All On Closes $3 Million Bridge Round Investment with Arnergy to Boost Renewable Energy Access in Nigeria

Arnergy has established itself as a trusted partner for businesses and communities, offering reliable and sustainable renewable energy solutions since 2013 to address the pervasive energy reliability challenges across emerging markets. From comprehensive mini-grid development to efficient financing and ongoing support, their work bridges the energy gap and empowers Nigerians across diverse industries.

With the recent removal of fuel subsidies, escalating diesel prices, and increasingly stringent macroeconomic conditions, the imperative for energy cost savings has never been more critical for sustaining businesses and enhancing the quality of life for Nigerians.

The Chief Executive Officer, All On, Caroline Eboumbou who commended Arnergy’s unwavering dedication to clean energy solutions said, “We are proud of our partnership with Arnergy over the past years. Our investments into Arnergy have supported our goal to empower communities and create a cleaner future for Nigeria. Arnergy exemplifies the impact we strive to achieve at All On, innovative solutions and unwavering commitment to sustainability. This investment reaffirms our confidence in their ability to scale their operations and accelerate the adoption of clean energy in Nigeria and beyond.”

“The successful closure of this bridge round underscores Arnergy’s unwavering commitment to providing, one-stop-shop products and services to Nigerians through Mini-Grid Developers and accelerate the launch of our channel partnerships, installer, and distributor network across Nigeria with quality products and services at market-driven price points. said Femi Adeyemo, Founder and CEO, Arnergy. “With the support of our investors, particularly All On, we are well-positioned to capitalize on the increasing demand for solar systems and drive positive impact at scale,” he said.

All On is committed to continuing bringing innovative investment that will increase access to commercial energy products and services for under-served and un-served off-grid energy market in Nigeria. Arnergy is gearing to raise its Series B round, which is targeted for closure in Q1 2024. This next funding phase will enable the company to scale its operations further, deepen its impact, and catalyze the adoption of quality, affordable renewable energy products and solutions within and beyond Nigeria’s borders.

About All On

All On, an independent impact investing company, was seeded with funding from Shell, and works with partners to increase access to commercial energy products and services for unserved and underserved off-grid energy markets in Nigeria, with a special focus on the Niger Delta. All On invests in off-grid energy solutions spanning solar, wind, hydro, biomass and gas technologies deployed by both foreign and local access-to-energy companies that complement available grid power across Nigeria and help bridge its significant energy gap.

To learn more, please visit All On | (all-on.com)

All On Contact: Investment Manager, Oluseye Bassir via email oluseye.bassir@all-on.com

About Arnergy

Arnergy is a leading indigenous player in the renewable energy sector, specializing in the comprehensive design, assembling, distribution, and maintenance of cutting-edge solar energy solutions tailored specifically for commercial applications. Its mission is to democratize access to affordable, uninterrupted, and clean power for small businesses across Nigeria. Arnergy was incorporated in 2013 while operations started in 2014. Since the commencement of operations in 2014, Arnergy has achieved noteworthy milestones, deploying 6MW of solar power generation capacity and 14MWh of energy storage infrastructure across 31 out of 36 states in Nigeria. For more info, visit arnergy.com/about/