Seven finalists were picked among more than 150 applications for Clim@ Scaler 2022, a four-month accelerator program designed for scaleup ventures in the Green for Growth Fund’s target regions.
The GGF Technical Assistance Facility and early stage investor Rockstart selected seven green ventures to join the Clim@ Scaler 2022 program. The finalists were picked from over 150 applications from 28 different countries based on their potential to scale sustainable business models, deliver impact, and support a more sustainable future, the announcement reads.
The selected ventures bring innovative and localized solutions to an array of pressing environmental challenges, including transitioning to smart and renewable energy systems, mainstreaming circular economy practices and business models and scaling highly efficient agricultural technologies.
Clim@ Scaler finalists offer climate, energy efficiency, circular economy solutions
Clim@ Scaler is for ventures that already have customers and revenue and are looking to grow their operations in the areas of energy efficiency, circular economy, resource efficiency and sustainable energy solutions in the Green for Growth Fund’s target regions.
The GGF and Rockstart selected the scaleups based on their ability to create direct impact, solve pressing climate challenges and demonstrate clear business acuity. Here are the finalists.
- Effa from Ukraine is fighting global plastic pollution by creating 100% recyclable and renewable hygienic products such as toothbrushes and razors.
- FazlaGida, based in Turkey, offers a digital surplus management system platform for donating, recycling and reselling surplus food and data analytics to reduce waste at the source.
- Fusebox Energy is an Estonian platform that enables demand response to monetize the flexibility in electricity consumption by end-users – tackling the inefficiency of the grid and pushing fossil fuel generators away from the electricity system.
- PlugnGrow from Egypt addressed growing food demand and water scarcity in the Middle East and North Africa (MENA) region by developing an easy-to-use plug-and-play hydroponics system to make the transition to soilless agriculture simple and economical.
- Solarify, part of Turkish software maker Loggma, has a mission to contribute to the next generation’s sustainable energy production and consumption by offering an all-in-one digital solution that uses a mix of hardware and artificial intelligence algorithms to detect energy losses with high precision allowing the generation optimization of solar power plants.
- Tagaddod, based in Egypt, provides a tech-enabled collection of waste oil and fats. The company collects used cooking oil disposed of by restaurants and households and creates a reliable income source for waste collectors.
- Wattnow from Tunisia helps companies to reduce their costs and carbon footprint through its smart energy management solution, specifically adapted for the realities of emerging markets.
Selected ventures are getting access to expertise, investors
The four-month program kicks off this month. It will provide ventures with access to industry expertise, investor networks, potential corporate partnerships and grant funding to scale their solutions. The program will close with an investor day in the fall, where each venture will have the chance to pitch to investors and corporate partners.
“This cohort of ventures are champions in their respective industries and exemplify green innovation. Together with Rockstart, we believe we can accelerate high-impact solutions that drive a green transformation for a more sustainable future,” GGF Technical Assistance Facility’s Chairperson Klaus-Peter Pischke said.
The Green for Growth Fund invests in measures designed to cut energy use and carbon dioxide emissions and improve resource efficiency in 19 markets across Southeast Europe, the Caucasus, Ukraine, Moldova, the Middle East and North Africa. The fund provides financing directly to renewable energy projects, corporates and municipalities or indirectly via selected financial institutions.