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March 2015 An Taoiseach Enda Kenny Helps Launch Visionary Initiative to be Supported by €300 Million Euro Fund
An Taoiseach Enda Kenny Helps Launch Visionary Initiative to be Supported by €300 Million Euro Fund
The Global Sustainability Initiative (GSI), an innovative global impact investment project, joins the fight against global warming with the creation of a safe economic model for sustainable production and consumption of food, water and energy in disadvantaged regions of the world will have an initial focus on southern Africa.
An Taoiseach Enda Kenny, Mayo County Council Cathaoirleach Damien Ryan and Mayo County Chief Executive Peter Hynes, were on hand in Washington DC for the announcement on Monday 16 March, and welcomed GSI’s launch, the result of five years of development and planning by Dublin-based OpenSparkz LP and its partners.
Mayo County Council Enterprise and Investment Unit has worked with OpenSparkz to select suitable sites for GSI operations in the county and is delighted with this significant announcement today following detailed discussions regarding the project since last summer.
NUI Galway will support research and development at the Global Sustainability Centre to be based in Castlebar. According to Dr Jim Browne, President of NUI Galway, who was in Washington DC for Monday’s announcement: “We are delighted to be part of this exciting and innovative new project. NUI Galway’s priority areas of research and development align closely with the Global Sustainability Initiative’s vision. We hope to work together and to apply our support and expertise to great effect.”
“Ireland was chosen as headquarters for GSI given the country’s strong technology and skills base in sustainability, and in particular, its leadership in food technology and its long-term friendly relationships with Africa and other less developed markets,” says Paul Lindsey, CEO of Opensparkz.” In addition, the level of practical support we have received from the Mayo County Council and the Irish Government agencies provided a concrete stepping stone towards securing the necessary locations to allow substantial operations take place in Co. Mayo."
OpenSparkz and leading innovative partner companies will develop a technology hub within the Castlebar facility to be called the Global Sustainability Centre, expecting to generate more than 250 new jobs.
The financing of the Centre and GSI’s initial projects in Africa are led by investment bank BPA International Group in partnership with OpenSparkz. BPA. With formal approvals from the Luxembourg Regulator, the CSSF, BPA has launched an alternative investment fund “GSF1” in Luxembourg and is now taking investment commitments for some €300 million, forming the basis of a listed offering when GSI’s projects are sufficiently developed.
“Investments into GSI projects will come from the impact investment sector, as well as sovereign wealth funds, multilateral and supranational bodies and the multinational corporate and institutional brands,” says Stephen Johnson, Chairman of the BPA International Group. “In fact, these organisations strongly supporting global sustainability and are actively increasing their investments in development projects like GSI.”
GSI and GSF1
The GSI initiative will play a role in helping to provide solutions to a series of world-scale challenges, including the development of viable new sustainable biomass fuel supplies which will be essential in helping Governments tackle the threat of global warming.
GSF1 intends to secure land rights in South Africa which will be used to produce these biomass energy fuels in collaboration with local communities, who will benefit from the investment that will be made in improving their nutritional, health, education and technology conditions. The land will also be developed to produce large scale supplies of healthy bio-organic foods and new bio-diversity wildlife reserves to secure the survival of endangered species, including animals like the rhino, which are under increasing threat from poaching.
The GSF1 approach is unique in that 40% of the profits generated by the initiative will be reinvested as social dividends dedicated to the development of urgently needed social projects within these local and other communities, such as farming for food supply, water purification, health clinics, schools for education, energy and IT / tech connectivity.
Global Sustainability Center Partners
Research and development at the GSC will be supported by Irish universities and institutions, including the NUI Galway, GMIT and Mountbellew Agricultural College as well as the Western Development Commission.
Opensparkz is also working closely with the IDA and Enterprise Ireland to help us to attract more leading global companies into the Centre and Ireland.
Opensparkz has already started to attract global partners to the GSC in Castlebar including:
Viridis Aquaponics (U.S) - food production through the use of aquaponics and high tech methodologies. (www.viridisaquaponics.com)
New Generation Biogas (England) - technologies and equipment for local community power production and bio-fertilizers through anaerobic digestion. (www.ngbiogas.com)
IFood Systems (Canada) - packaging technology that extends the shelf life, safety and vitality of agricultural food products. (www.ifoodsystems.com)
Flexiway Solar Solutions (Australia) a subsidiary of NRS International that creates fit-for-purpose solar lights for the humanitarian aid and international development sectors (www.nrs-international.com)
Hedviga Group (Czech Republic) products that convert organic materials from waste (rubber granules, sorted plastics, biomass and sorted municipal waste) into useable products and fuel. (www.hedviga.cz)
Arcadian Biomass (US) expertise in project development, construction, commissioning and operation of lumber, wood chipping, co-generation and wood pelletising operations. (acadianbiomass.com)
Aquiva Foundation (England) a registered charity delivering sustainable desalination project based on the innovative memsys technology in developing countries using waste heat from power generation or solar (www.aquiva-foundation.com)
Risk Management International, Ireland's longest established firm providing risk management and project assurance. (www.rmi.ie)
Indaba Mobile, a South African-based mobile-focused enabling company that extends social networking and communication to the last mile in frontier markets. (www.indabamobile.co.za)
OpenCarb LP, an Irish-based enterprise, that secures, trades and assures biodiversity rights from sustainable projects for the benefit of those communities protecting the environment. (www.opencarb.com)
“This project has resulted from many years of research and development on a new economic model and best in class technologies that will work in less developed markets and deliver impact at scale to communities. The GSC will be a one stop shop to facilitate the delivery to communities of both capital and technologies. It will focus on the big six basic community needs including Food, Energy, Water, Healthcare, Education and IT access, using an economic model based on trade rather than aid. This new approach of investment for impact provides both investors and communities alike better outcomes at scale,” says Declan Conway, Chairman and Founder of OpenSparkz LP.
This is just the beginning of what is to become a major co-operation between developed countries and the developing ones but also the many powerful institutions, organisations and businesses that have already expressed interest in being involved - for a better world for everybody.
The Global Sustainable Fund initiative was inspired from a commitment to action with the Clinton Global Initiative, a US-based group which was established by Bill Clinton to help support worthwhile projects globally. Accordingly, GSI is looking to play it's part in helping to solve some very big world-scale issues, including developing new sustainable fuel supplies to replace coal with biomass and providing sustainable food production which can help us all to tackle the catastrophic risks created by the threat of global warming.