12, 2025, the deal reinforces All On’s strategy of channeling capital into indigenous companies that expand access to reliable, sustainable power. ICE Solar focuses on energy-as-a-service solutions, positioning itself as a key enabler for SMEs that struggle with the high cost and unreliability of petrol generators.
Expanding Energy Access for Nigerian SMEs
The new funding will support the wider rollout of ICE Solar’s intelligent solar and battery systems to thousands of small businesses across Nigeria. By offering an alternative to diesel and petrol generators, the company aims to cut operating costs for SMEs while reducing exposure to fuel price volatility and frequent power outages. ICE Solar targets more than 2,000 SMEs with this phase of expansion, with the potential to displace thousands of small generators from daily use.
ICE Solar’s Energy-as-a-Service Model
ICE Solar operates an energy-as-a-service model that allows customers to access solar power through affordable, pay-as-you-go arrangements rather than large upfront purchases. Solutions are tailored to the power needs of each business, covering everything from basic loads to more energy-intensive operations. This structure helps SMEs manage cash flow more effectively while gaining consistent access to electricity that supports growth and productivity.
Technology-Driven Clean Energy Delivery
At the core of ICE Solar’s offering is a technology-driven platform that supports intelligent energy management and remote system monitoring. These capabilities enable the company to track performance in real time, optimize battery usage, and respond quickly to potential issues. Flexible payment options and data-backed insights further improve the customer experience, making clean energy not only greener but also more predictable and convenient than traditional generator use.
Strategic Alignment with All On’s Impact Mandate
For All On, the investment aligns directly with its mission to back scalable clean energy solutions in underserved markets across Nigeria. Chief executive Caroline Eboumbou has emphasized that SMEs are the backbone of the national economy and that dependable power is central to their resilience and long-term growth. She highlighted that ICE Solar’s model supports job creation, economic inclusion, and the wider energy transition by putting locally driven innovation at the center of the solution.
Advancing Nigeria’s Energy Transition and Economic Resilience
The partnership between All On and ICE Solar is also framed as a contribution to Nigeria’s broader climate and energy goals. Replacing petrol generators with solar and battery systems reduces greenhouse gas emissions, lowers air and noise pollution, and improves conditions in dense urban and peri-urban business clusters. As more SMEs adopt cleaner power, the cumulative effect supports a more resilient energy ecosystem that is less dependent on fossil fuels and better aligned with long-term sustainability targets.
ICE Solar founder and CEO Emmanuel Ekwueme has described the follow-on investment as a pivotal step in scaling clean, reliable power for businesses across the country. With All On’s continued backing, the company plans to accelerate the deployment of its intelligent systems, help SMEs cut energy costs, and anchor a shift toward a low-carbon operating environment. The deal underscores how targeted impact capital and local execution can combine to strengthen Nigeria’s renewable energy ecosystem while supporting the SMEs that drive its economic transformation.