KCV CLIENT AWARDED 1.2 BILLION SHILLINGS TO SCALE BIOGAS ADOPTION
One of the clients of Kenya Climate Ventures (KCV), a subsidiary of Kenya Climate Innovation Center (KCIC), has secured a deal that will see it awarded with 1.2 billion shillings. The money is meant to help the client increase the intake of biogas technology in Kenya. The company, Sistema.Bio, has become one of the leading companies in Africa after hatching a plan to empower over 100,000 smallholder farmers to adopt the biogas technology over the next three years.
Biogas is a kind of biofuel which is naturally emitted after the decomposition of organic waste. It can be produced from the disintegration of waste products from food waste, manure and plant material.
Part of Sustainable Development Goals
The adoption of this technology in Kenya shall not only assist farmers access affordable green technology, but shall also be critical in the realization of the Sustainable Development Goals (SDGs), particularly those dealing with climate change.
SDGs, also called Global Goals, are a collection of 17 goals set by the United Nations General Assembly as a call-to-action to end poverty, protect the planet and ensure that all people enjoy peace and prosperity. These goals build on the successes of the Millennium Development Goals, while including new areas such as climate change, innovation and sustainable consumption among other priorities.
More Support to Kenyans
The CEO of Sistema.Bio Alex Eaton has stated that their efforts are in coherence with Government’s set Big Four Agenda, which highlights agriculture and manufacturing as key pillars to economic growth. Speaking after receiving the award, he further articulated that the company is also creating hundreds of job opportunities to Kenyans through the adoption of the technology.
“We are assembling the technology locally and creating numerous opportunities for Kenyans,” he said, “we are also educating farmers on how they can use organic manure from their farms thus significantly reducing the cost.”
Recently, Sistema.Bio was among the four firms which were listed for the 2019 Ashden Awards, for playing a key role in shaping Africa’s quest for sustainable energy. It is currently working closely with other international investments companies who include ENGIE RDE, EU Electrifi Fund, AlphaMundi, Triodos - Hivos Fund, Dila Capital and EcoEnterprises.
About Kenya Climate Ventures
Sistema.Bio is a client under the mentorship of KCV. KCV is an independent subsidiary of KCIC. The firm is an investment management company based in Kenya seeking to accelerate the development of the clean-tech industry as a whole by providing the much needed tailored and targeted financial and managerial assistance. It seeks to invest in businesses that have climate-relevant products or services, sustainable competitive advantage, good management teams and ethical business practices.