- All On has invested $1m in Salpha Energy.
- The funds will enable the SHS provider to expand its services in Nigeria.
- Last year, Salpha Energy was one of the USADF/All On Off-Grid Energy Challenge winners.
Shell-backed impact investor All On has announced a $1 million investment in Salpha Energy. The fund will help the SHS distributor scale the deployment of SHS units in the country. The investment will enable the company to increase its inventory and product range, expand sales channels and customer service infrastructure. The company will also be able to test more flexible pricing models to ensure sustainability. Salpha Energy distributes SHS units to “bottom-of-the-pyramid” customers in remote rural and peri-urban areas in the country and the Niger Delta.
Goziem Okubor, All on’s Senior Investment Associate, notes that the investment would enable Salpha Energy to improve its inventory and meet the needs of its expanding network of distributors giving the company a competitive advantage in the growing SHS market segment. “We are thrilled about this investment which is the continuation of a journey and would provide Salpha inventory needed to supply its expanding network of distributors and a platform to cement its competitive advantage and respond to growing market demand for Solar Home Systems,” he added.
Sandra Chukwudozie, CEO and founder of Salpha Energy, stated that the support from All on is indicative of the investor’s growing confidence in her company’s vision. “This additional support will allow us to deliver on our strategy to provide products for customers across the range of their developing energy needs,” she added. Last year, Salpha Energy also emerged as one of the ‘USADF/All On Off-Grid Energy Challenge’ winners, receiving a $50,000 investment.