Plus, EAAIF makes first Asia investment in Pakistan | Davidson Kempner and Nature Infrastructure Capital acquire renewables project development business
HEMAV, a Barcelona-based agritech firm, has closed €8m in funding. The funding was led by sustainability-focused investors Future Food Fund, PureTerra Ventures, and Inclimo, and will enable HEMAV to enhance its SaaS platform, LAYERS, according to the firm. The platform supports agriculturalists in making smarter, data-driven decisions to optimise yields, reduce input costs, and enhance resource efficiency, according to HEMAV.
HEMAV leverages AI technology to help agriculturalists predict their harvests, make resource use more efficient, and grow more food with fewer inputs. In 2024, the company expanded its presence to 24 countries, and digitised 9.2 millions of hectares of farmland.
“As we look to 2025 and beyond, we remain steadfast in our mission to deliver ground breaking AI-powered tools that foster security in global food supplies and promote sustainable practices, ensuring a healthy and prosperous environment for future generations,” said Xavier Silva, CEO of HEMAV.
EAAIF makes sustainable fuel investment in Pakistan
The Emerging Africa & Asia Infrastructure Fund (EAAIF), a Private Infrastructure Development Group company, has made its first investment into Asia. The transaction is a $20m (€18.9m) debt investment in a sustainable aviation fuel (SAF) facility in Pakistan. The project, developed by Safco Ventures, will have a feedstock processing capacity of 200,000 tonnes and will deliver 145,000 tonnes of SAF per annum, according to EAAIF.
The fund says that the facility will convert locally-sourced feedstock, such as used cooking oil, into clean fuel, while supporting income increases for Pakistan’s small businesses, hotels and restaurants which provide the feedstock.
“With this investment, we are affirming our commitment to expand EAAIF in South and Southeast Asia through major infrastructure projects that play a transformative role and set new standards. Sustainable aviation fuel supply must increase by more than 150 times to meet the aviation industry’s needs and support the sector’s ambition to reach net zero by 2050,” said Tidiane Doucoure, director, Emerging Market Alternative Credit at Ninety One, the fund manager of EAAIF.
The initiative is part of a total debt financing of $86.2m, comprising of a $41.2m senior secured loan from the Asian Development Bank (ADB), $40m of syndicated senior secured B-loans from EAAIF and the ILX Fund – who invested $20m each, and a $5m syndicated parallel loan from the International Finance Corporation. ADB acted as the sole mandated lead arranger and bookrunner.
Davidson Kempner and Nature Infrastructure Capital acquire renewables project development business
Global investment management firm Davidson Kempner Capital Management and private equity firm Nature Infrastructure Capital, which invests in the global energy transition, have acquired the Netherlands-based solar and storage project development platform of Greencells Group.
The development platform specialises in the acquisition, development, financing and operation of renewable and sustainable energy projects and is active across all key European markets as well as Canada, the organisations say.
The platform will operate as a standalone venture led by Greencells current CEO, Andreas Hoffman.
“This sale marks a significant milestone in Greencells’ growth journey. After several years of growing our development platform under the leadership of the Zahid Group, we are proud to see the size and quality of the portfolio created by our teams grow across Europe. Davidson Kempner and NIC are seasoned and sophisticated investors with an impressive track record in renewables. I am looking forward to overseeing the further advancement of the new venture and to continue advancing our mission,” said Hoffman.
