Cooling is estimated to account for around 7% of global greenhouse emissions, more than aviation and shipping emissions combined. The demand for cooling has been constantly growing, and rising temperatures across the world caused by climate change is a major contributor.
To address the pressing need for cooling technologies that are efficient, less harmful, and commercially viable, PFAN partnered in 2019 with the Clean Cooling Collaborative (CCC), formerly the Kigali Cooling Efficiency Program (K-CEP), to promote energy-efficient cooling in developing countries. Since then, more than 20 projects have been supported with business coaching and investment facilitation services.
In March 2021, PFAN and CCC held the Cooling Investment Forum, which was attended by more than 300 investors, project developers and cooling stakeholders. The Forum provided a platform to discuss current cooling investment issues and gave an opportunity for five PFAN-supported cooling projects to pitch in front of the potential investors.
The joint knowledge accumulated by PFAN and CCC throughout their partnership has been reflected in the report “Investing in a Cooler Future for All”, which was published in September 2021 and can be useful for aspiring entrepreneurs, investors, or anyone who wants to take forward sustainable cooling investments. The report provides an overview of the cooling sector: the key features, challenges and increasing demand, and explains how PFAN and CCC have partnered to offer entrepreneurs operating in the sector better access to PFAN’s proven model of business development support and investment facilitation. This partnership has also contributed to addressing the issues facing the sector such as weak policies, lack of an engagement platform for investors and entrepreneurs, investor bias for localized solutions, and affordability for consumers.
The “Investing in a Cooler Future for All” report shares selected energy-efficient cooling solutions supported by PFAN, such as cold chain products for milk cooling and fruits/vegetable modular solar cold storage developed by Inficold (India), and off-grid Pay-as-you-Go cold storage offered to Kenyan farmers by SokoFresh. Other success stories include ACI Agrolink (Bangladesh), ENdep (Tanzania) and PT Sumber Mina Investama (Indonesia).
PFAN continues to catalyse cooling solutions in developing countries to contribute to a cooler future.
Photos L-R: ACI Agrolink shrimp processing plant, Satkhira, Bangladesh
Avocado from farmers in Kivute, Embu County to be stored in Sokofresh cold storage, Kenya
Inficold solar cold storage for agricultural produce, India