First cohort of 9 innovative low-carbon projects launched in Egypt
19 January 2023
The Climate Finance Accelerator (CFA) Egypt, funded by the UK Government, has chosen nine innovative low-carbon climate projects from across Egypt to make up its first cohort to receive technical and financial support to help them attract the investment they need.
Genesis Analytics, in partnership with Acumen Consulting Egypt, has been working with PwC to develop a sustainable pipeline of bankable, low-carbon projects in Egypt and identify suitable financing for them.
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The chosen nine CFA projects are as follows:
Al Dawara: This company creates a 100% natural and fully compostable alternative to traditional thin film plastic, such as plastic bags, freezer bags, inner coating for food packaging.
Creative Power Solutions: A manufacturer for thermal solar panels, with the goal of selling its panels to electric utility and industrial clients in the MENA region.
Farmtopia: This project automates farming with the use of Artificial Intelligence (AI) and the Internet of Things (IoT)
Green Fashion: Designs and produces environmentally-friendly fashion and socially responsible clothes to support local communities in Egypt.
IRSC for Renewable Energy Solutions: Empowers small-scale farmers by providing them with financial and agricultural support through its operational and agricultural expertise.
ReNile: This project provides advanced technological solutions to help farmers monitor water, air and soil quality to better manage their farms while safeguarding the use of resources.
Tile Green: Produces eco-friendly building materials from plastic waste using state-of-the-art manufacturing processes.
Zr3i: A digital agricultural platform providing precision farming solutions for crop management.
The CFA is a GBP 10 million, four-year program funded by the UK government to support low-carbon projects in eight middle-income countries. In Egypt, it is set out to aid the country in its green transformation, and support it in the green and climate finance landscape.