Namibia’s Kelp Farm Project To Get US$60m Investment From CFM And Eos Capital

See the source image

NAMIBIA – Climate Investor Two (CI2), managed by Climate Fund Managers (CFM), Kelp Blue and the Namibia Infrastructure Development and Investment Fund (NIDIF), managed by Eos Capital, have partnered for a commercial development of the world’s first large- scale kelp farm.

An investment of approximately $60million will be required over a 5-year period.

Read Also: Egypt Logistics Startup ILLA Receives $500 000 In Funding

This will be funded by both international and local Namibian sources through CI2 and NIDIF, pending investment approvals.

See the source image

Kelp Blue will seek the necessary Namibian regulatory approvals and will liaise closely with local authorities. Kelp Blue will cultivate giant kelp in nutrient-rich waters 3-10 kilometres off the coast of Namibia, near Lüderitz. The seaweed canopy will be sustainably harvested to produce alternative agri-food, bio-stimulant and textile products.

Kelp is a fast-growing seaweed and can sequester more CO2 than terrestrial forests while boosting marine biodiversity and improving fish stocks and generating additional ecological benefits, including counteracting ocean acidification and de- oxygenation.

Nicole Maske, Managing Partner of Eos Capital, said: “In addition to the positive impact on our ocean and our local fish stocks, this is an exciting opportunity to add to the infrastructure and growth of Lüderitz, thereby enhancing prospects for the local community, and to secure inward investment into Namibia on an environmentally responsible basis.”

Kelp Blue’s business model will add value across the entire kelp value-chain.

The introduction of offshore engineering innovations and novel processing technologies will reduce overheads and increase scalable process efficiencies.

Economic development will be promoted through the creation of value-added products in Namibia for local consumption and export.

Kelp Blue will also create employment opportunities in coastal communities and contribute to economic growth in outlying areas. Kelp Blue is directly aligned with the goals of the CI2. Facility as it offers a viable alternative to existing water and waste management practices and current approaches to ocean system management.

Read Also: Brantu, An Egyptian Fashion E-Commerce Platform Raises Series A Investment

It is also aligned to Eos Capital and NIDIF’s shared mission of contributing to the growth of the Namibian economy.

The business will contribute to the attainment of the United Nations’ Sustainable Development Goal Number 14: Life below water through the creation of marine ecosystems.

See the source image

“We are proud to partner with Kelp Blue in its efforts to accelerate marine biodiversity resilience. As one of the early investments under the CI2 financing facility, this partnership speaks to our commitment to supporting the health and productivity of our blue planet. Kelp Blue has the potential to improve aquatic biodiversity, contribute to effective fisheries management and provide alternative revenue streams for coastal economies,” said Andrew Johnstone, CEO of Climate Fund Managers.

“We are committed to working with Kelp Blue to address the effects of climate change on marine and coastal resources and build up the integrated marine resource management capacity of local decision makers and regulatory authorities,” he added.

Daniel Hooft, Founder of Kelp Blue, said: “We look forward to repaying the confidence that Climate Fund Managers and Eos Capital have placed in us by ensuring the success of this project, creating meaningful employment opportunities in Namibia and making a valuable contribution to the integrity and viability of ocean ecosystems.”

Read Full Article Here

GetFundedAfrica’s mission is to uplift people and economies in Africa through entrepreneurship; helping companies find funding, grow, create jobs and solve society’s greatest challenges

Guest Contribution, GFA Attract & Application Portal For Funding

This image has an empty alt attribute; its file name is image-35.png

Guest Contribution: Disruptive Digital Solutions Is Rewiring The DNA Of Banking

Imagine a bank whose customers can tap on a wearable device to make a payment, regularly receive updates on changes they could make to their investment portfolio through AI-generated insights. Read more

GFA Attract Interview

Victor Boyle-Komolafe, the co-founder of Garbage In, Value Out (GIVO), a system that automates and digitises the collection, processing, and sale of recyclable materials. Watch Here

Apply For Funding

GetFundedAfrica provides equity capital from $1,000 to $50,000.
For larger amounts (Above $50,000)
we organize syndicated funding rounds of up to $500,000.
Apply Here

Follow Us

See the source image
See the source image

One thing I always tell myself and made my philosophy is to admit when I need help and I always find somebody to help. It’s crucial to admit it when you are wrong and never make the same mistake again.

— Nkemdilim Begho, Future Software Resources Limited, Nigeria.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button