Kelp Blue Receives Environmental Clearance!
Namibia, March 11th, 2020 – Kelp Blue is pleased to announce they have received their Environmental Clearance Certificate from Namibia’s Ministry of the Environment and Tourism – a significant milestone in the development of the company’s pilot operation in Lüderitz, Namibia.
This is a vital step in Kelp Blue’s continuing journey towards creating a sustainable new ocean industry. By working closely with the Namibian authorities, Kelp Blue can help the country fulfil its commitment made to the International High-Level Panel for a Sustainable Ocean Economy. Kelp Blue’s operations will boost Namibia’s ‘blue economy’ and help mitigate the local impact of climate change through building social, environmental and economic resilience.
Specifically, Kelp Blue will be contributing to the infrastructure and growth of Lüderitz, thereby enhancing the quality of life of local residents, in addition to creating employment and upskilling opportunities through the cultivation of giant kelp.
Kelp is a fast-growing seaweed which is highly effective at sequestering CO2. It generates positive ecological benefits to surrounding ecosystems in the form of water filtration, nitrogen removal and habitat provision, which in turn boosts marine biodiversity and improves fish stocks. Kelp also plays a role in counteracting the acidification and de-oxygenation of the ocean.
Kelp Blue’s Namibian operations will contribute to the attainment of the UNDP’s Sustainable Development Goal Number 14: Life below water through the creation of marine ecosystems.
Kelp Blue is financed through a partnership between Climate Investor Two (CI2), managed by Climate Fund Managers, Kelp Blue and the Namibia Infrastructure Development and Investment Fund (NIDIF), managed by Eos Capital, for the development and commercialisation of the world’s first large-scale kelp farm.
“This is an important step, and we are thrilled to have received the recognition that this certificate of environmental clearance represents. It paves the way for Namibia’s emergence as a leading blue economy innovator, and delivers ecological benefits,” commented Viviane Kinyaga, Managing Director of Kelp Blue Namibia.
Nicole Maske, Managing Partner of Eos Capital, added that “We are excited by this project’s contribution to the growth of the Namibian economy, and we are grateful to the Namibian Government for their support in bringing it to fruition.”
“As an impact investor focused on mobilising private and public sector capital to respond to the global climate crisis, Climate Fund Managers actively seeks enterprises like Kelp Blue with sustainable climate change mitigation credentials. It is gratifying to see that our faith in this wave-making project is shared by the Government of Namibia, as evidenced by the awarding of this Environmental Clearance Certificate,” commented Andrew Johnstone, CEO of Climate Fund Managers.
About Climate Fund Managers
Climate Fund Managers (CFM) is a new-generation fund management firm dedicated to securing a sustainable future through investing in positive climate outcomes across global emerging markets. CFM is a cooperative incorporated under the laws of The Netherlands, established as a joint venture between FMO, the Dutch entrepreneurial development bank, and Sanlam InfraWorks (part of South Africa’s Sanlam Group).
CFM’s second financing facility, Climate Investor Two (CI2) has €75 million under management to date and is mandated to invest in water, sanitation and ocean infrastructure projects in emerging economies. CI2 will follow the proven “whole-life” financing approach of Climate Investor One (CI1), which has been acclaimed for its innovative approach to risk mitigation and private sector capital mobilisation. As with CI1, CI2 will deliver a funding solution based on the tactical structuring of public sector capital in a blending architecture, making use of a Development Fund, a Construction Equity Fund and a Refinancing Fund.
Visit climatefundmanagers.com to learn more.
About Eos Capital
Eos Capital is an established Namibian private equity fund manager, founded in 2015 and 100% Namibian-owned. Eos Capital’s mission is to contribute to the growth of the Namibian economy, building on its strong local network and ability to add value to investments. Eos and its Funds are registered and regulated under Namibian law.
Eos Capital successfully raised its first fund, the Allegrow Fund, in 2015 with a committed capital of N$460m ($28m USD) and 7 portfolio investments to date. Investment sectors include consumer goods, general industrials and services, ranging from pharmaceutical manufacturing to education.
The Namibia Infrastructure Development and Investment Fund (NIDIF) is the second fund launched by Eos Capital, and had its first close of N$535m ($31.3m USD) in April 2020, with a target fund size of N$1bn ($58.5m USD). This fund will build a diversified portfolio of inflation-resilient, stable and high-quality infrastructure assets to provide long-term income to investors. Investment sectors include energy, water, biomass, education and skills development, healthcare, transport, logistics, and ICT. The GIPF is the anchor investor in NIDIF, with a commitment of N$500m to the fund.
Eos Capital is in the process of fundraising for its third fund, the Euphrates Agri fund, with a target size of N$500m ($30m USD). The fund’s mission is to create a Renaissance in Agriculture in Namibia, driving social outcomes, industrialisation in agriculture and attractive returns to investors.
Visit www.eoscapital.com.na to learn more.