Nithio, a leading energy finance platform in Africa, has announced an investment in SunCulture, an industry leader in solar irrigation and farming technology solutions. Nithio’s investment, made through its investment vehicle, Nithio FI, is part of the Productive Use Appliance Financing Facility (PUAFF), which catalyzes the uptake of productive use appliances across Africa.
SunCulture was founded in 2012 to help solve the daily challenges that smallholder farmers endure including time-consuming manual irrigation or reliance on the increasingly unpredictable rains for their crops.
PUAFF is managed by CLASP, an international non-profit organization that improves the energy and environmental performance of appliances and equipment, and Nithio, supported by the Global Energy Alliance for People and Planet (GEAPP).
Nithio’s investment is part of a $12m syndicated debt facility led by Mirova Sunfunder and financed through its Solar Energy Transformation Fund. Mirova (through its Gigaton strategy) and Triodos Investment Management, together will enable SunCulture to finance inventory and receivables for its Kenyan subsidiary across its productive-use renewable energy products, related appliances and irrigation equipment.
This will allow SunCulture to reach more customers, especially smallholder farmers who need affordable and reliable access to energy and water for their livelihoods.
Kate Steel, Nithio CEO, said: “We are delighted to partner with SunCulture, a pioneer and innovator in the solar irrigation and farming technology sector. SunCulture’s products have a proven impact on increasing agricultural productivity, income, and resilience for smallholder farmers.
“Through our investment, we aim to support SunCulture’s growth and scale, and contribute to the broader mission of GEAPP to accelerate the adoption of productive use appliances in Africa.
Nithio’s investment in SunCulture marks a significant stride towards transforming the landscape of solar irrigation and farming technology in Africa. Supported by GEAPP, this collaboration will drive innovation, sustainability, and prosperity across the region.
