Mirova in Kenyan cold storage deal
Mirova, through its Mirova Gigaton Fund, announced a $19 million investment in Cold Solutions Kiambu.
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Mirova, through its Mirova Gigaton Fund, announced a $19 million investment in Cold Solutions Kiambu, a provider of temperature-controlled warehouse and logistics services in Kenya.
Cold Solutions Kiambu enhances Kenya’s logistics capabilities by focusing on energy-efficient refrigeration systems that directly impact both the agricultural and pharmaceutical sectors.
“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,” says John Kimotho, investment director of Mirova Kenya.
“Our partnership with Mirova underscores our commitment to working with like-minded investors to reduce food loss and strengthen food systems, and, vaccine efficacy across East Africa – all in a sustainable, energy-efficient manner,” noted Suki Muia, investment director at ARCH Emerging Markets Partners.
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Brilliant move focusing on climate-aligned cold chain infrastructure. The food loss angle is huge here, I've seen estimates that inadequate refrigeration in emerging markets wipes out like 30% of produce before it even reaches market. What's clever is how they're bundling the agricultural and pharma benefits into one play, that dual-impact probably made the investment thesis way easier to justify internaly.