Climate Investor Two has approved an investment that could amount to €24.5M (US$29M) to support the lease of Damen’s portable ballast water treatment solution InvaSave to customers in Africa, Asia, and Latin America
Climate Investor Two (CI2) is a financing facility mandated to invest in water, sanitation and ocean infrastructure projects in emerging economies. It enjoys cornerstone support from the EU and the Dutch Fund for Climate and Development (DFCD).
The consortium that manages the €160M DFCD also includes World Wide Fund for Nature Netherlands, Netherlands Development Organisation and Entrepreneurial Development Bank, FMO.
Climate Fund Managers, the manager of CI2, as well as the DFCD, has announced the signing of a development funding agreement of €2.8M to finance the start of this project with Damen Financial Services, a newly founded department within Damen Shipyards Group.
Under the project, Damen will ramp up production of its InvaSave onshore ballast water treatment solution, to provide a port-based solution to ships ill-equipped to treat their ballast water or wishing to supplement existing treatment capabilities to meet higher standards.
Climate Fund Managers head of investments Tarun Brahma said, “The Damen project represents an exciting opportunity to get ahead of the growing demand for ballast water treatment, while contributing toward climate adaptation and preserving the future of marine ecosystems. In addition, this project will create approximately 240 new jobs locally.”
Damen Financial Services managing director Jan Willem van Helden said “Thanks to the lease construction made possible through our partnership with Climate Investor Two, this eco-friendly solution will be within reach of many more companies and governments in Africa, Asia, and Latin America.”