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CLIMATE FUND INVESTS IN DAMEN'S PORTABLE BWMS

CLIMATE FUND INVESTS IN DAMEN'S PORTABLE BWMS

Thursday, March 11, 2021 

Climate Investor Two (CI2), a financing facility mandated to invest in water, sanitation and ocean infrastructure projects in emerging economies, has approved an investment potentially worth up to 24.5m to support the lease of Damens portable ballast water management solution (BWMS) InvaSave to customers in Africa, Asia, and Latin America.

CI2 enjoys support from the EU and the Dutch Fund for Climate and Development (DFCD). The consortium that manages the €160m DFCD includes World Wide Fund for Nature Netherlands (WWF-NL), Netherlands Development Organisation (SNV) and Entrepreneurial Development Bank, FMO. Climate Fund Managers (CFM), the manager of CI2, as well as the DFCD, is pleased to announce the signing of this Development Funding Agreement, initially of €2.8m, to finance the start of this project with Damen Financial Services, a new department within Damen Shipyards Group.

Damen's containerised BWMS InvaSave offers a port-based solution to ships ill-equipped to treat their ballast water or wishing to supplement their existing treatment capabilities to meet higher standards. In addition, the system is currently the only one to be certified by the IMO under the BWM convention. During the commercial phase, it is estimated that the systems will treat up to 36,000m3/day of ballast water.

Tarun Brahma, CFM Head of Investments, said: “The Damen project represents an exciting opportunity to get ahead of the growing demand for ballast water treatment, whilst also contributing toward climate adaptation and preserving the future of marine ecosystems. In addition, we estimate this project to create 240 new jobs locally.”

Jan Willem van Helden, MD Damen Financial Services, said: “Thanks to the lease construction made possible through our partnership with Climate Investor Two, this eco-friendly solution will be within reach of many more companies and governments in Africa, Asia, and Latin America.”

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