DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH has announced an equity investment of about USD 10 million in Combio Energia S.A., a Brazilian company focused on renewable energy solutions for industrial steam generation. This investment is part of a broader funding round totaling USD 45 million, which also includes participation from SPX Capital, a Brazilian private equity firm.
Combio Energia S.A. develops sustainable steam generation units designed for industries that require significant heat during production processes, such as the food and beverage, mining, and chemical sectors. Traditionally, these industries rely on fossil fuels to generate the necessary high temperatures. Combio offers alternatives by enabling companies to use biomass and renewable electricity instead of fossil sources. According to the company, its clients collectively avoid approximately 670,000 tonnes of CO2 equivalent emissions annually by switching to these renewable options.
The agreement was signed during the COP30 Climate Change Conference in Belém, Brazil. Monika Beck, member of DEG’s Management Board, stated: “Companies that invest in the sustainable transformation today are not only securing their own futures but also opening up new business potential. At DEG, we have a very deliberate focus on working with companies that see this transformation as an opportunity.”
Edson Peli, Partner at SPX Capital, said: “Welcoming a world-class investor such as DEG to Combio underscores the company’s exceptional quality and the relevance of its mission, while marking an important milestone for SPX’s private equity business and a validation of our long-term strategy.”
Paulo Skaf Filho, CEO of Combio Energia S.A., commented: “DEG’s investment marks an important step in Combio’s trajectory. Partnering with a global leader in sustainable finance reinforces the strength of our model and provides even greater confidence to the industrial clients we support. With DEG at our side, we are better positioned to scale our projects and advance our purpose of enabling the decarbonization of hard-to-abate sectors.”
DEG is a subsidiary of KfW Group specializing in supporting private sector development globally through long-term financing and advisory services aimed at promoting sustainability and resilience. The organization has been active in Latin America since its founding and maintains four offices across the continent—including one in São Paulo—where it works with businesses seeking more sustainable practices.