Keebles advises Mobile Power on £2m investment
Keebles’ Corporate team has advised Sheffield-based cleantech renewables technology provider Mobile Power on its £2million Series A fundraising investment led by the UK government-funded Renewable Energy Performance Platform (REPP).
Keebles’ Partner and Head of Corporate Matt Ainsworth and Associate Russell Bainbridge advised Mobile Power on the equity fundraising which will support the company’s rapid deployment of its solar-powered battery charging hubs across Sub-Saharan Africa.
Thanks to the investment, Mobile Power, which is headquartered in Newhall Business Park in Sheffield, plans to enter the Nigerian market next year whilst supporting existing low carbon partnership projects in Uganda, Zambia and Gambia. The company currently operates in Sierra Leone and Liberia, two of the poorest countries in the world.
Matt Ainsworth, Partner and Head of Corporate at Keebles said: “We are pleased to play our part in securing this further investment for Mobile Power which allows the company to rapidly increase its operations and reach across Sub-Saharan Africa and roll out its new e-mobility platform.
“Being involved in a deal that increases access for some of the world’s poorest regions to affordable low carbon energy is hugely rewarding. We wish Mobile Power all the best in its expansion and access to new markets.”
Mobile Power was set up in 2013 to provide a renewables-powered battery rental service to off-grid areas of Sub-Saharan Africa underserved by existing rural electrification models.
Chris Longbottom, CEO of Mobile Power, said: “The completion of this Series A fundraise represents a vote of confidence for Mobile Power’s unique approach to energy access, particularly in those markets where traditional approaches are less viable.
“We look forward to scaling up and reaching many more off-grid customers.”