GREE Energy Limited, the leading biogas solutions provider in Southeast Asia has been awarded support from the Seed Capital Assistance Facility (SCAF) phase II for early stage low carbon projects in frontier markets of South-East Asia.
In March 2021 GREE signed a Cooperating Partner Agreement with Frankfurt School of Finance and Management, which together with United Nations Environment Programme (UNEP), implements SCAF II. For an initial support of US$ 500,000 over two years, and a potential extension during its term, the facility will co-finance GREE’s early stage business development efforts in Indonesia, Vietnam, Cambodia, Laos and Myanmar.
The financial support will allow GREE to increase its project pipeline and to explore new geographies beyond Indonesia, where GREE currently works. In parallel to scaling GREE’s business, the partnership with the FS and UNEP teams will also focus on strengthening GREE’s Environmental and Social Management System, in order to translate its sustainability principles into business cases.
“This partnership with SCAF is wonderful news for us. Beyond SCAF’s financial support, this is a recognition, by a leading international organization, of our performance in addressing major environmental and social challenges in Southeast Asia.” said Nicolas Stirer, CEO and Founder of GREE.
About GREE Energy Limited
GREE strives to fight climate change by scaling profitable biogas solutions that transform agro-food industry waste into valuable resources for people and the planet. Billions of tons of wastewater are generated as a byproduct across the food processing industry in South East Asia, contributing to massive greenhouse gas emissions and to water scarcity. GREE designs and provides biogas-to-energy solutions that not only treat industrial wastewater and reduce greenhouse gas emissions, but also turn these environmental liabilities into clean energy, organic fertilisers and other commodities for rural communities.
About Seed Capital Assistance Facility
As an innovative public private partnership, the Seed Capital Assistance Facility (SCAF), works through private equity funds and project development companies to mobilise early-stage investment for innovative low carbon projects in developing countries of Asia and Africa. After a successful phase I, the Facility started a second phase in 2014 which will run until 2026. Implemented by the UN Environment Programme (UNEP), it is managed by the Frankfurt School of Finance and Management, through its FS-UNEP Collaborating Centre for Climate and Sustainable Energy Finance.
More information on SCAF: www.scaf-energy.org