The fund aims to support innovation in renewable energy, gas, and water infrastructure in South Africa.

The fund managers are working towards raising a total of R4 billion ($200 million) by attracting more investors in the coming months.

 

Airnergize Capital will be overseen by New GX and will focus on key sectors critical to sustainable development.

The investment strategy targets both large-scale and smaller, flexible business models.

 

The fund plans to work alongside experienced management teams that have established track records in their respective fields.

The fund is already active, having completed its first investment through Sustainable Power Solutions Africa (SPS), a renewable energy firm backed by New GX. SPS designs, develops, and operates solar PV and battery storage systems for commercial and industrial clients.

 

The company also handles engineering, procurement, construction, and ongoing maintenance services in-house.

Paul Mansour, CEO of SPS, welcomed the launch of Airnergize Capital, saying:

 

“This development allows us to expand and strengthen SPS as we grow into a leading renewable energy company across Africa. Our strong BEE credentials and partnership with New GX position us well in the market.”

New GX Capital’s founder and CEO, Khudusela Pitje, emphasized the broader goal of the initiative:

 

“Access to clean energy, water, and gas is essential for economic progress and social development. Airnergize Capital Fund I represents our commitment to building sustainable solutions across Africa.”

Tebatso Modiba, a deal executive at Airnergize Capital, added that RMB Ventures shares New GX’s long-term vision of building a strong clean tech investment platform.

The launch of Airnergize Capital Fund I comes at a time when South Africa is seeking sustainable solutions to ongoing energy and water supply challenges.