The Innovation Hub, Africa's first accredited Science and Technology Park, formalised in April 2013 its strategic partnership through the signing of a memorandum of understanding (MoU) with FONGIT, a Swiss high-technology business incubator, to support the development of new enterprises in healthcare, IT/ICT, gaming, biosciences and the green economy sectors. FONGIT manages, on behalf of the State of Geneva, a dedicated clean-tech incubator focusing on technologies for smart cities. The Innovation Hub (TIH) is a subsidiary of the Gauteng Growth and Development Agency, which is an agency of the Gauteng Department of Economic Development.
McLean Sibanda, CEO of The Innovation Hub, and Dr Francois Gilardoni, Sr., Business Advisor at FONGIT in charge of international business affairs, and Special Advisor at Fongit Seed Invest, FONGIT's investment arm, have been instrumental in the finalisation of the first joint venture - Munaca Renewable Energies (MRE) - between the Geneva-based firm Energy8 SA and MUNACA Energy, a subsidiary of Munaca Holdings.
MRE is engineered to fulfil the growing demand in energy efficiency and renewable energy production in South Africa.
Munaca Holdings, South African Group, owns, manages and operates four subsidiaries active in technology, investment, logistics and commodities.
The objective is threefold:
* Empower South Africa to reach its energy independence with renewable energy;
* Waste to energy (electricity, heat);
* Decrease the carbon footprint and the environmental impact of cities and industries, while contributing to their development.
Munaca Renewable Energies is directed both to the industries and public bodies with already identified projects, which will allow, for instance, the recovery of industrial effluents in view of a production of renewable electricity for a major industrial player.
Another benefit of great importance, Munaca Renewable Energies will also enable the exchange and sharing of knowledge, the deployment of Swiss know-how in an expanding economy, and the creation of skilled jobs in South Africa and in Geneva.
Energy8 SA, an expert in the development and implementation of projects of renewable energy production, the revaluation of heat discharges and energy efficiency, will contribute to deploy an environmentally friendly and innovative solution, given the growing needs that South Africa faces in terms of energies.
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