Six projects join third phase of Peru Climate Finance Accelerator program

Six Peruvian companies that are adopting innovative approaches to combat climate change have been selected to be part of the third phase of the Climate Finance Accelerator (CFA). The selected projects were chosen from more than 75 applications.

The projects come from the waste, water, fisheries, manufacturing, and agriculture, forestry and other land use sectors (AFOLU, for its acronym in English) and, if funded, will benefit communities throughout Peru. 

A key barrier to climate action is the limited supply of projects capable of attracting the financing and investment needed to implement large-scale solutions. 

Each company will receive personalized support and advice from financial and technical experts to strengthen their projects and increase their chances of attracting investment. This includes advice on financial models, how to prepare presentation materials and how to improve the gender equality and social inclusion (GESI) aspects of the projects. 

A final event, to be held in Lima in May, will allow projects to receive detailed advice from investors before making a final presentation to the investors present. The final event is an opportunity for project developers to make valuable connections with potential investors. 

The UK Ambassador to Peru, Gavin Cook, has stated:

It is very exciting to meet the seven innovative Peruvian companies joining the CFA this year. We are committed to helping establish long-term access to financing for these types of projects and to providing specific expertise and advice in the coming months.

Leveraging and empowering the private sector is vital to address the climate emergency in Peru and we will be a strong partner.

By bringing together stakeholders who can develop and finance climate projects at scale, the CFA support Peru's efforts to meet the priorities established in its Nationally Determined Contribution under the Paris Agreement.

Natalie Rona, Climate Finance Coordinator at Libélula, a partner of CFA Peru, said: 

The CFA Program provides an opportunity for projects with emissions reduction potential to strengthen their value proposition and enhance their funding opportunities. We are very excited to begin working with this new cohort, which in turn allows us to dream of increasingly ambitious domestic climate action.

The six projects selected for this third phase are:

1. Bio Natural Solutions.BNS, a biotech company, specializes in organic food preservation using patented processes to extract antimicrobial compounds from fresh agro-industrial residues, offering chemical-free solutions that effectively replace post-harvest waxes and fungicides. Targeting fresh fruit exporters, the revenue model focuses on B2B sales to the agribusiness sector, supported by key partnerships with fruit importers who endorse the efficacy of its preservation products.

2. Blume.Blume aims to monitor marine resources using robotics and AI. Their technology will not only help fishing companies become more efficient in locating anchovy shoals by reducing operating costs and increasing their catches, but will also help protect marine ecosystems and resources.

3. Ecoproducts.STARI YAQUA is an innovative technology that transforms wastewater into clean water, compost and protein-rich insect biomass. Our main customers are companies and industries that generate wastewater and require our wastewater treatment services, compact wastewater treatment plants (STARI BOX) and turnkey plants to comply with the maximum discharge values to the sewage system or to the environment according to current environmental regulations.

4. Gualca Seed.This initiative aims to increase the use of quality seed by creating partnerships with government and agribusiness companies. We intend to provide affordable, high quality hard yellow corn (MAD) seeds. These seeds cost 70% less than imported seeds, which not only reduces upfront costs for farmers, but also significantly improves their productivity.

5. Nanoinventa.NANOINVENTA's graphene water filter offers an innovative solution to a global problem: heavy metal contamination of water. The filter is capable of removing 98% of heavy metals from water, making it a more effective solution than traditional methods. The filter is designed for use in effluent and wastewater treatment plants. It is a cost-effective and sustainable solution that can help protect the environment and improve public health.

6. Textil del Valle.The project aims to establish a polyester plant in Peru, converting PET plastic from bottles into recycled polyester yarn for the textile industry, contributing to sustainability. With an effective capacity of 1,250 tons of garments/year, the project capitalizes on the growing demand for sustainable fashion products, projecting an annual cash flow of US$1.9 million and an IRR of 20.5%, leveraging Textil del Valle's capabilities for execution and distribution.