• Mirova invests $19 million in Cold Solutions Kiambu through the Gigaton Fund

• Project strengthens low-carbon cold storage and logistics infrastructure

• Facility supports agriculture and pharmaceuticals while cutting food losses

Mirova, an affiliate of Natixis Investment Managers, said on January 20 it has invested $19 million in Cold Solutions Kiambu, a Kenyan company specializing in temperature-controlled cold storage and logistics.

The funding, made through the Mirova Gigaton Fund, is intended to scale up cold chain infrastructure designed to limit climate impact, although the exact financial structure was not disclosed. Cold Solutions Kiambu operates a facility in Tatu City with capacity for around 15,000 pallet positions, serving mainly the agricultural and pharmaceutical sectors.

The site relies on high-efficiency refrigeration systems, uses ammonia-based refrigerants, and is equipped with rooftop solar panels that cover about 30% of its energy needs.

“This financing exemplifies how the Mirova Gigaton Fund aims to accelerate transformative climate solutions in emerging markets,” said John Kimotho, Mirova Kenya’s investment director. “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.”

According to estimates published in 2022 by the FAO and the Institute of International Finance, more than 38% of food losses in sub-Saharan Africa occur at the production and post-harvest processing stages. The two institutions estimate that stronger cold chain infrastructure could help preserve more than 475 million tons of food, a volume theoretically sufficient to feed around 950 million people each year.

Against this backdrop, Mirova’s investment highlights the broadening of climate finance in Africa beyond power generation, toward industrial infrastructure that can cut waste, reduce losses, and strengthen regional food security.

Abdoullah Diop