The impact investment platform Trine announces a new partnership with Bisedge, a green logistics provider focused on electric material handling services, enabling the replacement of diesel-powered material handling vehicles with electric ones. By using modern electric forklifts, CO2 emissions can be reduced by up to 130 tons per year.
The partnership will be the first-ever investment opportunity in green logistics at Trine, set to transform the logistics industry in Africa by moving material handling operations from diesel-powered to modern electric units. Subsequently, creating qualified jobs with a focus on female employment.
“I am delighted to see this transaction come through as this is our first-ever investment in a segment outside of solar systems. Forklifts are an essential tool in all production and warehouse sites and to spur the sustainability in these operations is something we are very passionate about”, said Christoffer Falsen, Head of Investments at Trine.
Replacing diesel-powered material handling vehicles such as forklifts with electric units reduces the use of diesel by up to 50,000 liters annually, equivalent to a reduction of 130 tons of CO2 per vehicle. Additionally, it reduces emissions and noise levels, both hazardous to the health of employees at production and warehouse sites.
Bisedge offers its services as full outsourcing solutions to African blue-chip companies, with Nigerian Breweries, a subsidiary of Heineken, being a first flagship client. Bisedge is partnering with Linde Material Handling, a global leading manufacturer of electric material handling equipment.
In order to support the transition of logistics into the 21st century and set new standards for gender equality in the sector, the United Nations Industrial Development Organisation (UNIDO), is supporting Bisedge in establishing a training academy in West Africa for material handling experts. The objective is to open the so far male dominated material handling industry to female professionals and realize a significant employment impact as every vehicle creates up to four jobs. The partnership between Trine and Bisedge includes a framework agreement of EUR 7 million to accelerate the investments in the industry of electric forklift trucks, with the first tranche of EUR 3 million to create 200 socially secured jobs in the sector.
“We are excited to partner with Trine to mobilize investments in green logistics in Africa and pioneer the transition from polluting diesel powered to clean electric operations. Our objective is to help drive the transition of the logistics industry in Africa and the Middle East to cleaner, more sustainable and cost-effective models, in partnership with Linde Material Handling and supported by the United Nations Industrial Development Organisation”, said Dr. Bernhard Koehler, Executive Director of Sunray Ventures.
“We hope our investors find this transaction as interesting as we do. It is definitely an exciting time to diversify into an industry with lots of potential. The quality of operations at Bisedge is something we are proud to be a part of and as with our borrower Daystar Power, another portfolio company of Sunray Ventures, we hope to see a long-term successful partnership and are excited about the future”, said Sam Manaberi, CEO of Trine.
Source:trine.com