NAIROBI, Kenya, July 16, 2024 /PRNewswire/ -- Climate Tech
company Bio-Logical, a leading biochar carbon removal company based
in Kenya, secured $1.3 million in funding. This investment will
expand their Mt. Kenya biochar
facility to meet the increasing demand for carbon removal and
support climate resilience for Kenyan smallholder farmers.
This funding will enable Bio-Logical to increase its carbon
removal and fertiliser production capacity to become one of the
largest biochar producers in the world, boosting crop yields and
climate resilience for thousands of smallholder farmers.
"Smallholder farmers, who are some of the worst affected
people on earth when it comes to climate change, are currently
suffering at the hands of a climate crisis they have played no part
in. At Bio-Logical, we use carbon removals to not only sequester
carbon but also develop affordable soil regenerating fertiliser
which boosts yields and improves the climate resilience of
smallholder farmers throughout Kenya." Philip
Hunter, Co-CEO.
The funding round was led by a group of high net worths and
other investors including CrossBoundary, Redshaw Advisors and
existing investors the Steyn Group. This investment supports
Bio-Logical's goal of increasing its carbon removal capacity to
100,000 tonnes of CO2 annually over the next 18 months, with plans
to establish three additional sites across Kenya.
"Redshaw Advisors is delighted to participate in Bio-logical's
latest fundraising, that will help them to create high integrity
carbon removal credits while simultaneously having a positive
impact on farmers in need of support with climate resilience. This
naturally compliments our work supporting corporates that want to
do something positive about climate change, with high quality
projects and in countries most in need of support with
decarbonisation." Louis Redshaw, CEO
Redshaw Advisors.
Having announced its deal with Microsoft in 2023, which is the
largest single purchase of biochar carbon removal from an African
Biochar project, Bio-Logical plans to scale up its annual removal
capacity to 100,000 tonnes of CO2 over the next 18 months.
"This funding round will play a pivotal role in scaling up
our Mt.Kenya facility and building
a tonnes blueprint for scale as we roll out three
new sites throughout Kenya over
the next 18 months" Rory
Buckworth, Co-CEO.
LinkedIn: https://www.linkedin.com/company/bio-logical/
Website: https://www.bio-logical.green/
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