Terms
- Announced
- 16 Oct 2024
- Instrument
- Equity
- Amount
- US$3.90mReported as $3.9m of a $5m package
- Source
- techcrunch.com
Parties
- Project developer
- Octavia Carbon
- Recipient type
- Technology company
- Country
- Kenya
- Capital providers
Capital providers and the amount counted for each Party Role Amount Basis Lateral Frontiers VC Investor US$0.65m Estimated: an even share, 1 of 6 E4E Africa Investor US$0.65m Estimated: an even share, 1 of 6 Catalyst Fund Investor US$0.65m Estimated: an even share, 1 of 6 Launch Africa Ventures Investor US$0.65m Estimated: an even share, 1 of 6 Fondation Botnar Investor US$0.65m Estimated: an even share, 1 of 6 Renew Capital Investor US$0.65m Estimated: an even share, 1 of 6
Carbon
- Pathway
- DAC
What happened
- Lateral Frontiers VC and E4E Africa co-led. The USD 5m headline is USD 3.9m of equity plus USD 1.1m of contracted carbon credit pre-sales; only the equity leg is recorded here. Jochem Wieringa also participated as an individual and has no provider row.
Kumo note
- A fifth of the announced figure is customer money rather than investor money. Storage sits outside the company, with Cella Mineral Storage taking the CO2 into Rift Valley basalt.
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