PRESS RELEASE : South African clean energy innovators to pitch to City of London investors [March 2023]
The press release issued by the Foreign Office on 14 March 2023.
Four of South Africa’s most promising clean energy start-ups have been selected to pitch their products to investors from the City of London.
BSF Breeding, Everlectric, Hohm Energy and Wetility will showcase their innovative low-carbon energy solutions in London alongside other projects from Colombia, Mexico, Pakistan and Turkey.
The 4 projects from South Africa are contributing to building growth and reducing carbon emissions in a range of sectors including:
- farming
- transport
- sustainable housing
while helping South African consumers and businesses to find an alternative, reliable low-carbon energy supply in a cost-effective way.
Each of these 4 firms has received support through the UK government’s Climate Finance Accelerator programme, which works to develop a sustainable pipeline of investment-ready, low-carbon projects. The programme is part of the UK’s efforts to support climate action on a global scale, facilitating access to finance and helping governments achieve climate targets under the Paris Agreement.
The high-profile investor event, taking place from 13 to 16 March, will involve leading financiers and investors, project developers, climate finance experts, the private sector and UK government discussing the opportunities and challenges faced in securing and mobilising capital for low carbon initiatives at scale in emerging markets.
Each of the businesses attending will receive 2 days of technical advice and support from City of London investors before making a pitch on the last day. The event offers an opportunity to present their projects to global markets and access funding from investors to further grow their businesses.
British High Commissioner to South Africa Antony Phillipson said:
“BSF Breeding, Everlectric, Hohm Energy and Wetility showcase the best of South African innovation and expertise and I am delighted that they have been selected to attend such a high-profile event hosted by the Climate Finance Accelerator and the City of London. I wish them all the very best of luck as they present to potential investors, and I hope that the connections made at this event lead to direct investment into the projects and a tangible contribution to building green growth and climate security in South Africa.”
Over the last 2 years the CFA programme has supported nearly 100 innovative low-carbon projects around the world that have a total value of over US$ 2 billion, helping them to build proposals for investment.
In South Africa the programme has supported a total of 28 projects. A new round will be initiated in late spring, with the ambition that the programme is permanently embedded into the South African climate finance landscape. The CFA is implemented in South Africa by The National Business Initiative and GreenCape.
Business profiles
BSF Breeding provides black soldier fly larvae that can be grown by anybody and used to produce process organic waste (including human waste) and turn it into products such as protein additives in animal feed, offering an inexpensive, clean and sustainable food source for livestock. Black soldier fly can also be used to produce insect oil, biodiesel, and soil enhancer. Established in 2015, the BSF Breeding’s larvae are now shipped around the world from their HQ in Cape Town.
“We believe BSF protein is the most environmentally-friendly produced animal protein in the world, making use of organic by-products (waste) to feed the larvae with minimal CO2 emissions in our operations.’’ – Gerhard Gous, Commercial Director
Based in Pretoria, Everlectric offers electric vehicle packages for businesses made up of leading international electric vehicles, charging infrastructure and innovative finance solutions. Their all-inclusive service incorporates fuel and maintenance costs and makes it easier for businesses to transition from a petrol or diesel fleet of vehicles to an electric vehicle fleet.
“We are honoured to be selected by the UK Government’s prestigious CFA programme. We are excited to meet like-minded growth partners who can act as catalysts in our journey to lead the South African logistics industry’s transition to environmentally-responsible, operationally-efficient and commercially-attractive electric vehicles”- Ndia Magadagela, Co-founder and CEO
Johannesburg-based Hohm Energy is a solar rooftop marketplace that manages and streamlines solar installers, product suppliers and financiers to make going solar simple for homeowners and businesses.
“Hohm Energy is thrilled to be a part of the CFA programme and the support of the UK Government. Hohm Energy’s mission is to accelerate the uptake of solar rooftop PV through our innovative fin-tech lending solution. Our climate tech platform is paving the way towards a greener future, and I am excited to see the positive impact it will have on our country, especially during this period of our energy crisis.’’ – Tim Ohlsen, CEO
Based in Johannesburg, Wetility is a smart energy provider that offers a battery-based system that stores solar energy, paired with a digital platform to allow customers to monitor their energy use. Wetility offers customers affordable monthly payments and a flexible financing model, making the move to solar more affordable.
“We at Wetility are excited to have been selected to attend the CFA event in London and continue our longstanding partnership with the CFA. By harnessing the power of the sun, Wetility is committed to providing energy independence to everyone, affordably, while reducing household CO2 emissions. We look forward to meeting the other teams and investors in London and building fruitful partnerships.’’ – Vincent Maposa, CEO
