Mirova Backs Cold Solutions Kiambu With $19M for Sustainable Logistics

Grant Ochieng, CEO of Cold Solutions Kenya Limited

Mirova, an affiliate of Natixis Investment Managers dedicated to sustainable investing, announces a USD19 million investment in Cold Solutions Kiambu, a leading provider of temperature-controlled warehouse and logistics services in Kenya. This financing will enhance energy-efficient refrigeration and support food security and food loss and waste reduction efforts in the region. The partnership with Mirova Gigaton Fund[1] allows Cold Solutions Kiambu to continue ramping up operations of this flagship infrastructure initiatives, reinforcing sustainable practices in cold chain logistics.

Cold Solutions Kiambu (SEZ) Limited enhances Kenya's logistics capabilities by focusing on energy-efficient refrigeration systems that directly impact both the agricultural and pharmaceutical sectors. Supported by the investment from the Mirova Gigaton Fund, Cold Solutions Kiambu’s infrastructure incorporates its operations with a rooftop solar system that covers approximately 30% of the facility's energy requirements and the use of ammonia refrigerants that pose no threat to global warming. This flagship Agri-solar logistics project sets a global benchmark for energy-smart warehousing, reducing post-harvest losses and strengthening climate-resilient food systems. This commitment to sustainability will also optimize Cold Solutions Kiambu's operational efficiency. 

This company's flagship cold chain infrastructure project is crucial for minimizing food waste and ensuring pharmaceutical integrity. By operating its storage capacity that is approximately 15,000 pallet positions in Tatu City, Cold Solutions Kiambu is tackling spoilage effectively, enhancing client incomes and supporting regional economic development. This strategic approach not only addresses immediate logistical challenges but positions Cold Solutions Kiambu as a key player in promoting food security and economic resilience in Kenya. 

This investment from Mirova will contribute actively to the United Nations' Sustainable Development Goals (SDGs)[2], particularly SDG 2 (Zero Hunger), SDG 12 (Responsible Consumption and Production) and SDG 13 (Climate Action). In this way, Cold Solutions not only fulfills its operational capacity but also reaffirms Mirova’s dedication to impactful investments in emerging markets.

This financing exemplifies how the Mirova Gigaton Fund aims to accelerate transformative climate solutions in emerging markets. By backing Cold Solutions Kiambu, we’re scaling clean-powered, climate-aligned, and operationally resilient cold chain infrastructure, critical for food security and health systems across East Africa.

John Kimotho

Investment Director, Mirova Kenya[3]

Our partnership with Mirova underscores our commitment to working with like-minded investors to reduce food loss and strengthen food systems, and, vaccine efficacy across East Africa — all in a sustainable, energy-efficient manner.

Suki Muia

Investment Director, ARCH Emerging Markets Partners Limited

 

 

[1] Mirova Gigaton Fund is structured in the form of a SICAV RAIF (Société d’Investissement à Capital Variable, Reserved Alternative Investment Fund) under Luxembourg law, open to subscription to eligible investors as defined in the regulatory documents. Mirova is the management company and Mirova Kenya Limited acts as Investment Advisor to Mirova. The supervisory authority approval is not required for this fund.
[2] The SDGs (Sustainable Development Goals) are a set of 17 global objectives established by the United Nations to promote peace, prosperity, and environmental sustainability for all by 2030.
[3] Acting as advisor to Mirova, the AIFM of the Mirova Gigaton Fund.

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