Mobile Power Ltd (MOPO), the pay-per-use battery technology company, has secured £2.5m in funding to accelerate the expansion of its solar charged hub-based battery rental business in the Democratic Republic of the Congo (DRC). The funding comes from The Beyond the Grid Fund for Africa (BGFA), a Scandinavian multi-donor environmental and climate-focused fund.
MOPO operates through its solar-powered hubs and a network of local agents, providing clean energy to households, small businesses, and electric vehicles. The unique pay-per-use battery sharing service requires no deposit, no debt, and allows customers to access power on their own terms. The rented batteries are then returned to the MOPO hub after use.
The company has developed two MOPO battery models, the MOPO50 and the MOPOMax. The MOPO50 provides basic household energy, while the larger MOPOMax is suitable for battery swap e-motorbike taxis and replaces small petrol generators. MOPO’s business model has already been successful in Nigeria, Sierra Leone, Liberia, Chad, Uganda, and DRC, with over 14 million battery rentals completed to date.
The funding will benefit MOPO’s 100% subsidiary, MPDRC, and is expected to provide sustainable energy access to over 320,000 end-users in the DRC. Additionally, MOPO plans to expand its operations across Africa, focusing on product development and scaling up its presence.
CEO Chris Longbottom expressed his satisfaction with the support received from BGFA and emphasized their unique business model that aims to transform power access for hundreds of thousands of people. He also mentioned that MOPO is in talks with multiple partners to secure additional financing for their successful business model.
Nefco’s Senior Programme Manager, Kari Hämekoski, highlighted the importance of mobilizing private financing to accelerate access to modern, clean, and affordable energy. BGFA has contracted 25 companies across Burkina Faso, DRC, Liberia, Uganda, and Zambia, with the potential to reach up to 8.6 million people.
Frequently Asked Questions (FAQs):
1. What is Mobile Power Ltd (MOPO)?
Mobile Power Ltd (MOPO) is a pay-per-use battery technology company that operates through solar-powered hubs and a network of local agents. They provide clean energy to households, small businesses, and electric vehicles.
2. Where has MOPO been successful?
MOPO’s business model has already been successful in Nigeria, Sierra Leone, Liberia, Chad, Uganda, and the Democratic Republic of the Congo (DRC).
3. What is the funding secured by MOPO for?
MOPO has secured £2.5m in funding from The Beyond the Grid Fund for Africa (BGFA) to accelerate the expansion of its solar charged hub-based battery rental business in the DRC.
4. What is the unique feature of MOPO’s pay-per-use battery sharing service?
MOPO’s pay-per-use battery sharing service requires no deposit, no debt, and allows customers to access power on their own terms. The rented batteries are then returned to the MOPO hub after use.
5. What are the two battery models developed by MOPO?
MOPO has developed two battery models: the MOPO50, which provides basic household energy, and the MOPOMax, which is suitable for battery swap e-motorbike taxis and replaces small petrol generators.
6. How many battery rentals have MOPO completed to date?
MOPO has completed over 14 million battery rentals to date.
7. How will the funding benefit MOPO?
The funding will benefit MOPO’s 100% subsidiary, MPDRC, and is expected to provide sustainable energy access to over 320,000 end-users in the DRC. MOPO also plans to expand its operations across Africa, focusing on product development and scaling up its presence.
8. Who else is MOPO in talks with?
MOPO is in talks with multiple partners to secure additional financing for their successful business model.
Definitions:
– Pay-per-use: A payment model where customers pay for a service only when they use it.
– Renewable energy: Energy derived from natural resources that are constantly replenished, such as solar, wind, or hydro power.
– Battery swap: The process of exchanging a depleted battery for a fully charged one.
Related Links:
Beyond the Grid Fund for Africa