Africa’s first dedicated clean energy fund has secured an initial commitment of R2.4-billion ($120 million) and is targeting a final close of R4-billion ($200 million) in the months ahead. The fund, called Airnergize Capital Fund I, is focused on accelerating clean technology solutions in renewable energy, gas, and water infrastructure across South Africa.
- Renewable Energy: Focus on solar PV, wind power, and geothermal energy to drive Africa’s transition to low-carbon economy
- Gas and Water Infrastructure: Investments in liquefied natural gas, water desalination, and water treatment to support industrial growth and human development
- Thematic Investments: Prioritizing innovative solutions that support a low-carbon economy and promote inclusive growth, with a focus on scalable and high-impact technologies
Airnergize Capital will be managed by New GX Capital, a company co-founded by Kabelo Ramathlodi and Themba Maseko, who are also co-founders of Dark Fibre Africa (DFA) and RMB Ventures (RMBV). The fund’s investment strategy is aligned with global sustainability goals, prioritizing innovative solutions that support a low-carbon economy and promote inclusive growth.
| Key Features | Description |
|---|---|
| Black-owned and controlled | A fund that brings active, strategic fund management with a commitment to measurable environmental and social outcomes |
| Thematic Investments | Prioritizing innovative solutions that support a low-carbon economy and promote inclusive growth, with a focus on scalable and high-impact technologies |
| Investment Strategy | Aligns with global sustainability goals, focusing on capital-heavy and asset-light business models |
By backing pioneering businesses, Airnergize Capital aims to generate long-term environmental and social impact. The fund will invest in both capital-heavy and asset-light business models, partnering with experienced management teams in established businesses with proven track records.
“We are excited by the latest development at New GX that will unlock additional capital towards the drive to building SPS into a Pan Africa renewable energy giant. SPS BEE credentials with support of New GX are admirable amongst its peers” said Paul Mansour, CEO of SPS.
“Our journey into the utility industry started six years ago, and we are committed to investing in solutions that will drive sustainable change across Africa,” said Khudusela Pitje, founder and CEO of New GX Capital. “Access to clean energy, water, and gas is fundamental to economic growth and social upliftment, and through Airnergize Capital Fund I, we are taking a significant step toward building a more sustainable future.”
SPS, the first investment of Airnergize Capital Fund I, is an integrated C&I renewable energy owner, operator, and developer, offering both behind-the-meter and front-of-the-meter solar PV and battery solutions through its asset holding company, and in-house EPC services and O&M operations. The company’s BEE (Broad-Based Black Economic Empowerment) credentials have been recognized and supported by New GX Capital.
Airnergize Capital’s focus on thematic investments is designed to support Africa’s rapid transition to a low-carbon economy, with a focus on renewable energy, gas, and water infrastructure. The fund is committed to generating long-term environmental and social impact, and its investment strategy is aligned with global sustainability goals.
The black-owned and controlled fund brings active, strategic fund management with a commitment to measurable environmental and social outcomes.
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