Washington DC-based J.Sassoon Group is backing a pre-revenue startup that has plans to manufacture liquefied petroleum gas (LPG) cylinders in Johannesburg with R300 million or approximately $20.5 million. The mezzanine deal provides the startup, Bluedrop Energy, with the capital needed to build its manufacturing facility, the construction of which will begin in the final quarter of the year and take up to 14 months to complete.
According to Bluedrop, the LPG cylinders produced by the factory will set a new standard for the category in South Africa. Made using raw materials selected to reduce the company’s carbon footprint with manufacturing processes utilizing the latest technologies, the company’s products will be produced to meet the highest quality thresholds. The construction of the plant west of Johannesburg is expected to create 110 jobs, with another 35 permanent jobs once the facility is fully operational.
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