Arnergy secures $3m for solar expansion in Nigeria

Arnergy, a Nigerian startup specialising in distributed renewable energy products and solutions, has secured $3 million in additional funding. The bridge financing was provided by All On, an off-grid energy impact investment firm backed by Shell.

This new investment arrives five years after Arnergy, known for offering solar power systems to both homes and businesses, raised a $9 million Series A round in 2019. All On was a participant in this round as well, alongside other investors such as Bill Gates’ Breakthrough Energy Ventures, ElectriFI, and Norfund.

Launched in 2013 by founders Femi Adeyemo and Kunle Odebunmi, Arnergy embarked on its journey to provide sustainable energy solutions, aiming to supply clean and dependable energy to both businesses and homes.

The company designs its energy systems specifically to address the challenges of intermittent power supply and grid unreliability, empowering clients across various sectors—including hospitality, education, finance, agriculture, and healthcare—to adopt and implement cost-effective and reliable distributed energy systems.