€30.000 awarded to bio-based alternative to wood charcoal and pilot for seaweed farming to tackle climate change
OPIN Foundation and Royal IHC have each been awarded 30.000 euro’s for their innovative plans promoting climate mitigation and adaptation in developing countries.
During the Global Impact Investing Network (GIIN) Investor Forum, the organisations competed in the Dragons’ Den, pitching their business cases to a large group of private investors. OPIN Foundation and Royal IHC came out as winners with their ideas for the introduction of a bio-based alternative to wood charcoal in Ghana and a pilot for seaweed farming in Indonesia. The provided seed capital will empower OPIN Foundation and Royal IHC to further develop and sharpen their ideas with the aim of bringing them to life.
“We have developed a bio-based material that will revolutionise the charcoal market in Africa. Our product has the potential to save 90,000 soccer fields of forest yearly, in Ghana alone,” was one of the take-outs of the pitch of Peter Delahaye, CEO of the OPIN Foundation.
Bernadete Goncalves Castro, Project Manager R&D at Royal IHC, said: “The MoMo-prize will give a strong impulse to the realisation of a large-scale seaweed cultivation pilot in Indonesia. This pilot is the first step towards modernisation of seaweed cultivation worldwide. The mechanisation technology developed by Royal IHC is an important piece in the puzzle to make this emerging maritime market a reality”.
According to Hein Gietema of CSC Finance, member of the selection panel who is involved in narrowing the selection of proposals, it is “fantastic to see the great pitches of Dutch organisation and their innovative business cases for climate action that are of interest to a range of investors”.
The prize was made available by the Mobilising More (MoMo) initiative, consisting of Energy research Centre Netherlands (ECN), the Netherlands Committee of the International Union for the Conservation of Nature (IUCN NL) and the Netherlands Ministry of Foreign Affairs (NL MFA). The aim of the MoMo initiative is to guide ideas that have strong potential to positively impact climate change to projects which are ‘investor-ready’.
In 2017, ECN, IUCN and NL MFA will continue to work together in the MoMo initiative to support innovative projects aimed at mobilising climate finance for developing countries in the cleantech, food, agro and water sectors. Companies and organisations with an innovative business case in developing countries having a promising positive impact on either climate change mitigation or adaptation, will also in 2017 be able to acquire support with the further development and financing of their business cases. Project proposals can be submitted at www.momo4climate.org.
ECN, IUCN NL and the NL MFA, collect and evaluate the submitted project ideas and advise submitters on possible improvements of the quality of the proposal and the financing possibilities. Consequently a selection of the best proposals is submitted to the MoMo panel, consisting of financial experts from Triodos Bank, NLII, FMO, BZ, PYMWYMIC, CSC Finance, and RVO. The panel will in turn narrow down the selection by critically reviewing the proposals. The proponents of the best proposals will be invited to pitch their cases during the annual MoMo closing event, which this year took place during the GIIN Investor Forum.
For more information, please visit the MoMo website, or contact Laura Hoogwerf of ECN through our contact form.