Sheffield tech firm MOPO has secured £5m funding from Norfund, the Norwegian government’s international climate-related fund.
MOPO is at the forefront of sustainable energy access via its solar-powered battery rental model, already backed by Octopus Energy and British International Investment (BII).
The firm is rapidly scaling across Sub-Saharan Africa to tackle ‘energy poverty’, with more than 28m battery rentals completed to date and 300% year-on-year growth. It has a presence in Nigeria, the Democratic Republic of Congo, Sierra Leone, Liberia, Chad and Uganda.
Its pay-per-use battery rental system provides households and businesses with clean, reliable power via solar charging hubs operated by local agents. Its two core products, MOPO50 for lighting, phone charging and small appliances, and MOPOMax for higher-load devices, generators, small businesses and e-mobility, are designed to replace expensive and polluting fossil fuel alternatives.
“We’re delighted to welcome Norfund as the latest major investor to join the MOPO journey,” said Chris Longbottom, CEO of MOPO.
“This is a strong signal that our model, combining impact, innovation, and commercial return, is working.
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“With Octopus and BII already behind us, Norfund’s support reinforces the belief that MOPO is a standout solution to the clean energy challenge. Demand is growing fast across Sub-Saharan Africa, and this investment will help us scale even faster to meet it.”
The company collaborates closely with The University of Sheffield, one of the world’s leading battery research centres, where its R&D team continues to enhance battery performance, reduce costs and improve efficiency, while delivering a commercial sustainable model.