2 July, 2024
TechEmerge Innovator Ecozen Delivers Innovation and Impact in Nigeria
TechEmerge Innovator, Ecozen Solutions, is building on the success of its sustainable cooling pilot project in Nigeria, with new deals that will provide local farmers with access to its portable solar-powered cold storage unit and help protect harvests from spoilage and waste.
India-based Ecozen says partnerships with UK Cold Nigeria, Surechill, and All Time Fresh will see up to 40 Ecofrost units deployed in an additional five Nigerian states before the end of 2024.
“Support from IFC’s TechEmerge during our pilot in Nigeria was instrumental in scaling up operations and making a significant impact on reducing post-harvest losses,” said Ecozen President, Ravindra Dolare. “TechEmerge was a catalyst in this journey of innovation and positive impact.”
Dolare says the new partnerships will also demonstrate the viability of the lease business model in Nigeria.
The news follows Ecozen’s announcement in April that it successfully raised $30 million from Nuveen Global Fund and other equity investors, with debt support from InCred Credit Fund and the International Development Finance Corporation. Ecozen plans to use the injection to expand its offerings and extend its market reach in Africa and Southeast Asia.
A recent United Nations report revealed that almost one fifth of all food produced worldwide is wasted, amounting to 1.05 billion metric tons each year, which also generates up to 8 percent of all global greenhouse gases. In Nigeria, food wastage rates are even higher, at an estimated 40 percent.
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