The Global Sustainability Initiative (GSI), an global impact investment project, is to have its headquarters in Catslebar, County Mayo, Ireland, where 250 jobs will be created.
The launch of GSI is the result of five years of development and planning by Dublin-based OpenSparkz LP and its partners.
Mayo County Council Enterprise and Investment Unit has worked with OpenSparkz to select suitable sites for GSI operations in the county.
"Ireland was chosen as headquarters for GSI given the country's strong technology and skills base in sustainability, and in particular, its leadership in food technology and its long-term friendly relationships with Africa and other lesser-developed markets," says Paul Lindsey, CEO of OpenSparkz. "In addition, the level of practical support we have received from the Mayo County Council and the Irish Government agencies provided a concrete stepping stone towards securing the necessary locations to allow substantial operations take place in Co. Mayo"
OpenSparkz and its leading innovative partner companies will develop a technology hub within the Castlebar facility to be called the "Global Sustainability Centre", expecting to generate more than 250 new jobs.
The financing of the Centre and GSI's initial projects in Africa are led by investment bank BPA International Group in partnership with OpenSparkz.. After receiving formal approvals from the Luxembourg Regulator, the CSSF, BPA has launched an alternative investment fund "GSF1" in Luxembourg and is now taking investment commitments for some EURO 300 million, forming the basis of a listed offering when GSI's projects are sufficiently developed.
"Investments into GSI projects will come from the impact investment sector, as well as sovereign wealth funds, multilateral and supranational bodies and the multinational corporate and. institutional brands." says Stephen Johnson, Chairman of the BPA International Group. "In fact, these organisations strongly supporting global sustainability and are actively increasing their investments in development projects like GSI."