The co-founder of Netflix and the former CEO of Google have taken part in a funding round for solar irrigation start-up SunCulture.
co-founder of Netflix, and Eric Schmidt , the former Google CEO, through his foundation, took part in a funding round for an AfricanThe company supplies small solar powered water pumps, the cost of which is subsidised by the sale of carbon credits, to small-scale farmers, allowing them to replace diesel-powered pumps in some cases and boost yields in fields that weren’t previously irrigated.
The start-up estimates that of the 700 million Africans living on smallholder farms, only 4% have access to irrigation, meaning that they have significantly lower yields and are vulnerable to dry weather. “We’re the largest smallholder solar irrigation company in Africa. We use financial services and carbon revenues to make the cost of solar irrigation 50% cheaper than diesel and petrol pumps,” said Samir Ibrahim, SunCulture’s CEO. “Irrigation is just like old, very unsexy technology, but it could increase your yields by up to five times.
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