Infrastructure developer Arise Industrial Services has bought a 35% stake in France-headquartered environmental certificates provider Aera Group at a €28.5m ($34.5m) valuation, equating to a $12m investment.
Aera Group generates and trades carbon dioxide reduction certificates and is looking to acquire the equivalent of 50 million metric tonnes of CO2 emissions reduction this year.
The company has also announced an extension of its trading lines to cover renewable energy production, biodiversity protection and water benefits-related products.
Arise, a joint venture between agribusiness Olam International and development finance provider Africa Finance Corporation, plans to use the mechanism to effectively make its industrial zones in the African countries of Gabon, Togo and Benin carbon neutral and climate positive.
