The Climate Finance Accelerator (CFA) South Africa, supported by the UK government, has announced the selection of fifteen climate projects for its third phase. Chosen from a pool of 173 applications, these projects span various sectors including energy, transportation, agriculture, forestry, circular economy, and water.
For the first time, the initiative has introduced two separate cohorts to provide capacity building for promising early-stage projects. The selected businesses will receive tailored support from financial, technical, and social inclusion experts to enhance their chances of securing finance from both South African and international investors.
The ten core cohort projects will undergo intensive capacity building before pitching to investors at an event scheduled for July.
Early-stage projects will also have the opportunity to participate in core capacity building training and share experiences with mentors from the core cohort.
Antony Phillipson, British High Commissioner, emphasized the innovative solutions emerging from South Africa to tackle climate change. He highlighted the potential of these projects to drive green growth, create jobs, and help the country meet its climate commitments.
Michael Mulachy, CEO of GreenCape, noted the diversity of solutions presented by this year’s finalists, covering areas such as food systems, rare-earth metal beneficiation, energy storage, e-mobility, waste management, and sanitation. He underscored the role of these projects in scaling up rapidly and contributing to South Africa’s green economy.
Among the core cohort projects are companies like renewable battery manufacturer Creslow Energy Solutions, hydroponic vegetable business Cultura Fresh, electronic waste collector EWaste Africa, and home toilet company Loowatt.
Additionally, the early-stage cohort includes organic biostimulant company Aquagel, EV charging station developer Breev, and decentralised recycling company React, among others.
Shameela Soobramoney, CEO of the National Business Initiative, emphasized the importance of supporting innovative, low-carbon companies to pave the way for a greener future. She hailed these companies as pioneers offering solutions to pressing challenges facing both South Africa and the globe.
The CFA South Africa program continues to serve as a catalyst for green innovation, investment, and sustainable development, showcasing the potential for collaboration between nations to combat climate change and promote environmental stewardship.