Wangara Green Ventures, an impact investment fund, has announced a GHS 2.5 million investment in Cleanearth Scientific Limited to support it to develop water and wastewater treatment systems toward the provision of potable water in Ghana.
The investment, being funded by the World Bank, through the $3.2m Ghana Climate Venture Facility, would enable the Company to also offer quality water testing solutions and support services.
A statement issued by Wangara and copied to the Ghana News Agency, on Wednesday, said the investment in Cleanearth Scientific would also help the Company to expand its services to other industrial customers in Ghana, Senegal, Cote D’Ivoire, Nigeria and Liberia for clean water and wastewater treatment projects.
Mr. Ekow Archer, CEO of Cleanearth Scientific, stated that sustainable management of water and its treatment was a key part of the Company’s strategic intent to create jobs, make a difference in the quality of life and protect the environment in Africa, according to statement.
“Our partnership with Wangara Green Ventures and this investment positions us to take bold steps into the future to meet our growth aspirations”.
Cleanearth Scientific is a life sciences and engineering company that provides industrial clients in West Africa with instruments to monitor the quality of water, products and environment.
In addition, the company executes projects for treatment and optimization of water and wastewater systems. Key industries the company serves include Food & Beverage, Mining, Power Generation, Pharmaceutical, Petroleum, and Municipal Water.
Wangara Green Ventures is an impact investment company that invests between GHC 250,000 to GHC 2,500,000 in equity and quasi-equity in Small and Growing Businesses (SGBs) in ‘the missing middle’ that are engaged in renewable energy, energy efficiency, waste management, water management, climate-smart agriculture or generally climate-friendly businesses.
Wangara also supports the growth and sustainability of these SGBs by making available pre-investment and post-investment Technical Assistance.