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New Investments
New GX Capital and RMB Ventures Launch 120 Million Fund to Support Clean Tech Projects in South Africa
New GX Capital and RMB Ventures have introduced the Airnergize Capital Fund I with an initial commitment of approximately $120 million.
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.
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 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 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:
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:
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.
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.
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“We are delighted to partner with ISA to support the development of solar energy in Africa,” said Alain Ebobissé, CEO of Africa50. “This partnership will help to accelerate the deployment of solar energy in Africa and improve the lives of millions of Africans,” he added.
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