Luxembourg, 23 May 2022 – The GGF Technical Assistance Facility, in partnership with Rockstart, are excited to announce the 7 green ventures selected to join the Clim@ Scaler 2022 program. The finalists were selected from over 150 applications from 28 different countries based upon their potential to scale sustainable business models, deliver impact, and support a more sustainable future. The selected ventures bring innovative and localized solutions to an array of pressing environmental challenges, including, transitioning to smart and renewable energy systems, mainstreaming circular economy practices and business models, and scaling highly efficient agricultural technologies.
The GGF and Rockstart selected the ventures based on their ability to create direct impact, solve pressing climate challenges, and demonstrate clear business acuity.
Below, in alphabetical order, are the selected ventures and what they are doing to contribute to climate action:
Effa – Ukraine
Effa is fighting global plastic pollution by creating 100% recyclable and renewable hygienic products, such as toothbrushes, and razors.
FazlaGida – Turkey
Prioritizing solutions in line with the Food Recovery Hierarchy, FazlaGida offers a digital surplus management system platform for donating, recycling and reselling surplus food and data analytics to reduce waste at the source.
Fusebox Energy – Estonia
Fusebox Energy is a platform that enables demand response to monetize the flexibility in electricity consumption by end-users – tackling the inefficiency of the grid and pushing fossil fuel generators away from the electricity system.
PlugnGrow – Egypt
With growing food demand, and water scarcity in the MENA region, PlugnGrow has developed an easy-to-use plug and play hydroponics system to make the transition to soilless agriculture simple and economical.
Solarify– a Loggma Solution – Turkey
Solarify’s mission is to contribute to the next generation's sustainable energy production and consumption by offering an all in one, digital solution that uses a mix of hardware and artificial intelligence algorithms to detect energy losses with high precision allowing the generation optimization of solar power plants.
Tagaddod provides a tech-enabled collection of waste oil and fats. The company collects used cooking oil disposed of by restaurants and households and creates a reliable income source for waste collectors.
Wattnow – Tunisia
Wattnow helps companies to reduce their costs and carbon footprint through its smart energy management solution, specifically adapted for the realities of emerging markets.
The four-month program kicks off this month and will provide ventures with access to industry expertise, investor networks, potential corporate partnerships, and grant funding to scale their solutions. The program will close with an investor day in the fall, where each venture will have the chance to pitch to investors and corporate partners.
GGF Technical Assistance Facility Chairperson Klaus-Peter Pischke said: “This cohort of ventures are champions in their respective industries and exemplify green innovation. Together with Rockstart, we believe we can accelerate high-impact solutions that drive a green transformation for a more sustainable future.”
ABOUT THE GGF
The Green for Growth Fund invests in measures designed to cut energy use and CO2 emissions, and improve resource efficiency in 19 markets across Southeast Europe, the Caucasus, Ukraine, Moldova, the Middle East and North Africa. The fund provides such financing directly to renewable energy projects, corporates and municipalities or indirectly via selected financial institutions. The GGF’s Technical Assistance Facility maximizes the fund’s investment impact through support for capacity building at local financial institutions and partners.
The GGF was initiated as a public-private partnership in December 2009 by Germany’s KfW Development Bank and the European Investment Bank, with financial support from the European Commission, the German Federal Ministry for Economic Cooperation and Development, the European Bank for Reconstruction and Development, and the Austrian Development Bank (OeEB). The fund’s growing investor base comprises donor agencies, international financial institutions, and institutional private investors, including the International Finance Corporation, the Dutch development bank FMO, and the German ethical bank GLS. The GGF is advised by Finance in Motion GmbH. MACS Energy & Water GmbH, Frankfurt am Main acts as the technical advisor.
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