All On, an impact investment company focused on expanding energy access to underserved and off-grid communities, has announced a follow-on investment of US$250,000 in ICE Solar Commercial Power Limited (“ICE Solar”), a fast-growing provider of Energy-as-a-Service solutions for small and medium enterprises (SMEs) in Nigeria.

This second round of funding builds on All On’s initial investment in 2021, highlighting confidence in ICE Solar’s scalable, impact-driven model. The new capital will support the deployment of intelligent solar and battery systems, helping thousands of SMEs transition from expensive and polluting petrol generators to clean, reliable energy.

According to a 2021 SMEDAN MSME survey, Nigeria’s SME sector accounts for 96.9% of all businesses, 87.9% of employment, and 46.3% of GDP, yet many face unreliable power supply that hampers productivity. ICE Solar’s Energy-as-a-Service model provides pay-as-you-go solar solutions with remote monitoring and flexible payment options, making clean energy affordable and accessible for small businesses.

At the signing ceremony, Caroline Eboumbou, CEO of All On, said:

“This follow-on investment reflects our commitment to supporting Nigerian companies delivering scalable clean energy solutions. SMEs are the backbone of Nigeria’s economy, and access to reliable energy is critical to their growth. ICE Solar’s innovative model promotes job creation, economic inclusion, and a cleaner energy future.”

Emmanuel Ekwueme, PhD, Founder and CEO of ICE Solar, added:

“We’re thrilled to continue our partnership with All On. This investment allows us to scale our intelligent solar and battery solutions, helping over 2,000 SMEs cut energy costs, reduce reliance on petrol generators, and transition to a low-carbon future. This marks an important milestone for ICE Solar and the broader renewable energy ecosystem in Nigeria.”

The investment strengthens All On’s portfolio of high-impact energy ventures and underscores its strategy to catalyze inclusive growth through sustainable energy. By empowering SMEs with reliable power, the partnership is helping unlock economic potential, create jobs, and accelerate Nigeria’s low-carbon transition.

About All On

All On Partnerships for Energy Access (All On) is an independent impact investing company seeded by Shell to grow Nigeria’s off-grid energy market. It provides debt and equity funding as well as non-financial support to energy companies that help close the access-to-energy gap through renewable energy solutions. Learn more at https://www.all-on.com.

About ICE Solar

ICE Solar is a climate technology company that leverages connected finance and distributed energy resources to serve underserved communities, with a focus on SMEs. Its Energy-as-a-Service model empowers businesses to access clean, reliable energy, fostering economic inclusion and sustainability.