Mirova has invested $19m (€16.2m) in Cold Solutions Kiambu, a provider of temperature-controlled storage facilities and cold chain logistics in Kenya.
Cold Solutions Kiambu has cold storage warehouses in Tatu City, Kiambu, and Colfax Industrial Park in Mombasa with an estimated capacity of 20,000 pallets.
Mirova said its investment, made via its blended finance debt fund, the Mirova Gigaton Fund, will enable Cold Solutions to continue ramping up operations of its sustainable infrastructure initiatives, ranging from ambient and frozen storage facilities to temperature-controlled transportation across East Africa for both the food and pharmaceutical sectors.
Cold Solutions’ infrastructure operates with an energy-saving rooftop solar system that covers approximately 30% of the facilities’ energy requirements and uses ammonia refrigerants that pose no threat to global warming, the company said.
Mirova added that its investment in Cold Solutions will contribute actively to the United Nations’ Sustainable Development Goals including SDG 2 (Zero Hunger), SDG 12 (Responsible Consumption and Production) and SDG 13 (Climate Action).
“In this way, Cold Solutions not only fulfills its operational capacity but also reaffirms Mirova’s dedication to impactful investments in emerging markets,” the Natixis Investment Managers affiliate said.
John Kimotho, investment director, Mirova Kenya, said: “This financing exemplifies how the Mirova Gigaton Fund aims to accelerate transformative climate solutions in emerging markets. By backing Cold Solutions Kiambu, we’re scaling clean-powered, climate-aligned, and operationally resilient cold chain infrastructure, critical for food security and health systems across East Africa.”
To read the latest IPE Real Assets magazine click here.
