These developments are coming barely three months after All-On announced its first set of transactions in Nigeria’s off-grid market, and two months after the firm and
“The investments made in these energy solution providers further demonstrate our firm belief that off-grid energy is indispensable in the improvement of Nigeria’s energy narrative. It therefore deserves adequate attention and financial backing from both the public and private sectors.” Dr. Boer said.
Commenting, Lumos’s CEO Davidi Vortman, said: “This debt facility from All On both cements the strategic relationship between our two companies and goes a long way towards significantly accelerating the speed of penetration of Lumos Solar Home Systems in the Niger Delta region. All On has established itself as a leader in off grid energy in Nigeria and we are therefore excited to work with All On to enhance energy access for Nigerians in the Niger Delta and across the country.”
ColdHubs CEO, Nnaemeka Ikegwuonu, described the investment as a demonstration of All On’s commitment beyond simply addressing the access to energy gap, to harnessing innovative renewable energy solutions for the preservation of perishable foods. “This support by All On will enable Cold Hubs to further refine its business model to help improve the livelihoods of people and enhance food security in the Niger Delta,” he said.
U.S. Africa Development Foundation (USADF) announced a $3 million partnership to expand access to energy for underserved and unserved markets in Nigeria.