OTS - Climate-Tech Start-Up EcoNetix secures 7-digit Seed Investment Round
2024. March 28. 09:40
Vienna, 28 March, 2024 (APA/OTS) - In March 2024, the Vienna based
climate-tech start-up EcoNetix secured a 7-digit seed investment
round comprising lead investor Voltares Ventures, Persistent and
asc impact.
EcoNetix develops a data-driven tech solution for monitoring
and tracking CO2 savings (dMRV) and is building a global carbon
credit portfolio. With local partners, EcoNetix develops and
certifies large-scale reforestation, coastal restoration, and
renewable energy projects in Africa. According to consulting
powerhouse McKinsey & Company the CDR market is expected to grow
substantially in the next years and could be worth up to $ 1.2
trillion by 2050.
"Our mission is to save 100 million tons of CO2eq by 2030 and
bring back trust into the carbon market" say managing directors
Jakob Zenz (Founder and CEO) and Paul Nimmerfall (Co-Founder and
COO), adding "the carbon market was rightly criticized in the past
for lacking transparency, we have started EcoNetix to change that".
David Salzgeber (Co-Founder and CTO) specifies that "being able to
gather live data from very remote places is a real game changer.
Through our tech solution we collect huge amounts of data via
satellites, on-ground sensors, cameras, and weather stations. This
ensures high-quality carbon credits".
EcoNetix currently is active in 6 countries on 3 continents
(Tanzania, DRC, Kenya, Angola, UAE, and EU) and employs over 150
people with its project partners worldwide. Following this seed
round the management plans to grow the core team from 5 to 15
employees and open 9 country desks within the remaining 9 months of
2024.
The Seed Round has been lead by Voltares Ventures, co-lead by
Persistent and financially supported by asc impact.
About the investors:
Voltares is a group of companies dedicated to clean energy,
based in Vienna. Voltares responds to the climate crisis by
developing renewable energy projects in the Global South, and by
investing into climate tech companies.
"We are excited to partner with EcoNetix to join the ongoing
transformation of the CO2 savings market towards a more
transparent, efficient and impactful monitoring. As investors and
developers with ongoing projects in Georgia, India and Sri Lanka we
eagerly anticipate utilizing the EcoNetix platform from the first
moment on."
- Cornelius Patt, Founder & CEO
Persistent, founded in 2012, is Africa's Climate Venture
Builder. Persistent is a leader and pioneer investor in the
off-grid energy and e-mobility sectors in Sub-Saharan Africa, with
over 25 early-stage investments in pay-as-you-go (PAYG) solar
distributors, commercial and industrial solar (C&I), mini-grid
developers, technology enablers and e-mobility companies.
Persistent has contributed to improving 5 million lives, powering
600,000 households, avoiding over one million tons of CO2e, and
creating 15,000 jobs.
"EcoNetix represents the newest generation of innovative carbon
project development companies, complementing our existing portfolio
and unlocking new revenue streams for the broader climate sector in
Africa. We believe companies like Econetix will make carbon markets
reliable and trustworthy again and enable carbon finance to
accelerate the vital transition required for climate change
mitigation. We are also excited to get exposure to the African
nature-based solutions space through their work."
- Tobias Ruckstuhl, Managing Partner
asc impact is an impact fund with investments into sustainable
forestry and agriculture in Sub-Saharan Africa.
"We see EcoNetix' mission as crucial for the success of the
broader carbon market. In a short time Jakob, Paul and their team
have shown great initiative and ethics on the ground. They combine
creative solutions to problems of the carbon markets and are
putting in the hard work wherever it is needed. We were able to
compare their work to many other firms: It is our conviction that
EcoNetix can deliver high-value and transparent carbon
certificates. We are happy to support the Seed Round with a
substantial financial commitment in order to strengthen our
partnership."
- Karl Kirchmayer, Managing Partner
Contact details:
Jakob Zenz
Managing Director
Founder & CEO
jakob@econetix.net
+43 664 2559924
Paul Nimmerfall
Managing Director
Co-Founder & COO
paul@econetix.net
+43 664 2409442
EcoNetix GmbH
www.econetix.net
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