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Cleantech Investments and Africa: A Natural Fit

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Cleantech investments are on the rise globally. 2010 figures are exceeding 2009 figures, according to the CleanTech Group. But how does Africa figure in this picture? Kyle Denning of Sustainable Energy Solutions says the Cleantech sector is poised for growth in Africa once a few projects prove viable. Cary Lee Peterson of Ecco2 is convinced that their project in Nigeria is one of those key projects that will open the watershed for cleantech projects on the continent. Both Peterson and Denning join AfribizTalk to share about their niche in the Cleantech sector in Africa.

Ecco2 has recently signed agreements with both the Haitian and Nigerian governments to bring their carbon emission reducing devices to market in each of the countries. It would seem strange for Ecco2 to enter economies with high unemployment and poverty, but cost of the technology is affordable compared to other solutions and they have found a way to generate revenue while providing the technology for free. Peterson shares that the carbon credits earned by the installation of the Ecco2 technology are signed over to them to trade on the carbon commodities exchange.

Denning says with projects like this focus can be on social and environmental impact while being economically viable.

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