Mirova, acting through its Mirova Gigaton Fund, has announced a $19 million investment in Cold Solutions Kiambu, a Kenyan company specializing in temperature‑controlled warehousing and logistics infrastructure. The investment is designed to strengthen Kenya’s rapidly expanding cold chain sector, which plays a vital role in supporting the country’s food systems and healthcare supply chains.
The Mirova Gigaton Fund (MGF), launched in 2023, is a $400 million blended‑finance vehicle designed to accelerate clean energy and climate‑resilience projects in underserved markets, mainly in Sub‑Saharan Africa. Its layered capital structure—combining senior and junior capital plus guarantees—helps attract private investors to sectors like SME solar, e‑mobility, mini‑grids, agri‑solar, and telco ESCOs.
Cold Solutions Kiambu is enhancing Kenya’s logistics landscape by developing energy‑efficient, climate‑aligned refrigeration and storage systems. These systems are essential for maintaining the quality and safety of perishable agricultural products and ensuring the integrity of pharmaceutical supplies, including vaccines, across the region. By integrating clean‑powered technologies into its operations, the company aims to address long‑standing gaps in Kenya’s cold chain capacity.
Commenting on the investment, John Kimotho, Investment Director at Mirova Kenya, emphasized the strategic significance of the partnership.
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.
Suki Muia, Investment Director at ARCH Emerging Markets Partners, echoed this sentiment, highlighting the shared vision behind the collaboration.
Our partnership with Mirova underscores our commitment to working with like‑minded investors to reduce food loss, strengthen food systems, and support vaccine efficacy across East Africa – all in a sustainable, energy‑efficient manner.
Through this investment, Mirova aims not only to expand cold chain infrastructure but also to promote climate‑resilient, low‑carbon development pathways for essential sectors across East Africa.
