Kenya Takes the Lead in Climate Tech: A Look into East Africas Potential to Achieve High-Income Country Status
- The trillion dollar climate tech industry is growing rapidly
- The need for global investment is immense
- Dahlberg’s moonshot competition posed the question of how to create 30 million jobs for young Africans which led to research into climate science and the potential of direct air capture as a way to remove 5-10 billion tons of CO2 from the atmosphere
- Kenya has an advantageous demographic dividend, renewable energy resources and talent to lead this transition, making it East Africa’s ticket to high-income country status
- However, the task of defossilizing the global economy is enormous.
Kenya Seizes Opportunity to Combat Climate Change with Octavia Carbons Mission
- Octavia Carbon is a company aiming to reverse climate change and end the fossil fuel age
- 90% of their energy needs come from low grade heat from geothermal sources
- East Africa is abundant in energy and carbon, making it the perfect place to begin this mission
- The goal is to take carbon, attach hydrogen atoms, and build hydrocarbons as an alternative to traditional fuels
- Policy and talent exist in abundance in Kenya for this mission
- There is a moral clarity to this task among Kenyans due to effects of climate change seen on smallholder farmers and drought
- Octavia aims to help Kenya become a high income country while also giving something valuable back to the world.
Unlocking Africas Economic Potential: A Billion Dollar Opportunity
- Africa has the potential to leverage strong economic fundamentals to capitalize on global supply chains
- A trillion dollars is at stake for those involved in the venture building business
- Building a different story for Africa’s economy is possible with careful planning and strategy.