RMB Ventures celebrates partnership that drives sustainability

16 NOVEMBER 2023

Mafika’s new partnership with Bosch marks a milestone for sustainable mining

RMB Ventures celebrates the recent signing of a world-first partnership between BOSCH and Mafika Engineering that is poised to have a powerful impact on the mining industry. This alliance is focused on taking existing engines in the mining industry, reengineering them and retrofitting them as hydrogen-fuelled or hydrogen compatible green alternatives — a significant step in the journey toward carbon reduction and ultimately, carbon neutrality. As an equity investor in Mafika Engineering, RMB Ventures is proud to support a homegrown company that is using its innovative vision and world-class expertise to drive a sustainable future.

Mafika’s partnership with BOSCH comes at a time when large-scale mining companies are on a transformative journey towards sustainability and environmental stewardship. A key driver within this is the prioritising of clean transportation solutions. These efforts are underscored by increasing regulatory and governmental pressure to make significant strides forward in terms of carbon emission reduction. As witnessed in RMB Ventures’ support of sustainably-minded organisations such as Mafika, there is also a growing appetite within banks to fund companies that take action to reduce carbon emissions.

Graydon Epstein, Director of Mafika Engineering, explains the relevance of Mafika and BOSCH’s joint solution: “Together, BOSCH and Mafika are taking on the challenge to retrofit existing diesel engines to operate cleanly on green hydrogen. This innovation is as transformative as it sounds.”

As mining technology currently stands, it would take commercial mines 3-5 years to build and clear new hydrogen trucks for use. Retrofitting an existing diesel engine provides a compelling solution that can deliver immediate benefits and also serve as a viable option for both the near future and potentially for an extended period.

Epstein adds: “Beyond just a technological marvel, this solution underscores our unwavering commitment to sustainable manufacturing and the circular economy. By breathing new life into existing machinery, we are championing the principles of recycling and efficient resource utilisation. These pioneering efforts do more than just enhance efficiency; they echo the imperatives of carbon reduction and our shared vision of a green, zero-emission world.” This results in mission-critical front-line mining machines that are powered by sustainable, green technologies that embody the spirit of the environmental, social, and corporate governance goals.

The partnership is a natural evolution of Mafika’s long-standing reputation as the world’s largest independent rebuilder of HHP and ultra-HHP diesel engines. This outstanding track record has enabled the business to compete head-on with remanufacturing divisions of OEMs and now confidently work with globally-renowned BOSCH as a strategic partner.

Amina Pahad, Senior Transactor at RMB Ventures says that RMB is committed to working with clients that are championing sustainability and driving change in their industry. “In our role as a financial investor, our experienced team partners with management to create innovative solutions built to enable sustainability and growth. For this reason, we are proud to bring essential financial and strategic support to Mafika Engineering as they advance sustainability in the mining industry through their continued innovative approaches to promoting a circular economy.”

RMB Ventures’ 45% equity stake in Mafika, compounded by its strategic insight, has assisted Mafika in opening up the leadership team’s capacity to apply their time and effort to nurturing innovative new initiatives, including their partnership with BOSCH. In addition to Mafika’s long-standing, positive track record, the presence of RMB Ventures as an investor has also served to enhance credibility and drive home the message that Mafika is a key player to watch in the industry.

Pahad concludes: “Realising a more sustainable future in mining needs to be supported by targeted funding, innovative ideas and deep-rooted expertise. We are proud to support a homegrown business that, on the foundation of home-grown innovation, is now promoting circular economy practices on a global scale.”

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