ElectriFI boosts farmers’ contribution to circular economy in Kenya and India
ElectriFI, the Electrification Financing Initiative funded by the European Union, invests USD 2m in Sistema.bio. The company manufactures, distributes, installs and finances biomass digesters for small and medium scale farmers. The prefabricated high-quality modular biodigester produces not only biogas that can be used for cooking, heating, or electricity generation but also a safe and effective organic fertilizer as a by-product.
“ElectriFI has invested USD 2m in equity in order to enable Sistema.bio to continue their rapid scale up in Latin America, East Africa, and South Asia. For a decade, the company has continuously demonstrated the high quality of both its product and management, as well as its leadership in innovation. ElectriFI was impressed by the high environmental and social impact of Sistema.bio’s biodigesters and the services offered,” explains Dominiek Deconinck, ElectriFI Fund Manager.
As described by Liesbet Mijlemans, ElectriFI Investment Officer: “By replacing solid fuel by renewable energy and enabling waste management, this biofertilizer creates value from waste and positively impacts health of the farmers’ communities. With our investment, we are supporting the company’s reach to 200.000 farmers by 2021, resulting in 265,000 tCO2 eq/year of GHG emissions avoided. By 2021, the company is expected to have 250 employees mainly in Mexico, Kenya and India.”
“We are excited to partner with ElectriFI, as they share our commitment to bring clean and renewable energy to the people that need it most. As a company, it is important that our investors share our mission and values. ElectriFi’s support will allow us to strengthen our company and reach more people with clean energy”, said Alexander Eaton, CEO and Co-founder of Sistema.bio.
DILA CAPITAL, Engie RDE Fund, EcoEnterprise Fund, Endeavor Catalyst Fund, CoCapital, Shell Foundation, Triodos, Alpha Mundi, EcoEnterprise Fund, and Lendahand are some the other investors and creditors participating in the round.