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Arnergy: Story, Founders, Investors & Funding Rounds

Arnergy: Story, Founders, Investors & Funding Rounds

Femi Adeyemo, who is Chairman and CEO of Arnergy, started the company because he saw a need in the market for energy sources other than fossil fuels and other traditional ones.

Like any other company, Arnergy started by doing the basics, like researching the size of the problems, the market, and the supply chain, among other things.

Even though the company was formed in 2013, it didn’t get going until January 2014. 

Arnergy has had to overcome several problems, such as skepticism about solar power, consumers’ lack of interest in the technology, and problems with growing the company’s client base and income.

Even though the company faced many problems, it was able to succeed thanks to its innovative culture, business strategy, and products.

Arnergy is a company to talk about because it uses clean technology. It lights up businesses, homes, and rural areas with clean power made from the sun.

It is a sustainable energy service that gives homes and businesses power that is safe and reliable.

Businesses and homeowners can use the company’s services to get access to and set up reliable, scalable, and cost-effective distributed energy systems.

Arnergy is a distributed utility company whose goal is to make it easier for developing countries to get energy when they need it.

Their energy solutions can help both businesses and homeowners because they are designed, sold, and set up at reasonable prices and with a high level of reliability.

Microbusinesses, as well as those in healthcare, education, hospitality, agriculture, financial services, and other fields, are one of their main targets because they help their local economies a lot.

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Arnergy’s goal is to help its customers use energy more efficiently by giving them tools and infrastructure that make the workplace more productive.

Additionally, their vision is to help developing countries meet the growing need for reliable energy sources.

How it Works

Arnergy improves business and economic results by focusing on reliable energy that can be used to make money. Its products, which range from solar power systems for businesses and homes to communication networks in remote areas, are meant to make up for Nigeria’s unreliable power supply.

With Arnergy’s rural telephone system, which was made during the pandemic and has had close to 100 installations, Mobile Network Operators (MNOs) and TowerCos can now connect clients who were previously unconnected or disconnected.

The SPS can handle loads from 5kW to 10kW on its own and is made up of separate modules. Using Arnergy’s 5kW modular devices, more than 3MWp and 10MWh of storage have been set up.

The RuralBase telecom solution is part of Energy’s larger plan to fight climate change by making cell phone infrastructure less reliant on dirty diesel generators.

Over the next few years, Arnergy wants to install 5,000 completely off-grid systems, each with a maximum output of 400 watts. This would mean that around 18.7 tonnes of CO2 would be less likely to be released each day.

Founders

Femi Adeyemo

Femi Adeyemo started Arnergy and is also the company’s CEO. As a distributed utility, the company makes sure that all homes, businesses, and factories in Nigeria have reliable access to electricity.

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He was the main point of contact for rollout and Managed Service Operations projects for big telecom OEMs like Ericsson, Huawei, and Nokia in Africa, South America, and Asia, from the early planning stages to full-scale implementation.

Femi Adeyemo went to school at the Royal Institute of Technology, which is called KTH.

Kunle Odebunmi

Arnergy’s Chief Financial Officer and one of its co-founders is Kunle Odebunmi.

Odebunmi worked for Huawei Technologies as a telecoms engineer before he left Nigeria in 2006.

 There, he oversaw the installation and maintenance of Base Station Controllers (BSC) and Base Station Transceivers (BTS) for MTN all over the country.

He has also won the William James Foundation Business Plan competition in Washington, DC, beating out more than 800 applicants from all over the world.

Additionally, Kunle is an entrepreneur with a lot of passion and a strong desire to find market-based solutions to the most important problems in the rising market.

Investors & Funding Rounds

Breakthrough Energy Ventures, Norfund, EDFI ElectriFI, and All-On

Arnergy has gotten US$9 million in Series A funding to help it grow into new markets and industries.

The funding round, which was led by Breakthrough Energy Ventures and included contributions from the Norwegian Investment Fund for Developing Countries (Norfund), EDFI ElectriFI, and All-On, will allow Arnergy to grow its business.

 One of its goals is to help people get loans and to expand distribution channels.

Main Competitors

Ecoligo: This is a solar utility that provides cheap solar energy, and could help companies in developing countries cut costs.

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Natel Energy: Its sustainable hydropower solutions are a reliable source of clean electricity.

Tokamak Energy: This is a private company that works on fusion energy and tries to move it forward faster.

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