Pomona Impact, an impact investing fund operating in Central America, has recently made a mezzanine investment in Yellow Pallet B.V, an agricultural innovation company. Founded in 2012, Yellow Pallet B.V. is a Dutch company operating in Costa Rica that has developed the technology to process discarded banana stems into processed pallet blocks that displace wood blocks in fruit transport pallets. Yellow Pallet’s novel banana pallets reduces carbon emissions by 22% compared to standard wood pallet production.
Richard Ambrose, Managing Partner of Pomona Impact states that “Pomona is proud to invest in and support this type of exciting innovation in agriculture in Central America. It serves as a terrific example of the scalable solutions that our portfolio companies are working to tackle in a sustainable manner. We are in close communication with Yellow Pallet as they build up their operations in Costa Rica and have already identified additional partners whom they may be able to work with to bring the technology to Honduras and Guatemala.”
Yellow Pallet’s production process will sustainably supplement the local economy by working with local banana producers to organize stem (and other plant waste) supply from surrounding privately-owned fruit plantations. The company intends on paying at least $3.42 per fresh ton of stems, which translates into up to a 12% salary increase per year for each small producer. In the next six year, Yellow Pallet is expected to generate up to 1,600 new jobs. The local development projects associated with Yellow Packet’s growth such as the land preparation, roads, buildings, and banana stem plantation preparation are expected to generate $2,000,000 in business for local companies.
This investment represents yet another step forward in the global effort to support environmentally sustainable production and economically empower local economies. The continued success of Capria Accelerator participants delivers forward progress in collectively achieving the UN’s Sustainable Development Goals, and a healthier, more equitable future.
Pomona participated in the inaugural cohort of the Capria Accelerator and is a member of the Capria Network of impact fund managers.
About Yellow Pallet
Founded in 2012, Yellow Pallet B.V. is a Dutch Limited company operating in Costa Rica that has developed the technology to process discarded banana stems into processed pallet blocks that displace wood blocks in fruit transport pallets. The founders of Yellow Pallet are Hein van Opstal (MSc, MBA) and Gert Kema (PhD).
About Pomona Impact
Pomona Impact makes investments in Small Growing Businesses in Central America as well as Mexico, Colombia, and Ecuador. In particular, Pomona targets firms that improve the lives of people living in the bottom of the economic pyramid and/or benefit the environment. Pomona seeks to add value to its portfolio companies through strategic advisory, financial structuring, and introductions to potential partners. Pomona celebrates opportunities to work together with entrepreneurs, organizations, and businesses on bringing meaningful impact to the region.