All On and Solstroem sign new energy investment deal

All On Partnerships for Energy Access (All On), an impact investing company that works with partners to increase access to commercial energy products and services for unserved and underserved off-grid markets in Nigeria, recently signed a deal with Solstroem to finance a technology platform for carbon credits. Solstroem is a Danish technology business that has created a quantitative approach to carbon credit creation. The funding will facilitate further development and scalability of the company's software platform, enabling solar home system distributors and other solar off-grid operators across Sub-Saharan Africa to issue and sell carbon credits on the international Voluntary Carbon Market. The carbon credits provided on the Solstroem platform are entirely traceable, computed based on an established UN Clean Development Mechanism (CDM) methodology, and third-party verified by DNV. The issued credits are made available on the platform to corporate buyers wishing to compensate for their CO2 emissions.

This investment represents an opportunity for All On to increase access to climate finance for their existing portfolio firms and other established and developing players in the solar off-grid industry in Nigeria and beyond. This funding will also support Solstroem's mission to expand the revenue streams of solar developers worldwide by tying their projects to voluntary carbon markets in a transparent, verifiable, and sustainable manner, enabling the purchase of carbon credits linked with their projects.

The development of the carbon credit platform provides an opportunity to cater for the growing demand for high-quality carbon credits and provide access to additional climate financing, particularly as the voluntary carbon market is anticipated to grow by a factor of 15 over the next 10 years.