Investment firm New GX Capital, under the leadership of CEO Khudusela Pitje, has announced that Nedbank Corporate and Investment Banking (Nedbank CIB) has committed $28-million to Airnergize Capital Fund I.

New GX Capital says the investment increases the fund’s commitments to $161-million, advancing towards its final close target of $200-million.

Airnergize Capital Fund I was launched in April, securing an initial $111-million at first close, anchored by RMB Ventures (RMBV) and New GX Capital.

The fund is dedicated to investing in clean technology and infrastructure across energy, water, gas and related services, with the objective of driving both environmental sustainability and inclusive growth and has already invested in Sustainable Power Solutions (SPS), a pan-African commercial and industrial solar and storage business based in Stellenbosch, in the Western Cape.

New GX previously held an investment in SPS, which now forms part of the fund’s portfolio and is well positioned to scale further in South Africa and selected African markets.

“We are humbled by Nedbank CIB’s support which started four years ago in acquiring little known Mettle Solar which today is one of the leading C&I solar and storage platforms known as SPS. The partnership will continue under the Airnergize Capital umbrella to enable us to scale across cleantech infrastructure within the continent.

“Access to clean energy, water and gas is critical to economic growth and social upliftment and, with the support of partners such as Nedbank, we are making tangible progress toward a more sustainable future,” says Pitje.

“Nedbank CIB is a like-minded, long-term investor that shares our vision to build a leading cleantech platform under the Airnergize Capital umbrella – one that unlocks a sustainable tomorrow for South Africa and the continent,” adds Airnergize Capital deal executive Tebatso Modiba.

“Nedbank has been a long-standing partner to New GX, having previously provided acquisition funding for its investment in SPS. This commitment reflects the continuation of that partnership and Nedbank’s ongoing support for the renewable energy investment theme,” says Nedbank principal leverage and diversified finance Smanga Dlamini.

“Nedbank is proud to participate in an investment strategy that aligns with global sustainability goals. Our involvement underscores our commitment to financing solutions that accelerate the transition to a low-carbon economy while supporting inclusive growth across Africa,” continues Nedbank alternative equity head Gareth McElhone.

By backing pioneering businesses, Airnergize Capital Fund I says it seeks to generate long-term value, creating both environmental benefits and measurable social impact.