All On, an impact investment company focused on expanding energy access for underserved and off-grid communities, has announced a follow-on investment of $250,000 in ICE Solar Commercial Power Limited, a fast-growing Energy-as-a-Service provider supporting Small and Medium Enterprises (SMEs) across Nigeria.
The funding marks All On’s second investment in ICE Solar, following its initial backing in 2021. According to the company, the new capital will accelerate the deployment of intelligent solar and battery systems that help SMEs transition from costly petrol generators to affordable, cleaner and more reliable power.
Nigeria’s SME sector representing 96.9% of all businesses, 87.9% of employment and 46.3% of GDP, according to the 2021 SMEDAN survey continues to suffer from unreliable electricity supply, which drives up operational costs and limits productivity. ICE Solar’s pay-as-you-go solar model offers a practical alternative, giving small businesses access to remote monitoring, flexible payment plans and efficient energy management tools.
Speaking during the signing ceremony, Caroline Eboumbou, Chief Executive of All On, said the investment aligns with the organisation’s mission to support indigenous companies providing scalable clean energy solutions.
“This follow-on investment in ICE Solar reflects our commitment to supporting companies delivering impactful energy solutions to underserved markets. SMEs are the backbone of Nigeria’s economy, and reliable energy is critical to their growth and resilience,” she said.
Founder and Chief Executive of ICE Solar, Dr. Emmanuel Ekwueme, described the investment as a major step toward deepening access to clean energy nationwide.
“With this new capital, we’re scaling our intelligent solar and battery solutions to help over 2,000 SMEs cut energy costs, displace thousands of petrol generators, and transition toward a low-carbon future,” he said.
The partnership strengthens All On’s portfolio of clean energy ventures and reinforces efforts to unlock economic growth through sustainable power. By expanding access to reliable electricity, All On and ICE Solar aim to boost productivity, support job creation and accelerate Nigeria’s shift toward a cleaner energy ecosystem.
