UK-based clean energy company MOPO has secured a £5 million ($6.7 million) investment from Norfund, Norway’s development finance institution. The funding strengthens MOPO’s push to scale its solar-powered battery rental service across Sub-Saharan Africa. It follows earlier backing from Octopus Energy and British International Investment, reflecting rising investor conviction in distributed, pay-per-use electrification models.
Investment Details
Norfund’s commitment brings new institutional heft to MOPO’s expansion plan and validates a model that blends impact with commercial viability. The round, equivalent to roughly $6.7 million, is aimed at accelerating deployments and deepening market penetration in current operating countries. MOPO reports rapid momentum, citing approximately 300 percent year-on-year growth and steadily improving unit economics.
Company Background and Model
MOPO operates solar charging hubs run by local agents, who rent portable batteries to households and small businesses on a pay-per-use basis. This approach removes upfront costs for customers and avoids consumer debt, while ensuring reliable access to power during outages or in off-grid settings. The rental system is designed to be cash-flow friendly for users and operationally scalable for MOPO.
Product Portfolio and Use Cases
The company’s products include the MOPO50, which supports lighting, phone charging, and small appliances, and the higher-capacity MOPOMax for tools, refrigeration, and e-mobility. Together, these devices replace costly and polluting petrol generators with clean, modular storage that can be swapped and recharged as needed. MOPO says the service has completed more than 28 million rentals to date, demonstrating repeat usage and product-market fit.
Geographic Footprint and Operations
MOPO currently operates in Nigeria, the Democratic Republic of the Congo, Sierra Leone, Liberia, Chad, and Uganda. Growth is driven through a distributed network of local entrepreneurs who manage charging hubs and customer relationships. This channel strategy enables MOPO to expand in challenging markets while building community-level employment and service reliability.
Market Context and Impact
Africa’s electricity access gap leaves roughly one billion people without dependable power, creating demand for affordable alternatives to fossil fuel generators. MOPO targets this opportunity directly, positioning the MOPOMax against a generator market estimated at about USD 75 billion annually. By substituting batteries for fuel, the company reduces operating costs for users and cuts emissions and noise pollution in dense neighborhoods.
Investor Perspectives
For Norfund, the deal aligns with a mandate to create jobs, improve lives, and support a net-zero transition in developing economies. The fund’s investment signals confidence that MOPO’s unit economics and operational model can scale sustainably across multiple markets. Prior support from Octopus Energy and BII adds strategic depth, reinforcing the view that distributed storage can become core energy infrastructure.
Technology and R&D
MOPO collaborates with the University of Sheffield, a recognized center for battery research, to improve performance, longevity, and affordability. The company’s R&D priorities include enhancing energy density, lowering lifecycle costs, and optimizing charging algorithms for tropical environments. Continuous upgrades aim to extend device utility for everything from home lighting to refrigeration and small machinery.
Customer Outcomes and Adoption
Field evidence points to tangible improvements in daily life and business continuity for users who switch from kerosene and petrol to batteries. Households gain dependable lighting and phone charging after dark, while micro-retailers and service providers maintain cold chains and equipment uptime. As reliability improves, repeat rentals increase, creating a virtuous cycle between customer satisfaction and revenue predictability.
Outlook and Expansion Plans
With new capital and institutional partners, MOPO plans to expand its network of agents, charging hubs, and inventory across existing and adjacent markets. The company aims to scale responsibly, balancing rapid growth with training, data-driven operations, and local supply-chain capacity. Success hinges on maintaining affordability, minimizing downtime, and continuing to outcompete generator economics.
MOPO’s Norfund-led infusion marks a meaningful vote of confidence in pay-per-use battery rentals as a practical pathway to clean energy access. The combination of rising demand, proven repeat usage, and ongoing R&D positions the company to capture share from fossil-based incumbents. If execution stays tight, MOPO could become a pivotal player in Africa’s next phase of decentralized, lower-carbon electrification.