ImpactAlpha, October 19 — Indore-based EKI Energy is a global carbon credits supplier and project manager with its own trading platform. The company also provides adjacent sustainability advisory services to companies with net-zero goals.
EKI Energy is looking to raise $125 million for a climate impact fund to invest in high-impact community development projects in rural communities in India and select countries in Africa, Asia and Latin America. The company is anchoring the fund with $24.3 million.
As “the world is fast striding towards a net-zero future, we want to empower this journey with focused investments in climate projects globally,” said EKI Energy’s Manish Dabkara. “We also want to strengthen our focus on community development.”
The fund will target local-based projects such as clean drinking water filtration systems, energy efficiency and waste management solutions and clean cooking stoves. GHG Reductions Technologies, EKI Energy’s subsidiary, runs a clean cooking stove manufacturing facility in India that can make up to five million stoves per year.
EKI Energy has formed a partnership with Singapore-based fund manager Impact Capital Asset Management to manage the fund’s investments — and fundraising. EKI Energy hopes to expand its global network of carbon credits clients with the fund.
The pitch to investors: access to high-quality carbon credits that can be used to offset carbon emissions, or sold on EKI Energy’s carbon credits trading platform.