Bio-Logical Raises $1.3M to Scale Carbon Removal and Build the Climate Resilience of Kenyan Smallholder Farmers
NAIROBI, Kenya, July 16, 2024 /PRNewswire/ -- Climate Tech company Bio-Logical, a leading biochar carbon removal company based in Kenya, secured $1.3 million in funding. This investment will expand their Mt. Kenya biochar facility to meet the increasing demand for carbon removal and support climate resilience for Kenyan smallholder farmers.
This funding will enable Bio-Logical to increase its carbon removal and fertiliser production capacity to become one of the largest biochar producers in the world, boosting crop yields and climate resilience for thousands of smallholder farmers.
"Smallholder farmers, who are some of the worst affected people on earth when it comes to climate change, are currently suffering at the hands of a climate crisis they have played no part in. At Bio-Logical, we use carbon removals to not only sequester carbon but also develop affordable soil regenerating fertiliser which boosts yields and improves the climate resilience of smallholder farmers throughout Kenya." Philip Hunter, Co-CEO.
The funding round was led by a group of high net worths and other investors including CrossBoundary, Redshaw Advisors and existing investors the Steyn Group. This investment supports Bio-Logical's goal of increasing its carbon removal capacity to 100,000 tonnes of CO2 annually over the next 18 months, with plans to establish three additional sites across Kenya.
"Redshaw Advisors is delighted to participate in Bio-logical's latest fundraising, that will help them to create high integrity carbon removal credits while simultaneously having a positive impact on farmers in need of support with climate resilience. This naturally compliments our work supporting corporates that want to do something positive about climate change, with high quality projects and in countries most in need of support with decarbonisation." Louis Redshaw, CEO Redshaw Advisors.
Having announced its deal with Microsoft in 2023, which is the largest single purchase of biochar carbon removal from an African Biochar project, Bio-Logical plans to scale up its annual removal capacity to 100,000 tonnes of CO2 over the next 18 months.
"This funding round will play a pivotal role in scaling up our Mt.Kenya facility and building a tonnes blueprint for scale as we roll out three new sites throughout Kenya over the next 18 months" Rory Buckworth, Co-CEO.
LinkedIn: https://www.linkedin.com/company/bio-logical/
Website: https://www.bio-logical.green/
Photo - https://mma.prnewswire.com/media/2460307/Bio_Logical_Mt_Kenya_Site.jpg
SOURCE Bio-Logical
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