All On, an impact investment company focused on expanding energy access in underserved and off-grid Nigerian communities, has announced a follow-on investment of $250,000 in ICE Solar Commercial Power Limited, a rapidly growing provider of Energy-as-a-Service solutions for Small and Medium Enterprises (SMEs).

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

Nigeria’s SME sector, according to a 2021 SMEDAN survey, accounts for 96.9% of all businesses, 87.9% of employment, and 46.3% of GDP, yet unreliable power continues to hinder productivity and increase operational costs. ICE Solar’s pay-as-you-go solar model provides affordable, technology-driven energy management, remote monitoring, and flexible payment options, making clean energy more accessible for entrepreneurs.

At the signing ceremony, Caroline Eboumbou, CEO of All On, said, “This follow-on investment reflects our commitment to supporting indigenous 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 model advances job creation, economic inclusion, and the broader energy transition.”

Dr. Emmanuel Ekwueme, Founder and CEO of ICE Solar, added, “We’re excited to deepen our partnership with All On. With this new capital, we aim to help over 2,000 SMEs reduce energy costs, replace thousands of petrol generators, and move toward a low-carbon future. This marks a key milestone for ICE Solar and Nigeria’s renewable energy sector.”

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 aims to unlock economic potential, create jobs, and accelerate Nigeria’s transition to a low-carbon economy.