Florence, Italy, 14 January 2021 - Green Climate Ventures (GCV) announced the successful merger of its fully controlled company Nexus Energy with Africa GreenTec - both ARE Members. The financial terms of the transaction, finalised on 1 January 2021, have not yet been disclosed.

Africa GreenTec AG (AGT AG), is a German leading mini-grid developer operating 21 mini-grids in the Sahel region, three plants under construction, a secured pipeline of 100s of sites in development and an ongoing expansion in seven African countries. AGT is set to become the mini-grid market leader in the coming years by bringing electricity, water, internet and cooling services under a micro utility model to remote communities using its own multi-patented technology developed in Germany.

AGT AG is an impact-driven, for-profit enterprise founded in 2016 by Aida and Torsten Schreiber. With the ImpactSite, AGT AG has developed a holistic system solution that makes it possible to supply an entire rural community with electricity and other vital services.

Nexus Energy is a relatively young mini-grid developer company with projects in Haiti, Liberia and several other African countries. It has consistent know how as well as advanced market and technology intelligence capabilities in the sector.

The company was founded in 2019 by Claudio Pedretti, a veteran clean energy entrepreneur who also established other successful companies in the same sector. He is also an industry leader, currently serving as President of the Alliance for Rural Electrification (ARE), a Steering Committee member of REN21, and CEO of GCV Green Climate Ventures.

As a result of the merger, Nexus Energy is now fully dissolved into AGT holdings structure while Green Climate Ventures becomes an important shareholder of AGT AG holdings. The founder and CEO Claudio Pedretti assumes inside AGT AG the role of Advisory Board member. He will bring market knowledge as well as strategic and financial acumen in order to foster AGTs strategic exponential growth.

Torsten Schreiber Africa GreenTec Founder and CEO: "Africa GreenTec has a very young, motivated team and a great vision. By 2030, we want to supply 3 million people with clean energy, water, and cold chains. With Nexus Energy's projects, we can reach this goal faster."

Claudio Pedretti Nexus Energy and Green Climate Ventures founder and CEO: “I am so excited to join AGT and their extremely powerful and genuine effort in bringing positive change in the life of millions of Africans. AGT has proved of being capable to run effectively and profitably mini-grid assets in the most complicated geographies on the planet. Our pipeline is simply amazing with hundreds of concessions obtained in sub-Saharan Africa, an immense potential for delivering a positive impact. I feel all that responsibility.”

 

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