South African investment firm New GX Capital has secured US$28 million (R488 million) in funding from Nedbank Corporate and Investment Banking (CIB) for its clean-tech investment vehicle, Airnergize Capital Fund I. The fund, launched in April 2025, is focused on accelerating infrastructure development in renewable energy, gas, and water across the African continent.
Led by New GX Capital CEO Khudusela Pitje, Airnergize Capital has now raised a total of US$161 million (R2.8 billion) from a consortium of investors, including RMB Ventures, which committed $111 million at the fund’s inception.
Pitje expressed gratitude for Nedbank’s long-standing support, which began four years ago with the acquisition of Mettle Solar, a relatively unknown entity at the time that has since evolved into Sustainable Power Solutions, a leading commercial and industrial solar and storage platform.
We are humbled by Nedbank CIB’s support, which started with our acquisition of Mettle Solar. Today, Sustainable Power Solutions is a key part of our portfolio, and this partnership under the Airnergize Capital umbrella will allow us to scale clean-tech infrastructure across Africa.
The fund’s portfolio includes Sustainable Power Solutions, which is now positioned for further expansion in South Africa and selected African markets, leveraging the new capital to deepen its impact in the region’s energy transition.
Tebatso Modiba, deal executive at Airnergize Capital, emphasized the strategic alignment between the fund and its investors:
Nedbank CIB is a like-minded, long-term investor that shares our vision to build a leading clean-tech platform under the Airnergize Capital umbrella, one that unlocks a sustainable tomorrow for South Africa and the continent.
Airnergize Capital aims to play a transformative role in Africa’s clean-tech landscape by investing in scalable, sustainable infrastructure solutions that address energy access, water security, and environmental resilience.
